BMO Capital Markets upgraded shares of NVIDIA Corporation (NASDAQ:NVDA) from an underperform rating to a market perform rating in a research report report published on Monday morning. They currently have $216.14 price objective on the computer hardware maker’s stock, down from their prior price objective of $218.67.
A number of other research firms have also issued reports on NVDA. Mizuho restated a buy rating and set a $180.00 price target (up previously from $170.00) on shares of NVIDIA Corporation in a report on Friday, August 11th. Susquehanna Bancshares Inc restated a neutral rating and set a $140.00 price target on shares of NVIDIA Corporation in a report on Wednesday, August 16th. Oppenheimer Holdings, Inc. restated a hold rating on shares of NVIDIA Corporation in a report on Sunday, November 5th. Vetr lowered shares of NVIDIA Corporation from a buy rating to a hold rating and set a $172.54 price target on the stock. in a report on Thursday, August 31st. Finally, Canaccord Genuity restated a buy rating and set a $190.00 price target (up previously from $180.00) on shares of NVIDIA Corporation in a report on Thursday, August 10th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. NVIDIA Corporation has a consensus rating of Buy and an average price target of $185.93.
NVIDIA Corporation (NVDA) traded up $1.55 during midday trading on Monday, hitting $214.18. 13,194,451 shares of the company were exchanged, compared to its average volume of 17,758,639. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.26 and a quick ratio of 7.42. NVIDIA Corporation has a twelve month low of $83.62 and a twelve month high of $218.67. The company has a market cap of $128,110.00, a P/E ratio of 53.24, a P/E/G ratio of 5.34 and a beta of 1.23.
NVIDIA Corporation (NASDAQ:NVDA) last released its earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.39. NVIDIA Corporation had a net margin of 28.78% and a return on equity of 42.71%. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the firm earned $0.94 EPS. The business’s revenue for the quarter was up 31.5% on a year-over-year basis. analysts forecast that NVIDIA Corporation will post 3.61 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $0.60 dividend on an annualized basis and a yield of 0.28%. This is a positive change from NVIDIA Corporation’s previous quarterly dividend of $0.14. NVIDIA Corporation’s dividend payout ratio is currently 14.00%.
In other NVIDIA Corporation news, insider Michael Byron sold 409 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $171.01, for a total transaction of $69,943.09. Following the sale, the insider now owns 136,199 shares of the company’s stock, valued at approximately $23,291,390.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 50,000 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $189.62, for a total transaction of $9,481,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 436,503 shares of company stock worth $78,796,295. Insiders own 5.17% of the company’s stock.
A number of large investors have recently modified their holdings of NVDA. First Allied Advisory Services Inc. boosted its stake in shares of NVIDIA Corporation by 44.2% in the 3rd quarter. First Allied Advisory Services Inc. now owns 14,099 shares of the computer hardware maker’s stock valued at $2,527,000 after purchasing an additional 4,321 shares during the last quarter. Oribel Capital Management LP bought a new position in shares of NVIDIA Corporation in the 3rd quarter valued at about $11,209,000. Boothbay Fund Management LLC boosted its stake in shares of NVIDIA Corporation by 696.3% in the 3rd quarter. Boothbay Fund Management LLC now owns 20,823 shares of the computer hardware maker’s stock valued at $3,723,000 after purchasing an additional 18,208 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of NVIDIA Corporation by 45.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 27,391 shares of the computer hardware maker’s stock valued at $4,897,000 after purchasing an additional 8,605 shares during the last quarter. Finally, Monetta Financial Services Inc. bought a new position in shares of NVIDIA Corporation in the 3rd quarter valued at about $2,682,000. 65.40% of the stock is currently owned by hedge funds and other institutional investors.
About NVIDIA Corporation
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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