NVIDIA Corporation (NVDA) Trading -1.2% Higher on Analyst Upgrade

NVIDIA Corporation (NASDAQ:NVDA)’s share price traded up 1.2% on Monday after BMO Capital Markets upgraded the stock from an underperform rating to a market perform rating. BMO Capital Markets now has a $216.14 price target on the stock, down from their previous price target of $218.67. NVIDIA Corporation traded as high as $218.67 and last traded at $213.51. 10,692,633 shares traded hands during trading, a decline of 40% from the average session volume of 17,773,291 shares. The stock had previously closed at $216.14.

Other equities analysts have also recently issued reports about the stock. B. Riley reaffirmed a “buy” rating and set a $200.00 target price (up from $135.00) on shares of NVIDIA Corporation in a research note on Monday, August 7th. Stifel Nicolaus reaffirmed a “hold” rating and set a $110.00 target price on shares of NVIDIA Corporation in a research note on Friday, August 11th. MKM Partners reaffirmed a “neutral” rating and set a $120.00 target price (up from $106.00) on shares of NVIDIA Corporation in a research note on Monday, August 14th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $140.00 target price on shares of NVIDIA Corporation in a research note on Wednesday, August 16th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of NVIDIA Corporation in a research note on Saturday, September 23rd. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $185.93.

In other NVIDIA Corporation news, insider Michael Byron sold 409 shares of NVIDIA Corporation stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $171.01, for a total transaction of $69,943.09. Following the completion of the sale, the insider now directly owns 136,199 shares in the company, valued at approximately $23,291,390.99. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jen Hsun Huang sold 110,000 shares of NVIDIA Corporation stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $166.08, for a total transaction of $18,268,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 451,503 shares of company stock valued at $81,997,895. Company insiders own 5.17% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in NVDA. Janus Henderson Group PLC lifted its stake in NVIDIA Corporation by 5,424.4% during the 2nd quarter. Janus Henderson Group PLC now owns 4,096,888 shares of the computer hardware maker’s stock valued at $592,244,000 after acquiring an additional 4,022,728 shares during the period. Vanguard Group Inc. lifted its stake in shares of NVIDIA Corporation by 7.1% in the 2nd quarter. Vanguard Group Inc. now owns 40,257,187 shares of the computer hardware maker’s stock valued at $5,819,579,000 after purchasing an additional 2,676,976 shares during the period. Jackson Square Partners LLC acquired a new position in shares of NVIDIA Corporation in the 2nd quarter valued at $229,323,000. Renaissance Technologies LLC lifted its stake in shares of NVIDIA Corporation by 19.3% in the 2nd quarter. Renaissance Technologies LLC now owns 4,758,793 shares of the computer hardware maker’s stock valued at $687,931,000 after purchasing an additional 768,200 shares during the period. Finally, Quantitative Investment Management LLC lifted its stake in shares of NVIDIA Corporation by 3,194.2% in the 2nd quarter. Quantitative Investment Management LLC now owns 678,600 shares of the computer hardware maker’s stock valued at $98,098,000 after purchasing an additional 658,000 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

The company has a current ratio of 8.26, a quick ratio of 7.42 and a debt-to-equity ratio of 0.31. The company has a market cap of $128,110.00, a P/E ratio of 53.24, a PEG ratio of 5.34 and a beta of 1.23.

NVIDIA Corporation (NASDAQ:NVDA) last posted its earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.39. NVIDIA Corporation had a net margin of 28.78% and a return on equity of 42.71%. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the business posted $0.94 EPS. The business’s revenue was up 31.5% compared to the same quarter last year. equities research analysts predict that NVIDIA Corporation will post 3.61 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be paid a $0.15 dividend. This is a boost from NVIDIA Corporation’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Wednesday, November 22nd. NVIDIA Corporation’s payout ratio is currently 14.00%.

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NVIDIA Corporation Company Profile

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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