NVIDIA (NASDAQ:NVDA) Earns “Buy” Rating from Benchmark

Benchmark reaffirmed their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a research report released on Wednesday morning, 24/7 WallStreet reports. They currently have a $210.00 price objective on the computer hardware maker’s stock.

A number of other equities analysts also recently commented on the company. Bank of America reissued a buy rating on shares of NVIDIA in a research report on Tuesday. Wedbush set a $184.00 price target on NVIDIA and gave the company a buy rating in a report on Friday, August 16th. Barclays lowered their price target on NVIDIA from $180.00 to $170.00 and set an overweight rating for the company in a report on Friday, August 16th. SunTrust Banks set a $210.00 price target on NVIDIA and gave the company a buy rating in a report on Friday, August 16th. Finally, Oppenheimer set a $190.00 price target on NVIDIA and gave the company a buy rating in a report on Friday, August 16th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-eight have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $190.40.

Shares of NVIDIA stock opened at $162.44 on Wednesday. NVIDIA has a one year low of $124.46 and a one year high of $292.76. The company has a market cap of $98.93 billion, a PE ratio of 26.76, a P/E/G ratio of 4.30 and a beta of 2.07. The company has a debt-to-equity ratio of 0.24, a quick ratio of 7.74 and a current ratio of 8.65. The business has a 50-day simple moving average of $164.03 and a 200-day simple moving average of $163.88.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, August 15th. The computer hardware maker reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.37. NVIDIA had a return on equity of 24.40% and a net margin of 26.93%. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the company posted $1.94 earnings per share. The business’s revenue for the quarter was down 17.4% on a year-over-year basis. On average, sell-side analysts predict that NVIDIA will post 4.08 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, August 29th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Wednesday, August 28th. NVIDIA’s payout ratio is currently 10.54%.

In other news, CFO Colette Kress sold 2,236 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $164.01, for a total transaction of $366,726.36. Following the completion of the sale, the chief financial officer now owns 239,710 shares in the company, valued at $39,314,837.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harvey C. Jones sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $145.10, for a total value of $14,510,000.00. Following the sale, the director now owns 32,983 shares of the company’s stock, valued at approximately $4,785,833.30. The disclosure for this sale can be found here. Insiders sold 107,236 shares of company stock valued at $15,712,126 over the last three months. Corporate insiders own 4.64% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. LS Investment Advisors LLC raised its position in NVIDIA by 0.5% in the first quarter. LS Investment Advisors LLC now owns 11,952 shares of the computer hardware maker’s stock worth $2,146,000 after acquiring an additional 62 shares in the last quarter. McIlrath & Eck LLC raised its position in NVIDIA by 14.5% in the first quarter. McIlrath & Eck LLC now owns 496 shares of the computer hardware maker’s stock worth $89,000 after acquiring an additional 63 shares in the last quarter. Tradewinds Capital Management LLC raised its position in NVIDIA by 19.8% in the first quarter. Tradewinds Capital Management LLC now owns 393 shares of the computer hardware maker’s stock worth $71,000 after acquiring an additional 65 shares in the last quarter. Landsberg Bennett & Dubbaneh LLC raised its position in NVIDIA by 1.0% in the second quarter. Landsberg Bennett & Dubbaneh LLC now owns 7,160 shares of the computer hardware maker’s stock worth $1,190,000 after acquiring an additional 68 shares in the last quarter. Finally, Hanson McClain Inc. raised its position in NVIDIA by 9.8% in the first quarter. Hanson McClain Inc. now owns 772 shares of the computer hardware maker’s stock worth $139,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 66.93% of the company’s stock.

About NVIDIA

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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