NVIDIA (NASDAQ:NVDA) had its target price boosted by Jefferies Financial Group from $570.00 to $680.00 in a research note published on Monday morning, The Fly reports. They currently have a buy rating on the computer hardware maker’s stock.
A number of other research firms also recently issued reports on NVDA. Cascend Securities lifted their price objective on NVIDIA from $450.00 to $540.00 and gave the stock a buy rating in a research note on Wednesday, August 12th. SunTrust Banks lifted their price objective on NVIDIA from $327.00 to $384.00 and gave the stock a buy rating in a research note on Friday, May 22nd. Bank of America lifted their price objective on NVIDIA from $600.00 to $650.00 and gave the stock a buy rating in a research note on Wednesday, September 2nd. Credit Suisse Group boosted their target price on NVIDIA from $530.00 to $620.00 and gave the company an outperform rating in a research report on Wednesday, September 2nd. Finally, Needham & Company LLC boosted their target price on NVIDIA from $400.00 to $600.00 and gave the company a buy rating in a research report on Thursday, August 20th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirty-one have given a buy rating to the company. NVIDIA has a consensus rating of Buy and a consensus price target of $512.97.
Shares of NVDA opened at $500.58 on Monday. The business’s 50 day moving average is $480.89 and its 200 day moving average is $359.48. The company has a market capitalization of $308.86 billion, a PE ratio of 92.02, a price-to-earnings-growth ratio of 3.94 and a beta of 1.53. NVIDIA has a 12-month low of $169.32 and a 12-month high of $589.07. The company has a current ratio of 6.09, a quick ratio of 5.51 and a debt-to-equity ratio of 0.50.
NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 19th. The computer hardware maker reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.21. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.66 billion. NVIDIA had a return on equity of 30.41% and a net margin of 25.93%. The firm’s quarterly revenue was up 50.1% on a year-over-year basis. During the same quarter last year, the company earned $1.24 EPS. Equities research analysts predict that NVIDIA will post 6.84 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Wednesday, September 2nd will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.13%. The ex-dividend date is Tuesday, September 1st. NVIDIA’s dividend payout ratio is currently 13.94%.
In related news, Director Mark A. Stevens sold 22,400 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $378.55, for a total transaction of $8,479,520.00. Following the transaction, the director now directly owns 161,257 shares of the company’s stock, valued at approximately $61,043,837.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Stevens sold 18,166 shares of the stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $372.21, for a total value of $6,761,566.86. Following the completion of the transaction, the director now directly owns 161,257 shares in the company, valued at $60,021,467.97. The disclosure for this sale can be found here. Insiders have sold a total of 348,373 shares of company stock worth $152,440,424 over the last ninety days. 4.47% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Hoover Financial Advisors Inc. acquired a new position in shares of NVIDIA in the second quarter valued at about $32,000. Atlantic Trust LLC boosted its position in NVIDIA by 46.9% during the second quarter. Atlantic Trust LLC now owns 94 shares of the computer hardware maker’s stock worth $36,000 after purchasing an additional 30 shares in the last quarter. Ellevest Inc. boosted its position in NVIDIA by 256.7% during the second quarter. Ellevest Inc. now owns 107 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 77 shares in the last quarter. Blue Bell Private Wealth Management LLC purchased a new position in shares of NVIDIA in the second quarter valued at approximately $50,000. Finally, Campbell Wealth Management purchased a new position in shares of NVIDIA in the second quarter valued at approximately $55,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.
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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