NVIDIA Co. (NASDAQ:NVDA) has earned a consensus rating of “Buy” from the thirty-seven analysts that are covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation and twenty-seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $292.17.
A number of equities research analysts have recently commented on NVDA shares. UBS Group raised NVIDIA from a “market perform” rating to an “outperform” rating in a research report on Friday, August 17th. Needham & Company LLC lifted their price objective on NVIDIA from $325.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, September 14th. Oppenheimer raised NVIDIA from a “market perform” rating to an “outperform” rating and set a $310.00 price objective for the company in a research report on Friday, August 17th. Wells Fargo & Co raised NVIDIA from an “underperform” rating to an “outperform” rating and lifted their price objective for the company from $140.00 to $315.00 in a research report on Tuesday, August 14th. Finally, Evercore ISI lifted their price objective on NVIDIA from $300.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, September 28th.
In other NVIDIA news, EVP Ajay K. Puri sold 90,831 shares of the business’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $289.35, for a total transaction of $26,281,949.85. Following the transaction, the executive vice president now owns 184,001 shares in the company, valued at $53,240,689.35. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael Byron sold 11,257 shares of the business’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $263.94, for a total value of $2,971,172.58. Following the transaction, the insider now owns 81,414 shares in the company, valued at approximately $21,488,411.16. The disclosure for this sale can be found here. Insiders sold 113,707 shares of company stock worth $32,347,973 in the last quarter. 4.70% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its stake in shares of NVIDIA by 3.5% during the second quarter. FMR LLC now owns 48,594,422 shares of the computer hardware maker’s stock worth $11,512,019,000 after purchasing an additional 1,656,748 shares in the last quarter. BlackRock Inc. lifted its stake in shares of NVIDIA by 1.2% during the second quarter. BlackRock Inc. now owns 38,562,828 shares of the computer hardware maker’s stock worth $9,135,533,000 after purchasing an additional 454,434 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of NVIDIA by 18.8% during the second quarter. Jennison Associates LLC now owns 7,800,112 shares of the computer hardware maker’s stock worth $1,847,847,000 after purchasing an additional 1,234,191 shares in the last quarter. Edgewood Management LLC lifted its stake in shares of NVIDIA by 2.5% during the second quarter. Edgewood Management LLC now owns 5,021,345 shares of the computer hardware maker’s stock worth $1,189,557,000 after purchasing an additional 123,650 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of NVIDIA by 63.7% in the second quarter. Janus Henderson Group PLC now owns 4,222,049 shares of the computer hardware maker’s stock worth $1,000,199,000 after acquiring an additional 1,643,689 shares in the last quarter. Institutional investors own 65.69% of the company’s stock.
Shares of NASDAQ:NVDA opened at $265.54 on Friday. The firm has a market capitalization of $170.86 billion, a PE ratio of 56.86, a price-to-earnings-growth ratio of 3.68 and a beta of 1.64. The company has a quick ratio of 6.66, a current ratio of 7.41 and a debt-to-equity ratio of 0.23. NVIDIA has a 52 week low of $180.58 and a 52 week high of $292.76.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, August 16th. The computer hardware maker reported $1.94 EPS for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.28. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.11 billion. NVIDIA had a return on equity of 54.18% and a net margin of 36.21%. The business’s revenue for the quarter was up 40.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 earnings per share. On average, research analysts anticipate that NVIDIA will post 7.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Thursday, August 30th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date was Wednesday, August 29th. NVIDIA’s payout ratio is currently 12.85%.
NVIDIA Company Profile
NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
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