Vetr cut shares of Nvidia Corp. (NASDAQ:NVDA) from a buy rating to a hold rating in a research report report published on Thursday. Vetr currently has $69.67 price target on the computer hardware maker’s stock.
Other analysts have also issued reports about the company. MKM Partners reaffirmed a buy rating and issued a $52.00 target price (up from $43.00) on shares of Nvidia Corp. in a research report on Monday, June 13th. Nomura upgraded Nvidia Corp. from a neutral rating to a buy rating and lifted their price target for the company from $35.00 to $55.00 in a research note on Monday, June 13th. Jefferies Group upgraded Nvidia Corp. to a buy rating and lifted their price target for the company from $3.50 to $56.00 in a research note on Monday, June 13th. Goldman Sachs Group Inc. initiated coverage on Nvidia Corp. in a research note on Thursday, June 2nd. They set a buy rating and a $54.00 price target for the company. Finally, B. Riley reiterated a buy rating and set a $58.00 price target on shares of Nvidia Corp. in a research note on Friday, June 17th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Nvidia Corp. currently has an average rating of Hold and a consensus target price of $58.60.
Nvidia Corp. (NASDAQ:NVDA) opened at 68.45 on Thursday. The company has a market cap of $36.62 billion, a price-to-earnings ratio of 44.97 and a beta of 1.25. Nvidia Corp. has a 52 week low of $24.75 and a 52 week high of $69.51. The stock’s 50 day moving average price is $63.15 and its 200-day moving average price is $49.28.
Nvidia Corp. (NASDAQ:NVDA) last issued its earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. Nvidia Corp. had a return on equity of 20.86% and a net margin of 16.58%. The business earned $1.43 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the company posted $0.34 EPS. The firm’s revenue was up 23.9% compared to the same quarter last year. On average, equities research analysts forecast that Nvidia Corp. will post $1.85 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, August 25th were paid a $0.115 dividend. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $0.46 annualized dividend and a dividend yield of 0.67%. Nvidia Corp.’s payout ratio is presently 30.26%.
In other Nvidia Corp. news, Director Tench Coxe sold 82,269 shares of Nvidia Corp. stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $65.74, for a total transaction of $5,408,364.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director A Brooke Seawell sold 30,000 shares of Nvidia Corp. stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $62.52, for a total value of $1,875,600.00. Following the sale, the director now directly owns 6,213 shares in the company, valued at $388,436.76. The disclosure for this sale can be found here. 5.82% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Trinity Street Asset Management LLP raised its position in Nvidia Corp. by 154.6% in the second quarter. Trinity Street Asset Management LLP now owns 563,363 shares of the computer hardware maker’s stock valued at $26,483,000 after buying an additional 342,092 shares during the last quarter. Natixis raised its position in Nvidia Corp. by 91.1% in the first quarter. Natixis now owns 1,754,727 shares of the computer hardware maker’s stock valued at $62,521,000 after buying an additional 836,276 shares during the last quarter. Legal & General Group Plc raised its position in Nvidia Corp. by 5.1% in the first quarter. Legal & General Group Plc now owns 2,243,547 shares of the computer hardware maker’s stock valued at $79,938,000 after buying an additional 107,884 shares during the last quarter. Clark Capital Management Group Inc. acquired a new position in Nvidia Corp. during the first quarter valued at about $7,723,000. Finally, Nordea Investment Management AB raised its position in Nvidia Corp. by 114.1% in the second quarter. Nordea Investment Management AB now owns 33,823 shares of the computer hardware maker’s stock valued at $1,590,000 after buying an additional 18,023 shares during the last quarter. 86.37% of the stock is currently owned by institutional investors and hedge funds.
About Nvidia Corp.
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.
To view Vetr’s full report, visit Vetr’s official website.
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