BMO Capital Markets Reiterates Underperform Rating for NVIDIA Co. (NVDA)

NVIDIA Co. (NASDAQ:NVDA)‘s stock had its “underperform” rating reissued by investment analysts at BMO Capital Markets in a research report issued to clients and investors on Wednesday, May 10th. They currently have a $85.00 price target on the computer hardware maker’s stock. BMO Capital Markets’ price target indicates a potential downside of 37.50% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Global Equities Research reaffirmed an “overweight” rating and issued a $125.00 target price on shares of NVIDIA in a report on Wednesday, May 10th. Macquarie reaffirmed a “neutral” rating and issued a $110.00 target price on shares of NVIDIA in a report on Wednesday, May 10th. Citigroup Inc reiterated a “buy” rating and issued a $145.00 price objective on shares of NVIDIA in a research note on Wednesday, May 10th. Canaccord Genuity reiterated a “buy” rating and issued a $155.00 price objective (up previously from $125.00) on shares of NVIDIA in a research note on Wednesday, May 10th. Finally, Zacks Investment Research upgraded NVIDIA from a “sell” rating to a “hold” rating in a research report on Monday, May 8th. Six research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $109.34.

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDA) traded up 2.31% on Wednesday, reaching $136.00. The company had a trading volume of 25,459,271 shares. The company has a market capitalization of $80.51 billion, a price-to-earnings ratio of 45.65 and a beta of 1.31. NVIDIA has a 12 month low of $44.13 and a 12 month high of $138.22. The company’s 50 day moving average price is $108.63 and its 200-day moving average price is $102.37.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Tuesday, May 9th. The computer hardware maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.16. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.91 billion. NVIDIA had a return on equity of 34.13% and a net margin of 23.82%. The company’s revenue for the quarter was up 48.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 EPS. On average, equities analysts predict that NVIDIA will post $3.08 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 14th. Investors of record on Tuesday, May 23rd will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, May 19th. This represents a $0.56 annualized dividend and a yield of 0.41%. NVIDIA’s payout ratio is 21.96%.

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In other news, insider Jen Hsun Huang sold 41,670 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $98.30, for a total value of $4,096,161.00. Following the completion of the sale, the insider now owns 1,811,456 shares of the company’s stock, valued at approximately $178,066,124.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Byron sold 750 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $102.09, for a total transaction of $76,567.50. Following the sale, the insider now directly owns 159,442 shares of the company’s stock, valued at approximately $16,277,433.78. The disclosure for this sale can be found here. Insiders have sold a total of 312,240 shares of company stock worth $34,347,618 over the last quarter. 5.82% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in NVIDIA by 7.4% in the first quarter. Vanguard Group Inc. now owns 37,580,211 shares of the computer hardware maker’s stock worth $4,093,612,000 after buying an additional 2,597,209 shares in the last quarter. Baillie Gifford & Co. raised its stake in NVIDIA by 36.7% in the fourth quarter. Baillie Gifford & Co. now owns 14,140,920 shares of the computer hardware maker’s stock worth $1,509,402,000 after buying an additional 3,795,368 shares during the last quarter. Jennison Associates LLC raised its stake in NVIDIA by 36.6% in the third quarter. Jennison Associates LLC now owns 12,844,514 shares of the computer hardware maker’s stock worth $880,106,000 after buying an additional 3,441,948 shares during the last quarter. Edgewood Management LLC raised its stake in NVIDIA by 21.9% in the first quarter. Edgewood Management LLC now owns 5,987,970 shares of the computer hardware maker’s stock worth $652,270,000 after buying an additional 1,074,303 shares during the last quarter. Finally, Janus Capital Management LLC raised its stake in NVIDIA by 20.0% in the first quarter. Janus Capital Management LLC now owns 5,368,881 shares of the computer hardware maker’s stock worth $584,832,000 after buying an additional 895,591 shares during the last quarter. 85.00% of the stock is owned by institutional investors and hedge funds.

NVIDIA 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.

12 Month Chart for NASDAQ:NVDA

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