NVIDIA Co. (NVDA) Rating Reiterated by Pacific Crest

NVIDIA Co. (NASDAQ:NVDA)‘s stock had its “underweight” rating reiterated by stock analysts at Pacific Crest in a report released on Monday, May 8th. They presently have a $90.00 price target on the computer hardware maker’s stock. Pacific Crest’s price target would indicate a potential downside of 33.82% from the stock’s previous close.

A number of other research firms have also commented on NVDA. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of NVIDIA in a research report on Wednesday, January 11th. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $110.00 price target (up from $95.00) on shares of NVIDIA in a research report on Thursday, February 16th. Zacks Investment Research lowered NVIDIA from a “buy” rating to a “hold” rating in a research report on Tuesday, February 14th. Royal Bank of Canada raised their target price on NVIDIA from $115.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. Finally, Instinet lowered NVIDIA from a “buy” rating to a “reduce” rating and set a $90.00 target price for the company. in a research report on Wednesday, February 22nd. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $109.34.

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Tuesday, May 9th. The computer hardware maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.16. The business 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%. NVIDIA’s quarterly revenue was up 48.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.46 EPS.

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

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In other NVIDIA news, insider Jen Hsun Huang sold 41,670 shares of the business’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $98.30, for a total value of $4,096,161.00. Following the sale, the insider now directly owns 1,811,456 shares of the company’s stock, valued at $178,066,124.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tench Coxe sold 50,000 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $129.48, for a total value of $6,474,000.00. The disclosure for this sale can be found here. Insiders sold 312,240 shares of company stock worth $34,347,618 over the last three months. Corporate insiders own 5.82% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. First Trust Advisors LP boosted its position in NVIDIA by 4.5% in the third quarter. First Trust Advisors LP now owns 755,483 shares of the computer hardware maker’s stock valued at $51,766,000 after buying an additional 32,633 shares in the last quarter. Jennison Associates LLC boosted its position 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 valued at $880,106,000 after buying an additional 3,441,948 shares in the last quarter. San Francisco Sentry Investment Group CA acquired a new position in NVIDIA during the third quarter valued at $346,000. NEXT Financial Group Inc boosted its stake in NVIDIA by 14.1% in the third quarter. NEXT Financial Group Inc now owns 28,419 shares of the computer hardware maker’s stock worth $1,947,000 after buying an additional 3,505 shares during the period. Finally, Wellington Shields & Co. LLC purchased a new stake in NVIDIA during the third quarter worth approximately $206,000. Hedge funds and other institutional investors own 85.00% of the company’s stock.

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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