Canaccord Genuity reiterated their buy rating on shares of NVIDIA Corporation (NASDAQ:NVDA) in a report issued on Friday morning, The Fly reports. Canaccord Genuity currently has a $225.00 target price on the computer hardware maker’s stock, up from their previous target price of $190.00.
NVDA has been the subject of a number of other research reports. Vetr upgraded shares of NVIDIA Corporation from a hold rating to a buy rating and set a $176.95 target price for the company in a research note on Wednesday, September 6th. Royal Bank Of Canada restated an outperform rating and set a $175.00 target price on shares of NVIDIA Corporation in a research note on Thursday, July 13th. Needham & Company LLC restated a buy rating on shares of NVIDIA Corporation in a research note on Friday, August 11th. Citigroup Inc. restated a buy rating and set a $210.00 target price (up previously from $185.00) on shares of NVIDIA Corporation in a research note on Friday, September 29th. Finally, Bank of America Corporation set a $210.00 target price on shares of NVIDIA Corporation and gave the stock a buy rating in a research note on Thursday, October 12th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $185.41.
Shares of NVIDIA Corporation (NASDAQ:NVDA) traded up $1.55 during mid-day trading on Friday, reaching $214.18. 6,160,031 shares of the company’s stock were exchanged, compared to its average volume of 17,758,639. The firm has a market capitalization of $127,580.00, a PE ratio of 53.24, a P/E/G ratio of 5.34 and a beta of 1.23. The company has a current ratio of 8.26, a quick ratio of 7.42 and a debt-to-equity ratio of 0.31. NVIDIA Corporation has a 12-month low of $83.62 and a 12-month high of $218.67.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.39. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.36 billion. NVIDIA Corporation had a net margin of 28.78% and a return on equity of 42.71%. The company’s revenue for the quarter was up 31.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.94 earnings per share. research analysts expect that NVIDIA Corporation will post 3.61 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $0.60 annualized dividend and a dividend yield of 0.28%. This is a positive change from NVIDIA Corporation’s previous quarterly dividend of $0.14. NVIDIA Corporation’s payout ratio is currently 14.00%.
In other news, insider Michael Byron sold 409 shares of NVIDIA Corporation stock in a transaction on Friday, September 1st. The shares were sold at an average price of $171.01, for a total value of $69,943.09. Following the completion of the sale, the insider now owns 136,199 shares in the company, valued at approximately $23,291,390.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jen Hsun Huang sold 110,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $166.08, for a total transaction of $18,268,800.00. The disclosure for this sale can be found here. Insiders sold a total of 436,503 shares of company stock valued at $78,796,295 in the last quarter. 5.17% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in NVDA. Fiduciary Trust Co. bought a new stake in NVIDIA Corporation during the 1st quarter valued at $435,000. Metropolitan Life Insurance Co. NY increased its stake in NVIDIA Corporation by 6.7% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 308,211 shares of the computer hardware maker’s stock valued at $33,573,000 after purchasing an additional 19,245 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in NVIDIA Corporation during the 1st quarter valued at $1,454,000. Caxton Associates LP bought a new stake in NVIDIA Corporation during the 1st quarter valued at $2,778,000. Finally, Flagship Harbor Advisors LLC increased its stake in NVIDIA Corporation by 138.6% during the 1st quarter. Flagship Harbor Advisors LLC now owns 7,646 shares of the computer hardware maker’s stock valued at $765,000 after purchasing an additional 4,442 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.
NVIDIA Corporation 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.
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