According to Zacks, “NVIDIA has been putting in a lot of effort to strengthen its position in several emerging industries. Growth across Datacenter, Professional Visualization and Automotive segments is expected to be a key catalyst. Further, the company’s latest acquisition of Mellanox Technologies is likely to be a key driver as it will strengthen its datacenter footprint and competitive edge. Estimates have been stable lately ahead of the company’s first-quarter earnings release. Shares have outperformed the industry year to date. However, NVIDIA is hurt by weakness in the gaming business. Suspension of mid-range Pascal GPU shipments following tepid demand from crypto miners in order to normalize channel inventory levels is an overhang.”
Several other research analysts have also commented on NVDA. BidaskClub lowered NVIDIA from a strong-buy rating to a buy rating in a report on Tuesday, April 16th. Morgan Stanley boosted their price objective on NVIDIA from $148.00 to $170.00 and gave the stock an equal weight rating in a report on Monday. ValuEngine raised NVIDIA from a sell rating to a hold rating in a report on Friday, March 1st. Tigress Financial reissued a buy rating on shares of NVIDIA in a report on Wednesday, March 20th. Finally, Nomura began coverage on NVIDIA in a report on Tuesday, April 2nd. They set a neutral rating and a $147.00 price objective for the company. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-five have assigned a buy rating to the company. NVIDIA has a consensus rating of Buy and a consensus price target of $198.93.
NVDA stock traded up $0.31 during mid-day trading on Thursday, reaching $160.50. 16,288,807 shares of the company traded hands, compared to its average volume of 11,056,514. The company has a quick ratio of 6.76, a current ratio of 7.94 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $97.10 billion, a PE ratio of 26.44, a PEG ratio of 3.88 and a beta of 1.85. NVIDIA has a 52-week low of $124.46 and a 52-week high of $292.76.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, May 16th. The computer hardware maker reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.07. NVIDIA had a return on equity of 41.78% and a net margin of 35.35%. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the previous year, the firm earned $2.05 earnings per share. NVIDIA’s revenue was down 30.8% on a year-over-year basis. On average, equities research analysts anticipate that NVIDIA will post 4.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 31st will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.40%. NVIDIA’s payout ratio is currently 10.54%.
In other NVIDIA news, EVP Debora Shoquist sold 5,823 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $185.00, for a total value of $1,077,255.00. Following the completion of the sale, the executive vice president now owns 171,783 shares in the company, valued at $31,779,855. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 14,092 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $183.33, for a total value of $2,583,486.36. The disclosure for this sale can be found here. Insiders sold 20,029 shares of company stock valued at $3,678,385 in the last quarter. Corporate insiders own 4.64% of the company’s stock.
A number of hedge funds have recently made changes to their positions in NVDA. Front Row Advisors LLC raised its holdings in shares of NVIDIA by 14.6% during the first quarter. Front Row Advisors LLC now owns 9,533 shares of the computer hardware maker’s stock valued at $1,712,000 after acquiring an additional 1,217 shares in the last quarter. Horizon Investments LLC bought a new position in shares of NVIDIA during the first quarter valued at approximately $398,000. Merit Financial Group LLC raised its holdings in shares of NVIDIA by 12.3% during the first quarter. Merit Financial Group LLC now owns 3,291 shares of the computer hardware maker’s stock valued at $590,000 after acquiring an additional 360 shares in the last quarter. Slow Capital Inc. raised its holdings in shares of NVIDIA by 34.6% during the first quarter. Slow Capital Inc. now owns 15,311 shares of the computer hardware maker’s stock valued at $2,749,000 after acquiring an additional 3,932 shares in the last quarter. Finally, Vulcan Value Partners LLC bought a new position in shares of NVIDIA during the first quarter valued at approximately $410,469,000. Hedge funds and other institutional investors own 70.03% of the company’s stock.
NVIDIA Corporation operates as a visual computing company worldwide. It operates in 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 artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which 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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