NVIDIA (NASDAQ:NVDA) had its target price lowered by Barclays from $180.00 to $170.00 in a research note released on Friday, The Fly reports. The brokerage currently has an overweight rating on the computer hardware maker’s stock.
Several other brokerages have also weighed in on NVDA. Wells Fargo & Co restated a buy rating on shares of NVIDIA in a research report on Monday, August 12th. UBS Group lowered their target price on shares of NVIDIA from $210.00 to $195.00 and set a buy rating on the stock in a research report on Friday, May 17th. Mizuho restated a buy rating and set a $185.00 target price (down from $192.00) on shares of NVIDIA in a research report on Friday. Zacks Investment Research lowered shares of NVIDIA from a buy rating to a hold rating in a research report on Thursday, May 16th. Finally, BMO Capital Markets reiterated a market perform rating and issued a $145.00 price target on shares of NVIDIA in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-six have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $193.04.
Shares of NVDA opened at $159.56 on Friday. The company has a current ratio of 8.98, a quick ratio of 7.78 and a debt-to-equity ratio of 0.25. The firm’s 50-day moving average is $163.66 and its two-hundred day moving average is $163.39. NVIDIA has a twelve month low of $124.46 and a twelve month high of $292.76. The firm has a market capitalization of $90.60 billion, a P/E ratio of 26.29, a PEG ratio of 3.81 and a beta of 2.07.
NVIDIA (NASDAQ:NVDA) last issued its earnings results on Thursday, August 15th. The computer hardware maker reported $1.24 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.37. NVIDIA had a net margin of 26.93% and a return on equity of 24.93%. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the business posted $1.94 earnings per share. The firm’s revenue for the quarter was down 17.4% compared to the same quarter last year. Analysts predict that NVIDIA will post 4.19 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Thursday, August 29th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.40%. NVIDIA’s dividend payout ratio is currently 10.54%.
In other news, Director Harvey C. Jones sold 100,000 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $145.10, for a total value of $14,510,000.00. Following the transaction, the director now owns 32,983 shares of the company’s stock, valued at approximately $4,785,833.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Persis Drell sold 2,500 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $166.80, for a total transaction of $417,000.00. Following the completion of the transaction, the director now directly owns 20,684 shares in the company, valued at approximately $3,450,091.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,736 shares of company stock worth $15,293,726. 4.64% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Deltec Asset Management LLC purchased a new position in shares of NVIDIA in the 2nd quarter valued at $452,000. Rehmann Capital Advisory Group raised its stake in shares of NVIDIA by 28.5% in the 1st quarter. Rehmann Capital Advisory Group now owns 1,558 shares of the computer hardware maker’s stock valued at $280,000 after acquiring an additional 346 shares during the period. Tdam USA Inc. raised its stake in shares of NVIDIA by 15.5% in the 1st quarter. Tdam USA Inc. now owns 1,970 shares of the computer hardware maker’s stock valued at $354,000 after acquiring an additional 264 shares during the period. ACG Wealth raised its stake in shares of NVIDIA by 5.5% in the 1st quarter. ACG Wealth now owns 30,488 shares of the computer hardware maker’s stock valued at $5,474,000 after acquiring an additional 1,600 shares during the period. Finally, Parnassus Investments CA raised its stake in shares of NVIDIA by 4.2% in the 1st quarter. Parnassus Investments CA now owns 3,081,251 shares of the computer hardware maker’s stock valued at $553,269,000 after acquiring an additional 124,922 shares during the period. 67.54% of the stock is currently owned by institutional investors and hedge funds.
NVIDIA Company Profile
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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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