Rosenblatt Securities Reiterates Buy Rating for NVIDIA (NASDAQ:NVDA)

Rosenblatt Securities reaffirmed their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a report issued on Friday morning, AnalystRatings.com reports. The brokerage currently has a $180.00 target price on the computer hardware maker’s stock.

“We remain positively pre-disposed in the longer term on NVDA and believe the valuation at current levels supports an upside to $180.”,” the firm’s analyst commented.

Several other equities research analysts have also recently weighed in on NVDA. Morgan Stanley upped their price target on shares of NVIDIA from $148.00 to $170.00 and gave the stock an equal weight rating in a research report on Monday, May 13th. Mizuho reaffirmed a buy rating and issued a $185.00 price target (down previously from $192.00) on shares of NVIDIA in a research report on Friday. Wells Fargo & Co reaffirmed a buy rating on shares of NVIDIA in a research report on Monday, August 12th. UBS Group lowered their price target on shares of NVIDIA from $210.00 to $195.00 and set a buy rating for the company in a research report on Friday, May 17th. Finally, Summit Insights cut shares of NVIDIA from a buy rating to a hold rating and set a $158.57 target price for the company. in a research report on Friday, May 17th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-eight have issued a buy rating to the company. NVIDIA presently has a consensus rating of Buy and an average target price of $188.99.

Shares of NVDA opened at $170.78 on Friday. The company has a 50 day moving average price of $163.59 and a 200-day moving average price of $163.39. NVIDIA has a fifty-two week low of $124.46 and a fifty-two week high of $292.76. The stock has a market capitalization of $90.60 billion, a PE ratio of 28.14, a PEG ratio of 3.81 and a beta of 2.07. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.78 and a current ratio of 8.98.

NVIDIA (NASDAQ:NVDA) last announced its quarterly 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 firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the prior year, the company earned $1.94 EPS. The company’s revenue was down 17.4% compared to the same quarter last year. Equities research analysts forecast 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. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.64 dividend on an annualized basis and a yield of 0.37%. NVIDIA’s payout ratio is 10.54%.

In other news, Director Persis Drell sold 2,500 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $166.80, for a total value of $417,000.00. Following the sale, the director now owns 20,684 shares in the company, valued at $3,450,091.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harvey C. Jones sold 100,000 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $145.10, for a total transaction of $14,510,000.00. Following the completion of the sale, the director now owns 32,983 shares in the company, valued at approximately $4,785,833.30. The disclosure for this sale can be found here. Insiders have sold a total of 104,736 shares of company stock worth $15,293,726 in the last 90 days. 4.64% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Hellman Jordan Management Co. Inc. MA increased its stake in shares of NVIDIA by 64.1% in the second quarter. Hellman Jordan Management Co. Inc. MA now owns 5,173 shares of the computer hardware maker’s stock worth $850,000 after acquiring an additional 2,021 shares during the period. WealthPLAN Partners LLC boosted its holdings in NVIDIA by 10.8% during the second quarter. WealthPLAN Partners LLC now owns 1,901 shares of the computer hardware maker’s stock worth $297,000 after buying an additional 185 shares in the last quarter. Chartwell Investment Partners LLC boosted its holdings in NVIDIA by 28.6% during the second quarter. Chartwell Investment Partners LLC now owns 38,793 shares of the computer hardware maker’s stock worth $6,371,000 after buying an additional 8,630 shares in the last quarter. Griffin Asset Management Inc. boosted its holdings in NVIDIA by 106.4% during the second quarter. Griffin Asset Management Inc. now owns 4,470 shares of the computer hardware maker’s stock worth $734,000 after buying an additional 2,304 shares in the last quarter. Finally, Colony Group LLC boosted its holdings in NVIDIA by 78.5% during the second quarter. Colony Group LLC now owns 6,972 shares of the computer hardware maker’s stock worth $1,145,000 after buying an additional 3,066 shares in the last quarter. Hedge funds and other institutional investors own 66.93% of the company’s stock.

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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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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