NVIDIA Co. (NASDAQ:NVDA) Receives Average Recommendation of “Buy” from Analysts

Shares of NVIDIA Co. (NASDAQ:NVDA) have earned an average rating of “Buy” from the forty-two ratings firms that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a sell rating, six have given a hold rating and thirty-two have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $351.14.

Several brokerages have commented on NVDA. Craig Hallum boosted their target price on NVIDIA from $300.00 to $335.00 and gave the stock a “hold” rating in a research note on Friday, May 22nd. Oppenheimer reissued a “buy” rating and set a $400.00 target price on shares of NVIDIA in a research note on Thursday, June 11th. Wells Fargo & Co boosted their target price on NVIDIA from $360.00 to $430.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Zacks Investment Research raised NVIDIA from a “hold” rating to a “buy” rating and set a $366.00 target price for the company in a research note on Wednesday, May 27th. Finally, Nomura boosted their price target on NVIDIA from $230.00 to $260.00 and gave the stock a “reduce” rating in a report on Friday, May 22nd.

NVDA stock traded up $11.91 during midday trading on Tuesday, reaching $379.91. The company had a trading volume of 9,179,893 shares, compared to its average volume of 13,463,640. The company has a market capitalization of $233.64 billion, a price-to-earnings ratio of 71.01, a price-to-earnings-growth ratio of 3.31 and a beta of 1.38. The stock has a 50 day moving average price of $355.60 and a 200-day moving average price of $281.72. NVIDIA has a 1-year low of $147.39 and a 1-year high of $385.70. The company has a debt-to-equity ratio of 0.57, a current ratio of 10.29 and a quick ratio of 9.70.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Thursday, May 21st. The computer hardware maker reported $1.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.44. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3 billion. NVIDIA had a return on equity of 28.59% and a net margin of 28.17%. The business’s quarterly revenue was up 38.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.88 earnings per share. As a group, research analysts anticipate that NVIDIA will post 6.56 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date was Thursday, June 4th. NVIDIA’s payout ratio is 13.94%.

In other news, Director Tench Coxe sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $349.08, for a total transaction of $17,454,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 12,849 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $372.86, for a total value of $4,790,878.14. Following the transaction, the executive vice president now directly owns 65,037 shares in the company, valued at $24,249,695.82. The disclosure for this sale can be found here. Insiders have sold a total of 188,471 shares of company stock worth $61,276,897 over the last 90 days. Company insiders own 4.47% of the company’s stock.

Several large investors have recently modified their holdings of NVDA. Orser Capital Management LLC raised its position in shares of NVIDIA by 5.6% during the fourth quarter. Orser Capital Management LLC now owns 10,206 shares of the computer hardware maker’s stock worth $2,371,000 after purchasing an additional 545 shares during the period. Victory Capital Management Inc. raised its position in shares of NVIDIA by 6.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,190,166 shares of the computer hardware maker’s stock worth $280,046,000 after purchasing an additional 75,203 shares during the period. Andra AP fonden raised its position in shares of NVIDIA by 68.7% during the fourth quarter. Andra AP fonden now owns 19,400 shares of the computer hardware maker’s stock worth $4,565,000 after purchasing an additional 7,900 shares during the period. BerganKDV Wealth Management LLC raised its position in shares of NVIDIA by 16.0% during the fourth quarter. BerganKDV Wealth Management LLC now owns 399 shares of the computer hardware maker’s stock worth $94,000 after purchasing an additional 55 shares during the period. Finally, Princeton Global Asset Management LLC raised its position in shares of NVIDIA by 116.1% during the fourth quarter. Princeton Global Asset Management LLC now owns 1,731 shares of the computer hardware maker’s stock worth $407,000 after purchasing an additional 930 shares during the period. 68.89% of the stock is currently owned by institutional investors.

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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