Trade Report: Today, Nvidia Corp. (NVDA) Rating Reiterate by Canaccord Genuity

Today, Nvidia Corp. (NVDA) Rating Reiterate by Canaccord Genuity

Nvidia Corp. (NASDAQ:NVDA)‘s stock had its “buy” rating reissued by research analysts at Canaccord Genuity in a report issued on Tuesday. They presently have a $97.00 target price on the computer hardware maker’s stock, up from their previous target price of $80.00. Canaccord Genuity’s price objective indicates a potential upside of 3.02% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. B. Riley restated a “buy” rating and set a $64.50 price objective on shares of Nvidia Corp. in a research report on Tuesday, July 26th. Needham & Company LLC restated a “buy” rating on shares of Nvidia Corp. in a research report on Monday, July 18th. Mizuho started coverage on shares of Nvidia Corp. in a research report on Thursday, July 14th. They set a “buy” rating and a $60.00 price objective on the stock. Jefferies Group increased their price objective on shares of Nvidia Corp. from $56.00 to $69.00 and gave the company a “buy” rating in a research report on Monday, August 8th. Finally, Roth Capital set a $68.00 price target on shares of Nvidia Corp. and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Nvidia Corp. presently has an average rating of “Buy” and a consensus target price of $72.15.

Nvidia Corp. (NASDAQ:NVDA) opened at 94.16 on Tuesday. The stock’s 50 day moving average is $74.93 and its 200-day moving average is $59.58. Nvidia Corp. has a 52-week low of $24.75 and a 52-week high of $95.25. The stock has a market capitalization of $50.66 billion, a price-to-earnings ratio of 48.11 and a beta of 1.17.

Nvidia Corp. (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, November 10th. The computer hardware maker reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.37. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.69 billion. Nvidia Corp. had a net margin of 19.52% and a return on equity of 26.82%. The firm’s revenue for the quarter was up 53.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 earnings per share. Equities research analysts anticipate that Nvidia Corp. will post $2.42 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Monday, November 28th will be given a $0.14 dividend. The ex-dividend date is Wednesday, November 23rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.59%. This is an increase from Nvidia Corp.’s previous quarterly dividend of $0.12. Nvidia Corp.’s payout ratio is presently 29.32%.

In other Nvidia Corp. news, CFO Colette Kress sold 38,039 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $62.18, for a total transaction of $2,365,265.02. Following the sale, the chief financial officer now owns 512,374 shares of the company’s stock, valued at approximately $31,859,415.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $63.66, for a total transaction of $3,055,680.00. The disclosure for this sale can be found here. 5.82% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in NVDA. Columbus Circle Investors increased its stake in Nvidia Corp. by 22.2% in the second quarter. Columbus Circle Investors now owns 1,087,665 shares of the computer hardware maker’s stock valued at $51,131,000 after buying an additional 197,299 shares in the last quarter. Trinity Street Asset Management LLP increased its stake in Nvidia Corp. by 154.6% in the second quarter. Trinity Street Asset Management LLP now owns 563,363 shares of the computer hardware maker’s stock valued at $26,483,000 after buying an additional 342,092 shares in the last quarter. Natixis increased its stake in Nvidia Corp. by 91.1% in the first quarter. Natixis now owns 1,754,727 shares of the computer hardware maker’s stock valued at $62,521,000 after buying an additional 836,276 shares in the last quarter. Legal & General Group Plc increased its stake in Nvidia Corp. by 5.1% in the first quarter. Legal & General Group Plc now owns 2,243,547 shares of the computer hardware maker’s stock valued at $79,938,000 after buying an additional 107,884 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in Nvidia Corp. by 36.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 155,034 shares of the computer hardware maker’s stock valued at $10,623,000 after buying an additional 41,450 shares in the last quarter. 86.85% of the stock is currently owned by institutional investors.

About Nvidia Corp.

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