NVIDIA (NASDAQ:NVDA) Upgraded to Market Perform at BMO Capital Markets

BMO Capital Markets upgraded shares of NVIDIA (NASDAQ:NVDA) from an underperform rating to a market perform rating in a research report report published on Monday, November 13th. They currently have $216.14 price target on the computer hardware maker’s stock, down from their previous price target of $218.67.

A number of other research analysts also recently issued reports on the company. Raymond James Financial boosted their price target on NVIDIA and gave the company an outperform rating in a report on Friday, November 10th. Bank of America set a $210.00 price target on NVIDIA and gave the company a buy rating in a report on Thursday, October 12th. Canaccord Genuity reaffirmed a buy rating and set a $190.00 target price on shares of NVIDIA in a research note on Friday, September 8th. Royal Bank Of Canada upped their target price on NVIDIA from $230.00 to $240.00 and gave the stock an outperform rating in a research note on Friday, November 10th. Finally, BidaskClub raised NVIDIA from a buy rating to a strong-buy rating in a research note on Monday, July 24th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $187.38.

Shares of NVIDIA (NVDA) traded down $3.03 during mid-day trading on Monday, hitting $197.68. The stock had a trading volume of 20,249,432 shares, compared to its average volume of 13,732,517. NVIDIA has a 1-year low of $85.12 and a 1-year high of $218.67. The stock has a market capitalization of $121,630.27, a price-to-earnings ratio of 49.44, a price-to-earnings-growth ratio of 4.34 and a beta of 1.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.26 and a quick ratio of 7.42.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.39. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.36 billion. NVIDIA had a return on equity of 42.71% and a net margin of 28.78%. NVIDIA’s revenue for the quarter was up 31.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 earnings per share. equities analysts expect that NVIDIA will post 4.13 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Wednesday, November 22nd. This is a positive change from NVIDIA’s previous quarterly dividend of $0.14. NVIDIA’s dividend payout ratio (DPR) is 14.89%.

In other NVIDIA news, insider Jen Hsun Huang sold 110,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $166.08, for a total value of $18,268,800.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director A Brooke Seawell sold 1,029 shares of NVIDIA stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $214.10, for a total value of $220,308.90. Following the completion of the transaction, the director now owns 1,029 shares in the company, valued at $220,308.90. The disclosure for this sale can be found here. Insiders have sold a total of 425,175 shares of company stock worth $77,696,879 in the last three months. Corporate insiders own 5.82% of the company’s stock.

Several hedge funds have recently made changes to their positions in the business. Welch Investments LLC acquired a new stake in shares of NVIDIA in the 3rd quarter valued at approximately $104,000. Evercore Wealth Management LLC lifted its holdings in shares of NVIDIA by 36.9% in the 2nd quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock valued at $110,000 after buying an additional 206 shares during the period. TB Alternative Assets Ltd. acquired a new position in NVIDIA during the second quarter worth $116,000. Proficio Capital Partners LLC raised its holdings in NVIDIA by 186.1% during the first quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock worth $117,000 after purchasing an additional 547 shares during the last quarter. Finally, Thompson Davis & CO. Inc. raised its holdings in NVIDIA by 0.7% during the second quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock worth $119,000 after purchasing an additional 6 shares during the last quarter. Institutional investors own 64.14% of the company’s stock.

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About NVIDIA

Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at 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.

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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