B. Riley reaffirmed their buy rating on shares of NVIDIA Corporation (NASDAQ:NVDA) in a research note released on Thursday. The firm currently has a $200.00 price objective on the computer hardware maker’s stock.
“We believe the development has potential to be a modest fundamental and psychological negative for NVDA in the intermediate-term, though believe the company remains the dominant autopilot solutions provider with a substantial competitive moat and very strong developer momentum. More specifically, we would be surprised if TSLA moved to an internal solution in the next year or perhaps two, so NVDA C17&18 Auto Platform estimates seem to have little risk. Further, we remind investors NVDA’s year-to-date autopilot partnership announcements with Mercedes-Benz, Toyota, Volkswagen’s Audi group and Volvo. We expect additional auto manufacturer partnerships will be struck later in 2017 and 2018, and as that happens expect non-recurring engineering (NRE) revenue will accelerate into C18.”,” B. Riley’s analyst wrote.
A number of other brokerages have also commented on NVDA. Mizuho reissued a buy rating and set a $180.00 price target (up from $170.00) on shares of NVIDIA Corporation in a research note on Friday, August 11th. Susquehanna Bancshares Inc reissued a neutral rating and set a $140.00 price target on shares of NVIDIA Corporation in a research note on Wednesday, August 16th. Bank of America Corporation reissued a buy rating and set a $185.00 price target on shares of NVIDIA Corporation in a research note on Wednesday, June 21st. Vetr lowered NVIDIA Corporation from a buy rating to a hold rating and set a $172.54 price target on the stock. in a research note on Thursday, August 31st. Finally, Zacks Investment Research raised NVIDIA Corporation from a hold rating to a strong-buy rating and set a $169.00 price target on the stock in a research note on Tuesday, July 11th. Six investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $147.22.
NVIDIA Corporation (NASDAQ NVDA) opened at 179.00 on Thursday. The firm has a market capitalization of $107.40 billion, a P/E ratio of 51.48 and a beta of 1.25. NVIDIA Corporation has a 52-week low of $63.53 and a 52-week high of $191.20. The firm’s 50-day moving average is $167.68 and its 200-day moving average is $138.76.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the firm posted $0.53 earnings per share. The business’s revenue for the quarter was up 56.2% on a year-over-year basis. On average, equities analysts expect that NVIDIA Corporation will post $3.63 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Thursday, August 24th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.31%. NVIDIA Corporation’s dividend payout ratio is presently 15.86%.
In other news, Director Mark A. Stevens sold 80,250 shares of the company’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $187.23, for a total transaction of $15,025,207.50. Following the transaction, the director now owns 37,382 shares of the company’s stock, valued at approximately $6,999,031.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harvey C. Jones sold 50,000 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $150.84, for a total value of $7,542,000.00. Following the transaction, the director now directly owns 30,762 shares in the company, valued at approximately $4,640,140.08. The disclosure for this sale can be found here. Insiders have sold a total of 536,940 shares of company stock worth $91,728,080 in the last ninety days. Insiders own 5.82% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of NVDA. Evercore Wealth Management LLC lifted its position in shares of NVIDIA Corporation by 36.9% during 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 last quarter. TB Alternative Assets Ltd. purchased a new position in shares of NVIDIA Corporation during the 2nd quarter valued at $116,000. Proficio Capital Partners LLC lifted its position in shares of NVIDIA Corporation by 186.1% during the 1st quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock valued at $117,000 after buying an additional 547 shares during the last quarter. Thompson Davis & CO. Inc. lifted its position in shares of NVIDIA Corporation by 0.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock valued at $119,000 after buying an additional 6 shares during the last quarter. Finally, Hanson McClain Inc. lifted its position in shares of NVIDIA Corporation by 12.7% during the 2nd quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker’s stock valued at $127,000 after buying an additional 99 shares during the last quarter. 65.79% of the stock is currently owned by hedge funds and other institutional investors.
NVIDIA Corporation Company Profile
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.
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