NVIDIA (NVDA) Coverage Initiated by Analysts at FBN Securities

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FBN Securities initiated coverage on shares of NVIDIA (NASDAQ:NVDA) in a report published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $300.00 target price on the computer hardware maker’s stock.

NVDA has been the topic of several other reports. Vetr upgraded shares of NVIDIA from a buy rating to a strong-buy rating and set a $270.50 price objective on the stock in a report on Thursday, March 1st. Zacks Investment Research upgraded shares of NVIDIA from a hold rating to a buy rating and set a $286.00 price objective on the stock in a report on Tuesday, May 15th. ValuEngine upgraded shares of NVIDIA from a hold rating to a buy rating in a report on Monday, April 2nd. BidaskClub upgraded shares of NVIDIA from a buy rating to a strong-buy rating in a report on Wednesday, May 2nd. Finally, Argus upped their price objective on shares of NVIDIA from $250.00 to $280.00 and gave the company a buy rating in a report on Thursday, March 22nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirty have given a buy rating to the company’s stock. NVIDIA has a consensus rating of Buy and a consensus target price of $264.62.

NVIDIA opened at $236.90 on Tuesday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.82 and a current ratio of 8.54. NVIDIA has a 1 year low of $138.58 and a 1 year high of $269.20. The firm has a market cap of $146.20 billion, a price-to-earnings ratio of 50.73, a PEG ratio of 3.32 and a beta of 1.54.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, May 10th. The computer hardware maker reported $2.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.58. NVIDIA had a net margin of 34.44% and a return on equity of 52.18%. The firm had revenue of $3.21 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the firm posted $0.85 earnings per share. The company’s quarterly revenue was up 65.6% compared to the same quarter last year. equities research analysts anticipate that NVIDIA will post 7.08 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Thursday, May 24th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, May 23rd. This represents a $0.60 dividend on an annualized basis and a yield of 0.25%. NVIDIA’s payout ratio is 12.85%.

In other news, CFO Colette Kress sold 889 shares of the stock in a transaction dated Thursday, June 21st. The shares were sold at an average price of $257.64, for a total value of $229,041.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harvey C. Jones sold 100,000 shares of the stock in a transaction dated Tuesday, June 26th. The stock was sold at an average price of $242.11, for a total transaction of $24,211,000.00. Following the completion of the transaction, the director now directly owns 31,725 shares of the company’s stock, valued at approximately $7,680,939.75. The disclosure for this sale can be found here. Insiders have sold 308,308 shares of company stock worth $77,491,336 over the last quarter. Corporate insiders own 4.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Brown Advisory Inc. lifted its holdings in shares of NVIDIA by 152.5% in the first quarter. Brown Advisory Inc. now owns 7,473 shares of the computer hardware maker’s stock worth $1,730,000 after acquiring an additional 4,513 shares during the last quarter. Avalon Advisors LLC bought a new position in shares of NVIDIA in the first quarter worth about $12,942,000. Cynosure Advisors LLC bought a new position in shares of NVIDIA in the first quarter worth about $556,000. Allianz Life Insurance Co of North America bought a new position in shares of NVIDIA in the first quarter worth about $585,000. Finally, HighPoint Advisor Group LLC lifted its holdings in shares of NVIDIA by 111.6% in the first quarter. HighPoint Advisor Group LLC now owns 9,362 shares of the computer hardware maker’s stock worth $2,456,000 after acquiring an additional 4,937 shares during the last quarter. 65.03% of the stock is owned by hedge funds and other institutional investors.

About NVIDIA

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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