NVIDIA Co. (NVDA) Receives “Buy” Rating from Jefferies Group LLC

Jefferies Group LLC reiterated their buy rating on shares of NVIDIA Co. (NASDAQ:NVDA) in a research note issued to investors on Wednesday, May 10th. They currently have a $140.00 price target on the computer hardware maker’s stock.

NVDA has been the subject of several other reports. B. Riley reaffirmed a buy rating and issued a $135.00 target price on shares of NVIDIA in a research report on Friday, February 10th. Instinet increased their price target on shares of NVIDIA to $100.00 in a research note on Friday, February 10th. Royal Bank of Canada increased their price target on shares of NVIDIA from $124.00 to $130.00 and gave the stock an outperform rating in a research note on Friday, February 10th. Summit Redstone set a $120.00 price target on shares of NVIDIA and gave the stock a buy rating in a research note on Saturday, February 11th. Finally, Barclays PLC restated an equal weight rating and set a $105.00 price objective (up from $90.00) on shares of NVIDIA in a research note on Wednesday, May 10th. Six investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $113.02.

Shares of NVIDIA (NVDA) opened at 143.64 on Wednesday. NVIDIA has a 12 month low of $44.57 and a 12 month high of $147.00. The company has a market cap of $85.47 billion, a PE ratio of 48.22 and a beta of 1.31. The firm’s 50 day moving average is $119.59 and its 200 day moving average is $107.11.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.16. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.91 billion. NVIDIA had a net margin of 26.17% and a return on equity of 34.19%. The firm’s revenue for the quarter was up 48.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.46 EPS. On average, equities analysts predict that NVIDIA will post $3.08 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 14th. Shareholders of record on Tuesday, May 23rd will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, May 19th. This represents a $0.56 annualized dividend and a yield of 0.39%. NVIDIA’s dividend payout ratio is currently 21.96%.

In other news, EVP Debora Shoquist sold 63,717 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $144.81, for a total transaction of $9,226,858.77. Following the transaction, the executive vice president now directly owns 330,040 shares of the company’s stock, valued at $47,793,092.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 53,458 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $105.32, for a total transaction of $5,630,196.56. Following the transaction, the chief financial officer now directly owns 391,354 shares in the company, valued at $41,217,403.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 488,252 shares of company stock worth $59,216,841. Insiders own 5.82% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in NVDA. DnB Asset Management AS boosted its position in shares of NVIDIA by 9.6% in the third quarter. DnB Asset Management AS now owns 49,128 shares of the computer hardware maker’s stock valued at $3,366,000 after buying an additional 4,300 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of NVIDIA by 721.8% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 380,235 shares of the computer hardware maker’s stock worth $26,053,000 after buying an additional 333,965 shares during the period. Kissinger Financial Services LLC purchased a new position in shares of NVIDIA during the third quarter worth about $808,000. Tocqueville Asset Management L.P. boosted its position in shares of NVIDIA by 33.5% in the third quarter. Tocqueville Asset Management L.P. now owns 167,343 shares of the computer hardware maker’s stock worth $11,466,000 after buying an additional 41,988 shares during the period. Finally, Mizuho Trust & Banking Co. Ltd. boosted its position in shares of NVIDIA by 2.3% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 925,966 shares of the computer hardware maker’s stock worth $63,447,000 after buying an additional 20,468 shares during the period. 85.00% of the stock is currently owned by institutional investors.

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.

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