NVIDIA Corporation (NVDA) Price Target Raised to $190.00 at Canaccord Genuity

NVIDIA Corporation (NASDAQ:NVDA) had its target price boosted by Canaccord Genuity from $180.00 to $190.00 in a research note issued to investors on Monday. Canaccord Genuity currently has a buy rating on the computer hardware maker’s stock.

Several other research firms have also commented on NVDA. Bank of America Corporation reiterated a buy rating on shares of NVIDIA Corporation in a research note on Monday, August 7th. B. Riley restated a buy rating and issued a $200.00 price target (up from $135.00) on shares of NVIDIA Corporation in a research report on Monday, August 7th. BidaskClub upgraded NVIDIA Corporation from a buy rating to a strong-buy rating in a research report on Tuesday, August 8th. Vetr lowered NVIDIA Corporation from a buy rating to a hold rating and set a $177.02 price target for the company. in a research report on Wednesday, August 9th. Finally, Citigroup Inc. restated a buy rating and issued a $180.00 price target on shares of NVIDIA Corporation in a research report on Thursday, August 10th. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $145.00.

NVIDIA Corporation (NVDA) traded up 0.29% during mid-day trading on Monday, hitting $161.94. The company had a trading volume of 11,417,906 shares. The company has a 50-day moving average price of $161.14 and a 200 day moving average price of $128.99. The firm has a market capitalization of $96.68 billion, a P/E ratio of 46.57 and a beta of 1.24. NVIDIA Corporation has a 12 month low of $57.31 and a 12 month high of $174.56.

NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the business earned $0.53 EPS. NVIDIA Corporation’s quarterly revenue was up 56.2% on a year-over-year basis. Equities analysts forecast that NVIDIA Corporation will post $3.60 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Thursday, August 24th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend is Tuesday, August 22nd. NVIDIA Corporation’s payout ratio is 15.86%.

In other NVIDIA Corporation news, EVP Ajay K. Puri sold 81,931 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $139.90, for a total transaction of $11,462,146.90. Following the transaction, the executive vice president now owns 564,696 shares of the company’s stock, valued at $79,000,970.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director A Brooke Seawell sold 3,107 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $140.00, for a total value of $434,980.00. Following the transaction, the director now directly owns 5,165 shares in the company, valued at approximately $723,100. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 560,556 shares of company stock worth $85,649,706. Corporate insiders own 5.82% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Thompson Davis & CO. Inc. raised its position in shares of NVIDIA Corporation by 0.7% in the second 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. Arete Wealth Advisors LLC raised its position in shares of NVIDIA Corporation by 0.3% in the first quarter. Arete Wealth Advisors LLC now owns 2,884 shares of the computer hardware maker’s stock valued at $314,000 after buying an additional 10 shares during the last quarter. Family Firm Inc. raised its position in shares of NVIDIA Corporation by 0.7% in the second quarter. Family Firm Inc. now owns 1,968 shares of the computer hardware maker’s stock valued at $284,000 after buying an additional 13 shares during the last quarter. Appleton Partners Inc. MA raised its position in shares of NVIDIA Corporation by 1.2% in the second quarter. Appleton Partners Inc. MA now owns 2,570 shares of the computer hardware maker’s stock valued at $372,000 after buying an additional 30 shares during the last quarter. Finally, Carnegie Capital Asset Management LLC raised its position in shares of NVIDIA Corporation by 0.4% in the second quarter. Carnegie Capital Asset Management LLC now owns 7,371 shares of the computer hardware maker’s stock valued at $1,212,000 after buying an additional 30 shares during the last quarter. 68.55% of the stock is currently owned by 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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