NVIDIA (NVDA) Lowered to “Buy” at Vetr

Vetr lowered shares of NVIDIA (NASDAQ:NVDA) from a strong-buy rating to a buy rating in a research note released on Wednesday morning. The firm currently has $217.46 target price on the computer hardware maker’s stock.

Several other brokerages have also recently issued reports on NVDA. Citigroup restated a buy rating and issued a $210.00 target price (up previously from $185.00) on shares of NVIDIA in a report on Friday, September 29th. Sanford C. Bernstein restated an outperform rating on shares of NVIDIA in a report on Saturday, September 23rd. SunTrust Banks restated a buy rating and issued a $200.00 target price (up previously from $181.00) on shares of NVIDIA in a report on Monday, October 2nd. Barclays restated an equal weight rating and issued a $200.00 target price (up previously from $140.00) on shares of NVIDIA in a report on Wednesday, October 4th. Finally, Royal Bank of Canada restated a buy rating and issued a $205.00 target price (up previously from $175.00) on shares of NVIDIA in a report on Monday, September 18th. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $192.04.

Shares of NVIDIA (NVDA) opened at $215.40 on Wednesday. NVIDIA has a fifty-two week low of $95.17 and a fifty-two week high of $218.67. The company has a current ratio of 8.26, a quick ratio of 7.42 and a debt-to-equity ratio of 0.31. The company has a market cap of $130,530.00, a P/E ratio of 53.85, a PEG ratio of 5.02 and a beta of 1.18.

NVIDIA (NASDAQ:NVDA) last posted its quarterly 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. NVIDIA had a net margin of 28.78% and a return on equity of 42.71%. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the prior year, the company posted $0.94 earnings per share. The business’s revenue for the quarter was up 31.5% on a year-over-year basis. sell-side analysts forecast that NVIDIA will post 4.19 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 24th were paid a $0.15 dividend. This is a boost from NVIDIA’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Wednesday, November 22nd. NVIDIA’s dividend payout ratio (DPR) is presently 15.00%.

In other NVIDIA news, CFO Colette Kress sold 171 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $185.57, for a total value of $31,732.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Persis Drell sold 606 shares of the business’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $197.07, for a total transaction of $119,424.42. Following the completion of the sale, the director now directly owns 26,104 shares of the company’s stock, valued at $5,144,315.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,164 shares of company stock valued at $14,793,096. 5.82% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in NVDA. Janus Henderson Group PLC boosted its position in NVIDIA by 5,424.4% in the 2nd quarter. Janus Henderson Group PLC now owns 4,096,888 shares of the computer hardware maker’s stock valued at $592,244,000 after buying an additional 4,022,728 shares during the period. Vanguard Group Inc. boosted its position in NVIDIA by 7.1% in the 2nd quarter. Vanguard Group Inc. now owns 40,257,187 shares of the computer hardware maker’s stock valued at $5,819,579,000 after buying an additional 2,676,976 shares during the period. Jackson Square Partners LLC purchased a new stake in NVIDIA in the 2nd quarter valued at about $229,323,000. Renaissance Technologies LLC raised its holdings in shares of NVIDIA by 19.3% in the 2nd quarter. Renaissance Technologies LLC now owns 4,758,793 shares of the computer hardware maker’s stock valued at $687,931,000 after purchasing an additional 768,200 shares in the last quarter. Finally, Quantitative Investment Management LLC raised its holdings in shares of NVIDIA by 3,194.2% in the 2nd quarter. Quantitative Investment Management LLC now owns 678,600 shares of the computer hardware maker’s stock valued at $98,098,000 after purchasing an additional 658,000 shares in the last quarter. 63.41% of the stock is owned by institutional investors.

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NVIDIA 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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