NVIDIA Corporation (NVDA) Downgraded by Zacks Investment Research
According to Zacks, “NVIDIA Corporation offers digital media processors and related software for a wide range of visual computing platforms. The stock has outperformed the broader market in the last one year time frame. The company posted better-than-expected fourth-quarter fiscal 2017 results and provided encouraging first-quarter fiscal 2018 revenue guidance. Going ahead, NVIDIA’s sustained efforts toward attaining robust position in several emerging industries such as Artificial Intelligence (AI), deep learning and driverless cars industry, makes us optimistic about its growth prospect. Furthermore, by expanding its business avenues, the company will be able to reduce its dependency on the PC industry, which is currently declining. NVIDIA’s innovative product pipeline and strength in gaming and high-end notebook GPUs remain the positives. Nonetheless, the continuous decline in PC sales is a cause of concern for NVIDIA’s GPU segment.”
Several other analysts also recently issued reports on the company. Needham & Company LLC upgraded NVIDIA Corporation from a hold rating to a buy rating and increased their price target for the company from $87.97 to $100.00 in a report on Monday, November 14th. Citigroup Inc. set a $100.00 price target on NVIDIA Corporation and gave the company a buy rating in a report on Thursday, November 24th. Jefferies Group LLC reiterated a buy rating and issued a $80.00 price target on shares of NVIDIA Corporation in a report on Monday, October 24th. MKM Partners increased their price target on NVIDIA Corporation from $87.00 to $106.00 and gave the company a buy rating in a report on Tuesday, November 22nd. Finally, Vetr downgraded NVIDIA Corporation from a hold rating to a sell rating and set a $66.36 price target for the company. in a report on Monday, October 24th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty have issued a buy rating and four have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $98.90.
Shares of NVIDIA Corporation (NASDAQ:NVDA) opened at 107.25 on Tuesday. The firm has a market cap of $59.31 billion, a PE ratio of 41.73 and a beta of 1.31. NVIDIA Corporation has a 52-week low of $29.65 and a 52-week high of $120.92. The stock’s 50 day moving average price is $108.57 and its 200-day moving average price is $82.48.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, February 9th. The computer hardware maker reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.30. NVIDIA Corporation had a return on equity of 34.13% and a net margin of 23.82%. The firm earned $2.17 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the prior year, the firm earned $0.35 EPS. The firm’s quarterly revenue was up 54.9% compared to the same quarter last year. On average, equities research analysts anticipate that NVIDIA Corporation will post $2.77 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 17th. Investors of record on Friday, February 24th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, February 22nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.52%. NVIDIA Corporation’s dividend payout ratio is presently 21.96%.
In related news, EVP Debora Shoquist sold 19,265 shares of the firm’s stock in a transaction that occurred on Thursday, December 29th. The shares were sold at an average price of $104.88, for a total transaction of $2,020,513.20. Following the transaction, the executive vice president now owns 318,791 shares in the company, valued at $33,434,800.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jen Hsun Huang sold 41,666 shares of the firm’s stock in a transaction that occurred on Thursday, January 12th. The shares were sold at an average price of $102.74, for a total transaction of $4,280,764.84. Following the transaction, the insider now owns 1,751,872 shares in the company, valued at approximately $179,987,329.28. The disclosure for this sale can be found here. Insiders have sold 162,597 shares of company stock worth $17,895,685 in the last quarter. Company insiders own 5.82% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. West Oak Capital LLC raised its position in NVIDIA Corporation by 183.6% in the third quarter. West Oak Capital LLC now owns 1,560 shares of the computer hardware maker’s stock worth $107,000 after buying an additional 1,010 shares in the last quarter. Brick & Kyle Associates raised its position in NVIDIA Corporation by 25.1% in the second quarter. Brick & Kyle Associates now owns 2,502 shares of the computer hardware maker’s stock worth $118,000 after buying an additional 502 shares in the last quarter. Cornerstone Advisors Inc. raised its position in NVIDIA Corporation by 52.2% in the third quarter. Cornerstone Advisors Inc. now owns 1,784 shares of the computer hardware maker’s stock worth $122,000 after buying an additional 612 shares in the last quarter. Stephens Inc. AR raised its position in NVIDIA Corporation by 10.2% in the third quarter. Stephens Inc. AR now owns 1,926 shares of the computer hardware maker’s stock worth $132,000 after buying an additional 179 shares in the last quarter. Finally, Mascoma Wealth Management LLC bought a new position in NVIDIA Corporation during the fourth quarter worth approximately $154,000. Institutional investors and hedge funds own 85.00% of the company’s stock.
NVIDIA Corporation Company Profile
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.
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