B. Riley Reaffirms “Buy” Rating for NVIDIA Corporation (NVDA)
B. Riley reiterated their buy rating on shares of NVIDIA Corporation (NASDAQ:NVDA) in a research report report published on Thursday morning. They currently have a $200.00 target price on the computer hardware maker’s stock.
“We believe the development has potential to be a modest fundamental and psychological negative for NVDA in the intermediate-term, though believe the company remains the dominant autopilot solutions provider with a substantial competitive moat and very strong developer momentum. More specifically, we would be surprised if TSLA moved to an internal solution in the next year or perhaps two, so NVDA C17&18 Auto Platform estimates seem to have little risk. Further, we remind investors NVDA’s year-to-date autopilot partnership announcements with Mercedes-Benz, Toyota, Volkswagen’s Audi group and Volvo. We expect additional auto manufacturer partnerships will be struck later in 2017 and 2018, and as that happens expect non-recurring engineering (NRE) revenue will accelerate into C18.”,” B. Riley’s analyst commented.
A number of other research analysts have also weighed in on the company. Royal Bank Of Canada restated a buy rating and issued a $205.00 target price (up previously from $175.00) on shares of NVIDIA Corporation in a report on Monday, September 18th. Vetr lowered NVIDIA Corporation from a buy rating to a hold rating and set a $179.35 target price on the stock. in a report on Monday, September 18th. Evercore ISI raised their target price on NVIDIA Corporation from $180.00 to $250.00 and gave the company an outperform rating in a report on Friday, September 15th. Susquehanna Bancshares Inc raised their target price on NVIDIA Corporation from $140.00 to $155.00 and gave the company a neutral rating in a report on Thursday, September 14th. Finally, Jefferies Group LLC restated a buy rating and issued a $180.00 target price on shares of NVIDIA Corporation in a report on Tuesday, September 12th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $147.03.
Shares of NVIDIA Corporation (NASDAQ:NVDA) opened at 179.00 on Thursday. The company has a market cap of $107.40 billion, a PE ratio of 51.48 and a beta of 1.25. The firm has a 50-day moving average price of $167.68 and a 200 day moving average price of $138.76. NVIDIA Corporation has a 1-year low of $63.27 and a 1-year high of $191.20.
NVIDIA Corporation (NASDAQ:NVDA) last posted its earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, beating the Zacks’ 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 for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 56.2% on a year-over-year basis. On average, equities analysts anticipate that NVIDIA Corporation will post $3.63 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Investors of record on Thursday, August 24th were given a $0.14 dividend. The ex-dividend date was Tuesday, August 22nd. This represents a $0.56 annualized dividend and a yield of 0.31%. NVIDIA Corporation’s dividend payout ratio (DPR) is presently 15.86%.
In other news, insider Michael Byron sold 409 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $171.01, for a total transaction of $69,943.09. Following the transaction, the insider now directly owns 136,199 shares of the company’s stock, valued at approximately $23,291,390.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Harvey C. Jones sold 50,000 shares of the stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $150.84, for a total value of $7,542,000.00. Following the transaction, the director now directly owns 30,762 shares in the company, valued at $4,640,140.08. The disclosure for this sale can be found here. Insiders sold a total of 536,940 shares of company stock worth $91,728,080 over the last ninety days. 5.82% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MPS Loria Financial Planners LLC bought a new position in shares of NVIDIA Corporation during the 2nd quarter valued at $177,000. Frontier Investment Mgmt Co. bought a new position in shares of NVIDIA Corporation during the 2nd quarter valued at $4,003,000. Intl Fcstone Inc. bought a new position in shares of NVIDIA Corporation during the 2nd quarter valued at $254,000. Achmea Investment Management B.V. lifted its holdings in shares of NVIDIA Corporation by 3.9% during the 2nd quarter. Achmea Investment Management B.V. now owns 25,357 shares of the computer hardware maker’s stock valued at $3,663,000 after buying an additional 941 shares during the period. Finally, Lord Abbett & CO. LLC bought a new position in shares of NVIDIA Corporation during the 2nd quarter valued at $28,543,000. 65.79% of the stock is currently owned by hedge funds and other institutional investors.
About NVIDIA Corporation
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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