Jefferies Group LLC Raises NVIDIA Corporation (NVDA) Price Target to $240.00
NVIDIA Corporation (NASDAQ:NVDA) had its price objective lifted by Jefferies Group LLC from $230.00 to $240.00 in a research report released on Friday morning, Marketbeat.com reports. They currently have a buy rating on the computer hardware maker’s stock. Jefferies Group also issued estimates for NVIDIA Corporation’s Q4 2018 earnings at $1.13 EPS, Q1 2019 earnings at $0.92 EPS, Q2 2019 earnings at $1.04 EPS, Q3 2019 earnings at $1.24 EPS, Q4 2019 earnings at $1.30 EPS and FY2019 earnings at $4.50 EPS.
Other equities analysts also recently issued reports about the company. Citigroup Inc. reissued a buy rating and set a $180.00 price objective on shares of NVIDIA Corporation in a research report on Thursday, August 10th. Canaccord Genuity reissued a buy rating and set a $180.00 price objective (up from $155.00) on shares of NVIDIA Corporation in a research report on Monday, July 24th. Summit Redstone reaffirmed a buy rating on shares of NVIDIA Corporation in a report on Saturday, July 22nd. Mizuho reaffirmed a buy rating and issued a $170.00 price target on shares of NVIDIA Corporation in a report on Friday, July 21st. Finally, Bank of America Corporation reaffirmed a buy rating on shares of NVIDIA Corporation in a report on Monday, August 7th. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. NVIDIA Corporation has an average rating of Buy and a consensus price target of $185.41.
Shares of NVIDIA Corporation (NASDAQ NVDA) traded up $10.82 during trading on Friday, hitting $216.14. The stock had a trading volume of 31,331,300 shares, compared to its average volume of 13,613,651. NVIDIA Corporation has a 1-year low of $78.50 and a 1-year high of $218.67. The firm has a market capitalization of $129,684.00, a P/E ratio of 53.24, a PEG ratio of 5.34 and a beta of 1.23. The company has a debt-to-equity ratio of 0.31, a quick ratio of 7.42 and a current ratio of 8.26.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, November 9th. The computer hardware maker reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.39. NVIDIA Corporation had a return on equity of 42.71% and a net margin of 28.78%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous 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. analysts forecast that NVIDIA Corporation will post 3.61 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This is an increase from NVIDIA Corporation’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 0.28%. NVIDIA Corporation’s dividend payout ratio is 13.90%.
In other news, CFO Colette Kress sold 22,808 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $185.31, for a total value of $4,226,550.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Tench Coxe sold 50,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $189.62, for a total value of $9,481,000.00. The disclosure for this sale can be found here. Insiders have sold 436,503 shares of company stock worth $78,796,295 over the last quarter. 5.17% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Welch Investments LLC purchased a new position in shares of NVIDIA Corporation in the 3rd quarter worth about $104,000. Evercore Wealth Management LLC raised its holdings in shares of NVIDIA Corporation by 36.9% in the 2nd quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock worth $110,000 after purchasing an additional 206 shares during the period. TB Alternative Assets Ltd. purchased a new position in shares of NVIDIA Corporation in the 2nd quarter worth about $116,000. Thompson Davis & CO. Inc. raised its holdings in shares of NVIDIA Corporation by 0.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock worth $119,000 after purchasing an additional 6 shares during the period. Finally, Edge Advisors LLC raised its holdings in shares of NVIDIA Corporation by 98.8% in the 3rd quarter. Edge Advisors LLC now owns 835 shares of the computer hardware maker’s stock worth $149,000 after purchasing an additional 415 shares during the period. Institutional investors own 65.40% of the company’s stock.
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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