Published On: Sun, Sep 18th, 2016

Nvidia Corp. (NVDA) Raised to “Strong-Buy” at Vetr Inc.

Nvidia Corp. (NASDAQ:NVDA) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Monday. The firm currently has a $67.52 price objective on the computer hardware maker’s stock. Vetr‘s target price points to a potential upside of 7.41% from the company’s current price.
Several other research firms have also recently weighed in on NVDA. Jefferies Group reiterated a “buy” rating and set a $45.00 price objective on shares of Nvidia Corp. in a report on Sunday, May 22nd. RBC Capital Markets reiterated an “outperform” rating and set a $72.00 price objective on shares of Nvidia Corp. in a report on Wednesday, August 31st. B. Riley reiterated a “buy” rating and set a $58.00 price objective on shares of Nvidia Corp. in a report on Monday, July 11th. Goldman Sachs Group Inc. lifted their price objective on Nvidia Corp. to $70.00 and gave the company a “buy” rating in a report on Friday, August 12th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $59.00 price objective on shares of Nvidia Corp. in a report on Friday, August 12th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty have issued a buy rating to the stock. Nvidia Corp. has a consensus rating of “Buy” and a consensus target price of $55.75.
Shares of Nvidia Corp. (NASDAQ:NVDA) traded up 0.24% during midday trading on Monday, reaching $62.84. The company’s stock had a trading volume of 22,561,149 shares. Nvidia Corp. has a 12 month low of $22.50 and a 12 month high of $63.50. The firm has a market cap of $33.62 billion, a price-to-earnings ratio of 41.29 and a beta of 1.26. The company has a 50-day moving average price of $60.29 and a 200-day moving average price of $45.97.

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Nvidia Corp. (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.16. Nvidia Corp. had a return on equity of 20.86% and a net margin of 16.58%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the business posted $0.34 EPS. Nvidia Corp.’s revenue for the quarter was up 23.9% on a year-over-year basis. Equities analysts expect that Nvidia Corp. will post $1.85 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, August 25th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $0.46 annualized dividend and a dividend yield of 0.73%. Nvidia Corp.’s payout ratio is 30.26%.
In related news, Director Mark L. Perry sold 35,000 shares of the company’s stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $52.93, for a total transaction of $1,852,550.00. Following the sale, the director now owns 97,292 shares in the company, valued at approximately $5,149,665.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 40,000 shares of the company’s stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $52.94, for a total value of $2,117,600.00. Following the sale, the chief executive officer now owns 1,817,279 shares in the company, valued at approximately $96,206,750.26. The disclosure for this sale can be found here. Corporate insiders own 5.82% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vident Investment Advisory LLC raised its position in shares of Nvidia Corp. by 67.0% in the fourth quarter. Vident Investment Advisory LLC now owns 68,308 shares of the computer hardware maker’s stock valued at $2,251,000 after buying an additional 27,409 shares during the last quarter. Kalos Management Inc. purchased a new position in shares of Nvidia Corp. during the fourth quarter valued at about $2,387,000. Cambridge Financial Group Inc. purchased a new position in shares of Nvidia Corp. during the fourth quarter valued at about $5,636,000. Public Employees Retirement System of Ohio raised its position in shares of Nvidia Corp. by 2.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 175,784 shares of the computer hardware maker’s stock valued at $5,794,000 after buying an additional 4,634 shares during the last quarter. Finally, IBM Retirement Fund raised its position in shares of Nvidia Corp. by 5.4% in the fourth quarter. IBM Retirement Fund now owns 131,060 shares of the computer hardware maker’s stock valued at $4,320,000 after buying an additional 6,761 shares during the last quarter. Institutional investors and hedge funds own 86.69% of the company’s stock.
About Nvidia Corp.
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.

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

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