Nvidia Corp.’s (NVDA) Outperform Rating Reaffirmed at RBC Capital Markets

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Nvidia Corp. (NASDAQ:NVDA)‘s stock had its “outperform” rating reissued by investment analysts at RBC Capital Markets in a research note issued to investors on Wednesday. They currently have a $72.00 price target on the computer hardware maker’s stock. RBC Capital Markets’ price objective would suggest a potential upside of 20.26% from the stock’s current price.
Several other analysts also recently issued reports on NVDA. Bank of America Corp. restated a “buy” rating and issued a $50.00 price target (up from $43.00) on shares of Nvidia Corp. in a research note on Tuesday, May 17th. B. Riley restated a “buy” rating and issued a $45.00 price target on shares of Nvidia Corp. in a research note on Thursday, May 19th. Jefferies Group restated a “buy” rating and issued a $45.00 price target on shares of Nvidia Corp. in a research note on Sunday, May 22nd. Vetr downgraded Nvidia Corp. from a “sell” rating to a “strong sell” rating and set a $39.13 price target for the company. in a research note on Monday, May 23rd. Finally, Goldman Sachs Group Inc. initiated coverage on Nvidia Corp. in a research note on Thursday, June 2nd. They issued a “buy” rating and a $54.00 price target for the company. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Nvidia Corp. has a consensus rating of “Buy” and an average price target of $54.97.
Shares of Nvidia Corp. (NASDAQ:NVDA) traded up 0.22% during mid-day trading on Wednesday, hitting $60.00. The stock had a trading volume of 2,968,451 shares. The stock’s 50-day moving average price is $60.29 and its 200 day moving average price is $45.97. Nvidia Corp. has a 1-year low of $22.50 and a 1-year high of $63.50. The company has a market capitalization of $32.10 billion, a P/E ratio of 39.42 and a beta of 1.26.

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Nvidia Corp. (NASDAQ:NVDA) last issued its earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, topping 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 company earned $1.43 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the company posted $0.34 EPS. The firm’s revenue for the quarter was up 23.9% compared to the same quarter last year. On average, analysts predict that Nvidia Corp. will post $1.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Thursday, August 25th will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Tuesday, August 23rd. Nvidia Corp.’s dividend payout ratio is currently 30.26%.
In other news, insider Jen Hsun Huang sold 43,727 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $62.81, for a total value of $2,746,492.87. Following the completion of the transaction, the insider now directly owns 1,827,279 shares of the company’s stock, valued at $114,771,393.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Byron sold 409 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $63.35, for a total value of $25,910.15. The disclosure for this sale can be found here. 5.82% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of NVDA. Brick & Kyle Associates raised its position in Nvidia Corp. 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 during the last quarter. Compagnie Lombard Odier SCmA raised its position in Nvidia Corp. by 72.6% in the second quarter. Compagnie Lombard Odier SCmA now owns 3,365 shares of the computer hardware maker’s stock worth $159,000 after buying an additional 1,415 shares during the last quarter. Aviance Capital Management LLC bought a new position in Nvidia Corp. during the second quarter worth approximately $200,000. Stratos Wealth Partners LTD. bought a new position in Nvidia Corp. during the second quarter worth approximately $201,000. Finally, Broderick Brian C bought a new position in Nvidia Corp. during the second quarter worth approximately $209,000. 86.69% of the stock is owned by hedge funds and other institutional investors.
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.

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