Barclays Lowers NVIDIA (NASDAQ:NVDA) Price Target to $180.00

NVIDIA (NASDAQ:NVDA) had its price target reduced by Barclays from $220.00 to $180.00 in a report published on Thursday, June 6th, The Fly reports. Barclays currently has an overweight rating on the computer hardware maker’s stock.

Several other research analysts have also commented on NVDA. Zacks Investment Research lowered shares of NVIDIA from a buy rating to a hold rating in a report on Thursday, May 16th. BidaskClub lowered shares of NVIDIA from a strong-buy rating to a buy rating in a report on Tuesday, April 16th. Summit Redstone lowered shares of NVIDIA to a hold rating in a report on Friday, May 17th. ValuEngine raised shares of NVIDIA from a sell rating to a hold rating in a report on Friday, March 1st. Finally, Tigress Financial reissued a buy rating on shares of NVIDIA in a research note on Wednesday, March 20th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-five have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $194.46.

Shares of NASDAQ:NVDA traded up $1.00 during midday trading on Thursday, hitting $164.23. 9,919,235 shares of the company’s stock traded hands, compared to its average volume of 10,281,478. NVIDIA has a twelve month low of $124.46 and a twelve month high of $292.76. The firm has a market capitalization of $99.41 billion, a P/E ratio of 27.06, a PEG ratio of 4.15 and a beta of 2.03. The company has a current ratio of 8.98, a quick ratio of 7.78 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average price of $150.47.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, May 16th. The computer hardware maker reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.07. NVIDIA had a net margin of 30.68% and a return on equity of 31.27%. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. The firm’s quarterly revenue was down 30.8% on a year-over-year basis. On average, equities research analysts forecast that NVIDIA will post 4.19 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, May 31st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Thursday, May 30th. NVIDIA’s dividend payout ratio is currently 10.54%.

In related news, Director Harvey C. Jones sold 100,000 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $145.10, for a total transaction of $14,510,000.00. Following the completion of the transaction, the director now directly owns 32,983 shares in the company, valued at approximately $4,785,833.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Debora Shoquist sold 5,823 shares of the company’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $185.00, for a total transaction of $1,077,255.00. Following the transaction, the executive vice president now owns 171,783 shares of the company’s stock, valued at $31,779,855. The disclosure for this sale can be found here. 4.64% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in NVDA. TD Capital Management LLC acquired a new stake in shares of NVIDIA during the 4th quarter worth about $27,000. Swedbank increased its position in shares of NVIDIA by 50.4% during the 4th quarter. Swedbank now owns 2,547,600 shares of the computer hardware maker’s stock worth $340,487,000 after purchasing an additional 854,050 shares in the last quarter. Norges Bank acquired a new stake in shares of NVIDIA during the 4th quarter worth about $737,230,000. Girard Partners LTD. increased its position in shares of NVIDIA by 25.1% during the 4th quarter. Girard Partners LTD. now owns 2,300 shares of the computer hardware maker’s stock worth $307,000 after purchasing an additional 461 shares in the last quarter. Finally, Tdam USA Inc. increased its position in shares of NVIDIA by 15.5% during the 1st quarter. Tdam USA Inc. now owns 1,970 shares of the computer hardware maker’s stock worth $354,000 after purchasing an additional 264 shares in the last quarter. Institutional investors own 67.51% of the company’s stock.

NVIDIA Company Profile

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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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