NVIDIA (NASDAQ:NVDA) Given New $170.00 Price Target at Barclays

NVIDIA (NASDAQ:NVDA) had its price objective trimmed by Barclays from $180.00 to $170.00 in a report released on Friday, The Fly reports. The firm currently has an overweight rating on the computer hardware maker’s stock.

Several other research firms also recently commented on NVDA. BMO Capital Markets reiterated a market perform rating and issued a $145.00 price objective on shares of NVIDIA in a research note on Friday. Royal Bank of Canada lowered their target price on shares of NVIDIA from $200.00 to $190.00 and set an outperform rating on the stock in a report on Tuesday, August 13th. Mizuho reissued a buy rating and set a $185.00 target price (down previously from $192.00) on shares of NVIDIA in a report on Friday. Morgan Stanley boosted their target price on shares of NVIDIA from $148.00 to $170.00 and gave the company an equal weight rating in a report on Monday, May 13th. Finally, Summit Insights cut shares of NVIDIA from a buy rating to a hold rating and set a $158.57 target price on the stock. in a report on Friday, May 17th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $188.99.

NVIDIA stock opened at $170.78 on Friday. NVIDIA has a 12 month low of $124.46 and a 12 month high of $292.76. 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 business’s 50 day simple moving average is $163.59 and its 200 day simple moving average is $163.39. The company has a market cap of $90.60 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 3.81 and a beta of 2.07.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, August 15th. The computer hardware maker reported $1.24 EPS for the quarter, beating the consensus estimate of $0.87 by $0.37. NVIDIA had a return on equity of 24.93% and a net margin of 26.93%. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the business earned $1.94 earnings per share. NVIDIA’s revenue for the quarter was down 17.4% on a year-over-year basis. As a group, equities research analysts forecast that NVIDIA will post 4.19 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, August 29th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.64 annualized dividend and a dividend yield of 0.37%. NVIDIA’s payout ratio is currently 10.54%.

In related news, CFO Colette Kress sold 2,236 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $164.01, for a total value of $366,726.36. Following the transaction, the chief financial officer now owns 239,710 shares of the company’s stock, valued at $39,314,837.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Persis Drell sold 2,500 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $166.80, for a total value of $417,000.00. Following the completion of the transaction, the director now directly owns 20,684 shares in the company, valued at approximately $3,450,091.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,736 shares of company stock worth $15,293,726. Insiders own 4.64% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in NVIDIA by 1.8% in the first quarter. FMR LLC now owns 49,860,097 shares of the computer hardware maker’s stock valued at $8,952,880,000 after acquiring an additional 858,116 shares during the last quarter. Vanguard Group Inc. increased its stake in NVIDIA by 1.2% in the second quarter. Vanguard Group Inc. now owns 45,990,868 shares of the computer hardware maker’s stock valued at $7,553,081,000 after acquiring an additional 528,040 shares during the last quarter. Jennison Associates LLC increased its stake in NVIDIA by 10.6% in the second quarter. Jennison Associates LLC now owns 8,690,058 shares of the computer hardware maker’s stock valued at $1,427,168,000 after acquiring an additional 832,508 shares during the last quarter. Edgewood Management LLC increased its stake in NVIDIA by 0.4% in the second quarter. Edgewood Management LLC now owns 7,890,343 shares of the computer hardware maker’s stock valued at $1,295,831,000 after acquiring an additional 31,623 shares during the last quarter. Finally, Baillie Gifford & Co. increased its stake in NVIDIA by 16.0% in the first quarter. Baillie Gifford & Co. now owns 7,647,342 shares of the computer hardware maker’s stock valued at $1,373,156,000 after acquiring an additional 1,052,689 shares during the last quarter. 66.93% of the stock is currently owned by institutional investors and hedge funds.

About NVIDIA

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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