NVIDIA (NASDAQ:NVDA) Upgraded at Needham & Company LLC

Needham & Company LLC upgraded shares of NVIDIA (NASDAQ:NVDA) from an underperform rating to a hold rating in a research note issued to investors on Monday, Benzinga reports.

Several other brokerages also recently issued reports on NVDA. Bank of America boosted their price objective on NVIDIA from $275.00 to $300.00 and gave the stock a buy rating in a research report on Friday. Barclays boosted their price objective on NVIDIA from $170.00 to $225.00 and gave the stock an overweight rating in a research report on Friday, November 15th. Cowen boosted their price objective on NVIDIA from $195.00 to $240.00 and gave the stock an outperform rating in a research report on Friday, November 15th. Mizuho boosted their price objective on NVIDIA from $185.00 to $230.00 and gave the stock a buy rating in a research report on Friday, November 15th. Finally, Piper Jaffray Companies boosted their price objective on NVIDIA from $230.00 to $250.00 and gave the stock an overweight rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. NVIDIA presently has a consensus rating of Buy and an average price target of $227.61.

Shares of NASDAQ NVDA opened at $248.93 on Monday. The company has a current ratio of 8.42, a quick ratio of 7.71 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $228.71 and a 200-day simple moving average of $191.10. The company has a market cap of $152.28 billion, a PE ratio of 41.01, a P/E/G ratio of 6.05 and a beta of 2.04. NVIDIA has a 12-month low of $131.00 and a 12-month high of $252.99.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, November 14th. The computer hardware maker reported $1.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.21. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.92 billion. NVIDIA had a return on equity of 22.02% and a net margin of 24.08%. The business’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.84 earnings per share. Sell-side analysts forecast that NVIDIA will post 4.32 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend was Wednesday, November 27th. NVIDIA’s dividend payout ratio is currently 10.54%.

In other news, Director Robert K. Burgess sold 8,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $230.71, for a total transaction of $1,845,680.00. Following the completion of the transaction, the director now owns 13,894 shares of the company’s stock, valued at $3,205,484.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 2,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.43, for a total transaction of $470,860.00. Following the transaction, the chief financial officer now directly owns 169,989 shares of the company’s stock, valued at approximately $40,020,510.27. The disclosure for this sale can be found here. Insiders have sold 45,785 shares of company stock valued at $9,965,644 in the last ninety days. 4.64% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Marquette Asset Management LLC raised its position in NVIDIA by 416.7% in the third quarter. Marquette Asset Management LLC now owns 155 shares of the computer hardware maker’s stock worth $27,000 after purchasing an additional 125 shares in the last quarter. Pacific Center for Financial Services raised its position in NVIDIA by 143.1% in the second quarter. Pacific Center for Financial Services now owns 158 shares of the computer hardware maker’s stock worth $26,000 after purchasing an additional 93 shares in the last quarter. Investors Research Corp raised its position in NVIDIA by 313.0% in the third quarter. Investors Research Corp now owns 190 shares of the computer hardware maker’s stock worth $33,000 after purchasing an additional 144 shares in the last quarter. American National Bank acquired a new position in NVIDIA in the third quarter worth about $35,000. Finally, Bartlett & Co. LLC acquired a new position in NVIDIA in the third quarter worth about $37,000. 65.02% of the stock is 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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