NVIDIA’s (NVDA) “Buy” Rating Reaffirmed at Mizuho

Mizuho reissued their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a report released on Friday, The Fly reports. They currently have a $400.00 price target on the computer hardware maker’s stock, up from their prior price target of $295.00.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Co dropped their price objective on shares of NVIDIA from $320.00 to $280.00 and set an overweight rating on the stock in a research note on Friday, March 20th. Cowen restated an outperform rating and set a $325.00 target price (up from $240.00) on shares of NVIDIA in a research report on Friday, February 14th. Sanford C. Bernstein restated a buy rating and set a $360.00 target price on shares of NVIDIA in a research report on Friday, May 15th. Tigress Financial restated a buy rating on shares of NVIDIA in a research report on Wednesday, April 22nd. Finally, Morgan Stanley boosted their target price on shares of NVIDIA from $268.00 to $282.00 and gave the stock an overweight rating in a research report on Tuesday, April 28th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. NVIDIA has an average rating of Buy and an average price target of $340.68.

NVDA traded up $10.04 during trading on Friday, hitting $361.05. The stock had a trading volume of 25,601,366 shares, compared to its average volume of 12,644,931. The company has a debt-to-equity ratio of 0.21, a quick ratio of 7.13 and a current ratio of 7.67. The firm has a market capitalization of $215.92 billion, a P/E ratio of 67.49, a PEG ratio of 3.68 and a beta of 1.33. The company’s 50-day moving average price is $292.70 and its 200 day moving average price is $252.32. NVIDIA has a twelve month low of $132.60 and a twelve month high of $363.72.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, May 21st. The computer hardware maker reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.44. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3 billion. NVIDIA had a net margin of 28.17% and a return on equity of 29.76%. NVIDIA’s revenue was up 38.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 EPS. As a group, equities analysts expect that NVIDIA will post 6.29 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.18%. NVIDIA’s dividend payout ratio is currently 13.94%.

In other news, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $266.02, for a total transaction of $2,660,200.00. Following the completion of the transaction, the director now owns 160,545 shares of the company’s stock, valued at approximately $42,708,180.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James C. Gaither sold 15,669 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $269.41, for a total transaction of $4,221,385.29. Following the sale, the director now directly owns 2,221 shares of the company’s stock, valued at approximately $598,359.61. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 105,669 shares of company stock valued at $27,025,985. Corporate insiders own 4.64% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its position in NVIDIA by 21.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,354,466 shares of the computer hardware maker’s stock worth $357,037,000 after purchasing an additional 240,520 shares in the last quarter. FDx Advisors Inc. increased its position in NVIDIA by 25.3% during the 1st quarter. FDx Advisors Inc. now owns 9,566 shares of the computer hardware maker’s stock worth $2,522,000 after purchasing an additional 1,930 shares in the last quarter. Clearbridge Investments LLC increased its position in NVIDIA by 1.2% during the 1st quarter. Clearbridge Investments LLC now owns 2,894,465 shares of the computer hardware maker’s stock worth $762,981,000 after purchasing an additional 34,306 shares in the last quarter. Cim Investment Mangement Inc. increased its position in NVIDIA by 13.3% during the 1st quarter. Cim Investment Mangement Inc. now owns 3,764 shares of the computer hardware maker’s stock worth $992,000 after purchasing an additional 443 shares in the last quarter. Finally, Equitable Trust Co. increased its position in NVIDIA by 585.4% during the 1st quarter. Equitable Trust Co. now owns 13,894 shares of the computer hardware maker’s stock worth $3,662,000 after purchasing an additional 11,867 shares in the last quarter. 66.68% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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