NVIDIA’s (NVDA) Buy Rating Reaffirmed at Susquehanna Bancshares

Susquehanna Bancshares reiterated their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a report published on Friday morning, Stock Target Advisor reports. They currently have a $420.00 target price on the computer hardware maker’s stock.

A number of other research analysts also recently issued reports on NVDA. Cowen boosted their price objective on NVIDIA from $325.00 to $410.00 and gave the company an outperform rating in a research note on Friday. Needham & Company LLC boosted their price objective on NVIDIA from $360.00 to $400.00 and gave the company a buy rating in a research note on Friday. SunTrust Banks boosted their price objective on NVIDIA from $327.00 to $384.00 and gave the company a buy rating in a research note on Friday. Goldman Sachs Group reaffirmed a buy rating on shares of NVIDIA in a research note on Tuesday, February 18th. Finally, Benchmark upped their price target on NVIDIA from $320.00 to $410.00 and gave the stock a buy rating in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $340.68.

Shares of NASDAQ NVDA traded up $10.04 during trading on Friday, reaching $361.05. The company had a trading volume of 25,601,366 shares, compared to its average volume of 12,644,931. The company’s fifty day moving average price is $292.70 and its 200-day moving average price is $252.32. NVIDIA has a 12 month low of $132.60 and a 12 month high of $363.72. The stock has a market cap 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 has a quick ratio of 7.13, a current ratio of 7.67 and a debt-to-equity ratio of 0.21.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.18%. NVIDIA’s dividend payout ratio is presently 13.94%.

In other news, Director James C. Gaither sold 15,669 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $269.41, for a total value of $4,221,385.29. Following the completion of the transaction, the director now directly owns 2,221 shares of the company’s stock, valued at $598,359.61. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $261.63, for a total value of $15,697,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 105,669 shares of company stock valued at $27,025,985. 4.64% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in NVIDIA by 6.1% during the first quarter. BlackRock Inc. now owns 42,753,245 shares of the computer hardware maker’s stock valued at $11,269,755,000 after purchasing an additional 2,439,025 shares during the period. State Street Corp grew its holdings in NVIDIA by 1.4% during the fourth quarter. State Street Corp now owns 24,989,675 shares of the computer hardware maker’s stock valued at $5,880,071,000 after purchasing an additional 342,849 shares during the period. Geode Capital Management LLC grew its holdings in NVIDIA by 8.6% during the first quarter. Geode Capital Management LLC now owns 9,400,154 shares of the computer hardware maker’s stock valued at $2,473,368,000 after purchasing an additional 743,155 shares during the period. Jennison Associates LLC grew its holdings in NVIDIA by 6.1% during the first quarter. Jennison Associates LLC now owns 8,756,756 shares of the computer hardware maker’s stock valued at $2,308,281,000 after purchasing an additional 505,125 shares during the period. Finally, Baillie Gifford & Co. grew its holdings in NVIDIA by 2.8% during the fourth quarter. Baillie Gifford & Co. now owns 7,711,347 shares of the computer hardware maker’s stock valued at $1,814,480,000 after purchasing an additional 210,550 shares during the period. 66.68% 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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