NVIDIA (NASDAQ:NVDA) Earns “Buy” Rating from Rosenblatt Securities

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Rosenblatt Securities reaffirmed their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a report published on Friday morning, AnalystRatings.com reports. Rosenblatt Securities currently has a $180.00 price objective on the computer hardware maker’s stock.

“We remain positively pre-disposed in the longer term on NVDA and believe the valuation at current levels supports an upside to $180.”,” Rosenblatt Securities’ analyst commented.

NVDA has been the topic of several other research reports. Morgan Stanley lifted their price target on shares of NVIDIA from $148.00 to $170.00 and gave the stock an equal weight rating in a research note on Monday, May 13th. UBS Group dropped their price target on shares of NVIDIA from $210.00 to $195.00 and set a buy rating on the stock in a research note on Friday, May 17th. Wedbush assumed coverage on shares of NVIDIA in a research note on Wednesday, June 26th. They set an outperform rating and a $184.00 price target on the stock. BidaskClub cut shares of NVIDIA from a buy rating to a hold rating in a research note on Saturday, August 3rd. Finally, Stifel Nicolaus dropped their price target on shares of NVIDIA from $150.00 to $145.00 and set a hold rating on the stock in a research note on Tuesday, May 14th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-eight have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $188.99.

Shares of NVIDIA stock opened at $170.78 on Friday. The company’s fifty day simple moving average is $163.59 and its 200-day simple moving average is $163.39. The stock has a market capitalization of $90.60 billion, a PE ratio of 28.14, a P/E/G ratio of 3.81 and a beta of 2.07. NVIDIA has a 1-year low of $124.46 and a 1-year high of $292.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 8.98 and a quick ratio of 7.78.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, August 15th. The computer hardware maker reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.37. The business had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.55 billion. NVIDIA had a net margin of 26.93% and a return on equity of 24.93%. The company’s revenue was down 17.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.94 EPS. As a group, research analysts anticipate that NVIDIA will post 4.19 EPS for the current year.

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

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

A number of hedge funds and other institutional investors have recently made changes to their positions in NVDA. Deltec Asset Management LLC bought a new stake in shares of NVIDIA in the 2nd quarter worth about $452,000. Rehmann Capital Advisory Group increased its holdings in shares of NVIDIA by 28.5% in the 1st quarter. Rehmann Capital Advisory Group now owns 1,558 shares of the computer hardware maker’s stock worth $280,000 after buying an additional 346 shares during the last quarter. Tdam USA Inc. increased its holdings in shares of NVIDIA by 15.5% in the 1st quarter. Tdam USA Inc. now owns 1,970 shares of the computer hardware maker’s stock worth $354,000 after buying an additional 264 shares during the last quarter. ACG Wealth increased its holdings in shares of NVIDIA by 5.5% in the 1st quarter. ACG Wealth now owns 30,488 shares of the computer hardware maker’s stock worth $5,474,000 after buying an additional 1,600 shares during the last quarter. Finally, Parnassus Investments CA increased its holdings in shares of NVIDIA by 4.2% in the 1st quarter. Parnassus Investments CA now owns 3,081,251 shares of the computer hardware maker’s stock worth $553,269,000 after buying an additional 124,922 shares during the last quarter. Institutional investors own 66.93% 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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