UBS Begins Coverage on Nvidia (NVDA)

UBS assumed coverage on shares of Nvidia (NASDAQ:NVDA) in a research report sent to investors on Wednesday morning, www.benzinga.com reports. The firm issued a neutral rating and a $250.00 target price on the computer hardware maker’s stock.

NVDA has been the subject of a number of other reports. Vetr lowered Nvidia from a hold rating to a sell rating and set a $234.76 price target for the company. in a research note on Monday, January 29th. Zacks Investment Research lowered Nvidia from a strong-buy rating to a hold rating in a research note on Monday, January 15th. Argus raised their price target on Nvidia from $250.00 to $280.00 and gave the stock a buy rating in a research note on Thursday, March 22nd. They noted that the move was a valuation call. BidaskClub raised Nvidia from a buy rating to a strong-buy rating in a research note on Friday, February 16th. Finally, Royal Bank of Canada reissued an outperform rating and set a $285.00 price target (up from $280.00) on shares of Nvidia in a research note on Wednesday, March 14th. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Nvidia presently has an average rating of Buy and an average price target of $217.16.

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Shares of Nvidia stock opened at $214.25 on Wednesday. The company has a market capitalization of $133,934.91, a PE ratio of 45.88, a P/E/G ratio of 3.48 and a beta of 1.51. The company has a debt-to-equity ratio of 0.27, a current ratio of 8.03 and a quick ratio of 7.34. Nvidia has a one year low of $95.49 and a one year high of $254.50.

Nvidia (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, February 8th. The computer hardware maker reported $1.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.56. Nvidia had a return on equity of 45.02% and a net margin of 31.36%. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period last year, the company earned $1.13 EPS. Nvidia’s quarterly revenue was up 34.0% compared to the same quarter last year. research analysts forecast that Nvidia will post 6.21 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, February 23rd were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Thursday, February 22nd. Nvidia’s payout ratio is 12.85%.

In other news, Director Mark L. Perry sold 17,307 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $227.93, for a total value of $3,944,784.51. Following the completion of the transaction, the director now directly owns 30,762 shares of the company’s stock, valued at approximately $7,011,582.66. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Persis Drell sold 5,141 shares of the business’s stock in a transaction on Wednesday, March 28th. The stock was sold at an average price of $220.73, for a total value of $1,134,772.93. Following the transaction, the director now owns 20,963 shares in the company, valued at $4,627,162.99. The disclosure for this sale can be found here. Over the last three months, insiders sold 94,959 shares of company stock valued at $22,692,182. Corporate insiders own 5.82% of the company’s stock.

A number of hedge funds have recently made changes to their positions in NVDA. Country Trust Bank grew its stake in Nvidia by 490.0% during the 4th quarter. Country Trust Bank now owns 590 shares of the computer hardware maker’s stock worth $114,000 after buying an additional 490 shares during the last quarter. Global Trust Asset Management LLC purchased a new position in Nvidia during the 4th quarter worth $116,000. Clearbridge Investments LLC grew its stake in Nvidia by 100.0% during the 4th quarter. Clearbridge Investments LLC now owns 600 shares of the computer hardware maker’s stock worth $116,000 after buying an additional 300 shares during the last quarter. North Star Investment Management Corp. grew its stake in Nvidia by 67.3% during the 4th quarter. North Star Investment Management Corp. now owns 634 shares of the computer hardware maker’s stock worth $123,000 after buying an additional 255 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new position in Nvidia during the 4th quarter worth $148,000. Hedge funds and other institutional investors own 66.94% of the company’s stock.

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Nvidia Company Profile

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

Analyst Recommendations for Nvidia (NASDAQ:NVDA)

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