NVIDIA (NASDAQ:NVDA) Earns “Equal Weight” Rating from Morgan Stanley

Morgan Stanley reissued their equal weight rating on shares of NVIDIA (NASDAQ:NVDA) in a research note published on Friday, 24/7 WallStreet reports. The firm currently has a $180.00 price objective on the computer hardware maker’s stock, up from their previous price objective of $170.00.

NVDA has been the subject of several other reports. Summit Redstone downgraded NVIDIA to a hold rating in a report on Friday, May 17th. Stifel Nicolaus lowered their price target on NVIDIA from $150.00 to $145.00 and set a hold rating for the company in a report on Tuesday, May 14th. BMO Capital Markets restated a market perform rating and issued a $145.00 price target on shares of NVIDIA in a report on Friday. Sanford C. Bernstein set a $150.00 price target on NVIDIA and gave the stock a hold rating in a report on Wednesday, June 26th. Finally, Summit Insights downgraded NVIDIA from a buy rating to a hold rating and set a $158.57 price target for the company. in a report on Friday, May 17th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-eight have issued a buy rating to the company. NVIDIA currently has a consensus rating of Buy and an average price target of $188.99.

NASDAQ NVDA opened at $170.78 on Friday. The stock has a 50-day simple moving average of $163.59 and a 200 day simple moving average of $163.39. The company 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. The company has a current ratio of 8.98, a quick ratio of 7.78 and a debt-to-equity ratio of 0.25. NVIDIA has a 12 month low of $124.46 and a 12 month high of $292.76.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, August 15th. The computer hardware maker reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.37. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.55 billion. NVIDIA had a return on equity of 24.93% and a net margin of 26.93%. The firm’s revenue was down 17.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.94 earnings per share. As a group, sell-side analysts predict that NVIDIA will post 4.19 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, August 29th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.64 annualized dividend and a dividend yield of 0.37%. NVIDIA’s dividend payout ratio is currently 10.54%.

In related news, CFO Colette Kress sold 2,236 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $164.01, for a total transaction of $366,726.36. Following the completion of the transaction, the chief financial officer now directly owns 239,710 shares of the company’s stock, valued at $39,314,837.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harvey C. Jones sold 100,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $145.10, for a total value of $14,510,000.00. Following the transaction, the director now directly owns 32,983 shares of the company’s stock, valued at $4,785,833.30. The disclosure for this sale can be found here. Insiders have sold 104,736 shares of company stock valued at $15,293,726 over the last ninety days. 4.64% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of NVDA. Deltec Asset Management LLC bought a new stake in NVIDIA in the second quarter valued at approximately $452,000. Rehmann Capital Advisory Group raised its stake in NVIDIA by 28.5% in the first quarter. Rehmann Capital Advisory Group now owns 1,558 shares of the computer hardware maker’s stock valued at $280,000 after buying an additional 346 shares during the period. Tdam USA Inc. raised its stake in NVIDIA by 15.5% in the first quarter. Tdam USA Inc. now owns 1,970 shares of the computer hardware maker’s stock valued at $354,000 after buying an additional 264 shares during the period. ACG Wealth raised its stake in NVIDIA by 5.5% in the first quarter. ACG Wealth now owns 30,488 shares of the computer hardware maker’s stock valued at $5,474,000 after buying an additional 1,600 shares during the period. Finally, Parnassus Investments CA raised its stake in NVIDIA by 4.2% in the first quarter. Parnassus Investments CA now owns 3,081,251 shares of the computer hardware maker’s stock valued at $553,269,000 after buying an additional 124,922 shares during the period. 66.93% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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