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JEFFERIES: Nvidia has 'tectonic upside' (NVDA)

11 November 2017

SEAWELL A BROOKE also sold $434,980 worth of NVIDIA Corporation (NASDAQ:NVDA) on Wednesday, May 24. The rating was maintained by Wedbush with "Outperform" on Friday, May 13. In the past 52 weeks the company's stock price has moved within the range of $66.76 to $212.90. BidaskClub lowered shares of RPX Corporation from a hold rating to a sell rating in a research report on Tuesday, August 1st. The stock has "Neutral" rating by Sterne Agee CRT on Friday, February 26. Mizuho maintained the stock with "Buy" rating in Monday, October 16 report. The stock boasts a consensus analyst "Buy" rating with the consensus recommendation standing at 2.00. 511,881 are held by Ajo L P. Hancock Company has invested 0.01% of its portfolio in RPX Corp (NASDAQ:RPXC). NVIDIA Corporation now has an average rating of "Hold" and a consensus price target of $179.43. NVIDIA Corporation has a one year low of $78.50 and a one year high of $215.77. The stock of RPX Corp (NASDAQ:RPXC) earned "Neutral" rating by Robert W. Baird on Wednesday, December 16. As of today, the company has a SMA200 (200-day simple moving average) of 42.1 Percent. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.36 billion.

NVIDIA Corporation (NASDAQ:NVDA) posted solid quarterly results yesterday after the closing bell, and buried within the report was much weaker demand from cryptocurrency miners. While crypto is far from a core offering of NVDA's, the situation is worth monitoring in coming quarters, because if demand continues to wane, so too will expectations for crypto's contribution to the company's future earnings.

Revenue from the business, Nvidia's second-biggest revenue contributor, more than doubled to US$501 million in the quarter and easily beat analysts' estimate of US$474.2 million, according to Thomson Reuters I/B/E/S.

In terms of management's outlook for the fourth quarter, revenue is anticipated to be $2.65 billion, give or take 2%, with a gross margin of 60.0% and operating expenses of $600 million. A year prior, the company posted non-GAAP earnings of 83 cents per share on revenue of $2 billion.

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Nvidia's total revenue rose 31.5 percent to $2.64 billion, and profit surged 54.6 percent to $838 million, or $1.33 per share, in the quarter ended October 29. If you are accessing this piece on another website, it was copied illegally and reposted in violation of worldwide trademark and copyright laws. The correct version of this piece of content can be read at nvidia-corp-nvda-coverage-initiated-by-analysts-at-loop-capital/1229324/. Shareholders of record on Monday, November 20th will be given a dividend of $0.05 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.29%. This is a positive change from NVIDIA Corporation's previous quarterly dividend of $0.14. The stock has "Outperform" rating by Cowen & Co on Friday, November 4. NVIDIA Corporation's payout ratio is now 16.05%.

Several other institutional investors have also recently bought and sold shares of NVDA. About 17.05M shares traded or 31.46% up from the average. The company has market cap of $158.84 million. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. $9.23M worth of stock was sold by Shoquist Debora on Tuesday, May 30. Its down 10% from 1.43M shares previously. The disclosure for this sale can be found here. Institutional investors and hedge funds own 65.59% of the company's stock. 131 funds opened positions while 273 raised stakes.

Essex Financial Services Inc decreased Colgate Palmolive Co (NYSE:CL) stake by 11,162 shares to 10,353 valued at $767,000 in 2017Q2. Insiders have sold a total of 452,784 shares of company stock valued at $81,437,724 in the last quarter. Massachusetts Financial Services Co.

Bbr Partners Llc decreased Brown Forman Corp (BF.B) stake by 77.51% reported in 2017Q2 SEC filing. Appleton Ma stated it has 2,570 shares. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker's stock valued at $2,715,000 after purchasing an additional 2,836 shares in the last quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker's stock worth $127,000 after purchasing an additional 99 shares during the period.

JEFFERIES: Nvidia has 'tectonic upside' (NVDA)