NVIDIA Corporation (NASDAQ:NVDA) announced that it has priced its offering of $2.0 billion of unsecured notes. The notes consist of $1.0 billion of 2.20% notes due 2021 and $1.0 billion of 3.20% notes due 2026. The company anticipates that the offering will close on or around Sept. 16, 2016, subject to customary closing conditions.

NVIDIA intends to use the net proceeds of the offering to prefund the repayment of the principal amount of its convertible notes and for general corporate purposes such as dividend payments or share repurchases. (Original Source)

Shares of Nvidia Corporation closed yesterday at $59.87, down $0.88 or -1.45%. NVDA has a 1-year high of $63.50 and a 1-year low of $22.50. The stock’s 50-day moving average is $60.23 and its 200-day moving average is $45.75.

On the ratings front, Nvidia has been the subject of a number of recent research reports. In a report released yesterday, RBC analyst Mitch Steves maintained a Buy rating on NVDA, with a price target of $72, which implies an upside of 20% from current levels. Separately, on September 12, Nomura’s Romit Shah reiterated a Buy rating on the stock and has a price target of $62.50.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Mitch Steves and Romit Shah have a total average return of 13.2% and 9.5% respectively. Steves has a success rate of 87.5% and is ranked #553 out of 4163 analysts, while Shah has a success rate of 61% and is ranked #255.

Overall, 2 research analysts have rated the stock with a Sell rating, 7 research analysts have assigned a Hold rating and 12 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $65.41 which is 9.3% above where the stock closed yesterday.

NVIDIA Corp. is a visual computing company, connecting people through computer graphics. It is engaged in creating graphics chips, which is used in personal computers. The company operates through two segments: Graphics Processing Unit and Tegra Processor. The Graphics Processing Unit segment includes sales of the company’s GeForce discrete and chipset products that supports desktop and notebook PCs plus license fees from Intel and sales of memory products. The Tegra Processors segment provides processors that deliver superior visual and multimedia experience on tablets, smart phones and gaming devices while consuming minimal power.