Bank of America Corp. reaffirmed their buy rating on shares of Nvidia Corp. (NASDAQ:NVDA) in a report issued on Wednesday morning. The brokerage currently has a $80.00 price target on the computer hardware maker’s stock.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Nvidia Corp. from a hold rating to a buy rating and set a $51.00 price objective for the company in a report on Tuesday, June 28th. Vetr upgraded shares of Nvidia Corp. from a hold rating to a buy rating and set a $47.09 target price for the company in a research report on Monday, June 27th. B. Riley reiterated a buy rating and set a $58.00 target price on shares of Nvidia Corp. in a research report on Wednesday, June 22nd. Canaccord Genuity reiterated a buy rating and set a $55.00 target price (up previously from $45.00) on shares of Nvidia Corp. in a research report on Thursday, June 16th. Finally, Mizuho began coverage on shares of Nvidia Corp. in a research report on Thursday, July 14th. They set a buy rating and a $60.00 target price for the company. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nineteen have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $58.45.
Shares of Nvidia Corp. (NASDAQ:NVDA) traded up 0.06% during mid-day trading on Wednesday, hitting $66.03. 933,861 shares of the stock were exchanged. Nvidia Corp. has a 1-year low of $24.75 and a 1-year high of $69.70. The company’s 50-day moving average is $64.34 and its 200-day moving average is $51.04. The firm has a market cap of $35.33 billion, a price-to-earnings ratio of 43.38 and a beta of 1.25.
Nvidia Corp. (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. The company earned $1.43 billion during the quarter, compared to the consensus estimate of $1.35 billion. Nvidia Corp. had a net margin of 16.58% and a return on equity of 20.86%. The firm’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period last year, the firm earned $0.34 EPS. Equities research analysts anticipate that Nvidia Corp. will post $1.85 earnings per share for the current fiscal year.
In related news, Director Tench Coxe sold 48,000 shares of the company’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $63.66, for a total transaction of $3,055,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jen Hsun Huang sold 40,000 shares of the company’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $58.66, for a total transaction of $2,346,400.00. Following the sale, the insider now directly owns 1,817,279 shares of the company’s stock, valued at approximately $106,601,586.14. The disclosure for this sale can be found here. 5.82% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of NVDA. West Oak Capital LLC boosted its stake in Nvidia Corp. by 183.6% in the third quarter. West Oak Capital LLC now owns 1,560 shares of the computer hardware maker’s stock valued at $107,000 after buying an additional 1,010 shares in the last quarter. Brick & Kyle Associates boosted its stake in Nvidia Corp. by 25.1% in the second quarter. Brick & Kyle Associates now owns 2,502 shares of the computer hardware maker’s stock valued at $118,000 after buying an additional 502 shares in the last quarter. Compagnie Lombard Odier SCmA boosted its stake in Nvidia Corp. by 72.6% in the second quarter. Compagnie Lombard Odier SCmA now owns 3,365 shares of the computer hardware maker’s stock valued at $159,000 after buying an additional 1,415 shares in the last quarter. CenturyLink Investment Management Co purchased a new stake in Nvidia Corp. during the third quarter valued at $183,000. Finally, Aviance Capital Management LLC purchased a new stake in Nvidia Corp. during the second quarter valued at $200,000. 86.29% of the stock is owned by institutional investors and hedge funds.
Nvidia Corp. Company Profile
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.
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