Vetr lowered shares of Nvidia Corp. (NASDAQ:NVDA) from a buy rating to a hold rating in a research report released on Monday morning. Vetr currently has $65.46 price objective on the computer hardware maker’s stock.
A number of other equities analysts have also recently weighed in on the company. Bank of America Corp. reaffirmed a buy rating and issued a $80.00 price target on shares of Nvidia Corp. in a report on Wednesday, October 12th. Wells Fargo & Co. reaffirmed an underperform rating on shares of Nvidia Corp. in a report on Friday, September 30th. Susquehanna began coverage on Nvidia Corp. in a report on Tuesday, September 20th. They issued a neutral rating and a $66.00 price target for the company. SunTrust Banks Inc. began coverage on Nvidia Corp. in a report on Monday, September 19th. They issued a neutral rating and a $59.00 price target for the company. Finally, B. Riley reaffirmed a buy rating and issued a $73.00 price target on shares of Nvidia Corp. in a report on Sunday, September 18th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nineteen have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $58.45.
Shares of Nvidia Corp. (NASDAQ:NVDA) opened at 65.61 on Monday. The company has a market capitalization of $35.10 billion, a price-to-earnings ratio of 43.11 and a beta of 1.25. Nvidia Corp. has a 1-year low of $24.75 and a 1-year high of $69.70. The stock has a 50 day moving average price of $64.45 and a 200 day moving average price of $51.48.
Nvidia Corp. (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.16. The business earned $1.43 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Nvidia Corp. had a return on equity of 20.86% and a net margin of 16.58%. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 EPS. On average, equities analysts anticipate that Nvidia Corp. will post $1.85 EPS for the current fiscal year.
In other news, insider Michael Byron sold 409 shares of Nvidia Corp. stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $63.35, for a total transaction of $25,910.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tench Coxe sold 85,551 shares of Nvidia Corp. stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $68.75, for a total transaction of $5,881,631.25. The disclosure for this sale can be found here. 5.82% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. Jennison Associates LLC increased its stake in Nvidia Corp. by 568.9% in the second quarter. Jennison Associates LLC now owns 9,402,566 shares of the computer hardware maker’s stock worth $442,015,000 after buying an additional 7,996,913 shares during the last quarter. Capital World Investors bought a new stake in Nvidia Corp. during the second quarter worth about $172,995,000. Egerton Capital UK LLP increased its stake in Nvidia Corp. by 51.6% in the second quarter. Egerton Capital UK LLP now owns 4,751,116 shares of the computer hardware maker’s stock worth $223,350,000 after buying an additional 1,616,816 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in Nvidia Corp. by 93.1% in the second quarter. UBS Asset Management Americas Inc. now owns 3,256,177 shares of the computer hardware maker’s stock worth $153,075,000 after buying an additional 1,570,339 shares during the last quarter. Finally, 1832 Asset Management L.P. bought a new stake in Nvidia Corp. during the second quarter worth about $107,511,000. Institutional investors own 86.29% of the company’s stock.
About Nvidia Corp.
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.
To view Vetr’s full report, visit Vetr’s official website.
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