NVIDIA (NASDAQ:NVDA) Upgraded to Outperform by Robert W. Baird

Robert W. Baird upgraded shares of NVIDIA (NASDAQ:NVDA – Get Rating) from a neutral rating to an outperform rating in a research report released on Thursday morning, The Fly reports. The brokerage currently has $475.00 price target on the computer hardware maker’s stock, up from their prior price target of $300.00.

NVDA has been the subject of several other research reports. TheStreet upgraded shares of NVIDIA from a c+ rating to a b- rating in a report on Monday, March 20th. Credit Suisse Group set a $275.00 target price on shares of NVIDIA in a report on Wednesday, March 22nd. Barclays upped their target price on shares of NVIDIA from $250.00 to $275.00 and gave the company an overweight rating in a report on Thursday, February 23rd. Jefferies Financial Group upped their target price on shares of NVIDIA from $275.00 to $300.00 and gave the company a buy rating in a report on Thursday, February 23rd. Finally, Citigroup upped their target price on shares of NVIDIA from $245.00 to $305.00 and gave the company a buy rating in a report on Friday, March 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $375.13.

NVIDIA Trading Up 24.4 %

Shares of NASDAQ:NVDA opened at $379.80 on Thursday. NVIDIA has a 52 week low of $108.13 and a 52 week high of $394.80. The company’s 50 day moving average is $280.52 and its two-hundred day moving average is $218.29. The company has a current ratio of 3.52, a quick ratio of 2.73 and a debt-to-equity ratio of 0.44. The company has a market cap of $939.29 billion, a PE ratio of 197.81, a P/E/G ratio of 5.31 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA – Get Rating) last announced its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. NVIDIA had a net margin of 18.52% and a return on equity of 24.18%. The company had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $6.52 billion. During the same period in the prior year, the firm posted $1.18 EPS. The company’s quarterly revenue was down 13.2% compared to the same quarter last year. Equities analysts predict that NVIDIA will post 3.28 earnings per share for the current fiscal year.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of NVIDIA stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the completion of the transaction, the executive vice president now owns 139,860 shares in the company, valued at $42,657,300. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other NVIDIA news, CFO Colette Kress sold 6,000 shares of NVIDIA stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $229.29, for a total transaction of $1,375,740.00. Following the completion of the transaction, the chief financial officer now owns 561,401 shares in the company, valued at $128,723,635.29. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Debora Shoquist sold 23,084 shares of NVIDIA stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the transaction, the executive vice president now owns 139,860 shares of the company’s stock, valued at approximately $42,657,300. The disclosure for this sale can be found here. In the last three months, insiders sold 54,084 shares of company stock worth $14,516,510. 3.99% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors have recently modified their holdings of NVDA. GoalVest Advisory LLC raised its position in shares of NVIDIA by 124.1% in the fourth quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock valued at $28,000 after buying an additional 108 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of NVIDIA in the first quarter valued at approximately $28,000. Nordwand Advisors LLC acquired a new position in shares of NVIDIA in the first quarter valued at approximately $28,000. Riggs Asset Managment Co. Inc. raised its position in shares of NVIDIA by 271.2% in the third quarter. Riggs Asset Managment Co. Inc. now owns 245 shares of the computer hardware maker’s stock valued at $30,000 after buying an additional 179 shares during the last quarter. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in shares of NVIDIA in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

NVIDIA Company Profile

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, 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.