BidaskClub upgraded shares of NVIDIA Corporation (NASDAQ:NVDA) from a hold rating to a buy rating in a research note published on Tuesday.
A number of other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of NVIDIA Corporation from a hold rating to a strong-buy rating and set a $169.00 price objective for the company in a research report on Tuesday, July 11th. Jefferies Group LLC raised NVIDIA Corporation to a buy rating in a report on Tuesday, July 11th. Needham & Company LLC reissued a buy rating and set a $200.00 target price (up previously from $130.00) on shares of NVIDIA Corporation in a report on Monday, July 10th. Bank of America Corporation reissued a buy rating and set a $185.00 target price on shares of NVIDIA Corporation in a report on Thursday, July 6th. Finally, Susquehanna Bancshares Inc reissued a neutral rating on shares of NVIDIA Corporation in a report on Monday, July 3rd. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of Hold and an average target price of $133.80.
NVIDIA Corporation (NVDA) traded down 0.42% during mid-day trading on Tuesday, hitting $164.25. 23,151,331 shares of the company traded hands. NVIDIA Corporation has a one year low of $51.84 and a one year high of $168.50. The stock has a market capitalization of $97.73 billion, a price-to-earnings ratio of 55.14 and a beta of 1.23. The company’s 50-day moving average is $145.38 and its 200-day moving average is $115.28.
NVIDIA Corporation (NASDAQ:NVDA) last released its earnings results on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.16. NVIDIA Corporation had a net margin of 25.95% and a return on equity of 36.40%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the business earned $0.46 earnings per share. The firm’s revenue was up 48.7% on a year-over-year basis. Analysts predict that NVIDIA Corporation will post $3.09 EPS for the current year.
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In related news, Director Persis Drell sold 2,500 shares of NVIDIA Corporation stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $130.02, for a total transaction of $325,050.00. Following the sale, the director now directly owns 24,652 shares in the company, valued at $3,205,253.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 50,000 shares of NVIDIA Corporation stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $129.48, for a total value of $6,474,000.00. The disclosure for this sale can be found here. Insiders have sold 622,282 shares of company stock worth $93,304,082 over the last 90 days. 5.17% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC boosted its position in shares of NVIDIA Corporation by 17.5% in the first quarter. Quadrant Capital Group LLC now owns 1,055 shares of the computer hardware maker’s stock worth $105,000 after buying an additional 157 shares during the last quarter. Proficio Capital Partners LLC boosted its position in shares of NVIDIA Corporation by 186.1% in the first quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock worth $117,000 after buying an additional 547 shares during the last quarter. Coconut Grove Bank boosted its position in shares of NVIDIA Corporation by 683.9% in the first quarter. Coconut Grove Bank now owns 1,215 shares of the computer hardware maker’s stock worth $132,000 after buying an additional 1,060 shares during the last quarter. TrimTabs Asset Management LLC boosted its position in shares of NVIDIA Corporation by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 1,598 shares of the computer hardware maker’s stock worth $174,000 after buying an additional 752 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of NVIDIA Corporation during the first quarter worth about $182,000. Institutional investors and hedge funds own 68.83% of the company’s stock.
NVIDIA Corporation Company Profile
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, 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.
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