BidaskClub Lowers NVIDIA (NASDAQ:NVDA) to Hold

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BidaskClub downgraded shares of NVIDIA (NASDAQ:NVDA) from a buy rating to a hold rating in a report issued on Saturday morning, BidAskClub reports.

A number of other equities research analysts also recently commented on NVDA. Zacks Investment Research downgraded shares of NVIDIA from a buy rating to a hold rating in a research report on Thursday, May 16th. Morgan Stanley raised their price objective on shares of NVIDIA from $148.00 to $170.00 and gave the company an equal weight rating in a research report on Monday, May 13th. Summit Insights downgraded shares of NVIDIA from a buy rating to a hold rating and set a $158.57 price objective for the company. in a research report on Friday, May 17th. UBS Group reduced their price objective on shares of NVIDIA from $210.00 to $195.00 and set a buy rating for the company in a research report on Friday, May 17th. Finally, Sanford C. Bernstein set a $150.00 price objective on shares of NVIDIA and gave the company a hold rating in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $194.34.

NASDAQ NVDA opened at $150.79 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.78 and a current ratio of 8.98. NVIDIA has a 52-week low of $124.46 and a 52-week high of $292.76. The business’s 50-day moving average is $163.66. The stock has a market capitalization of $98.16 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 4.13 and a beta of 2.07.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, May 16th. The computer hardware maker reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.07. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. NVIDIA had a return on equity of 31.27% and a net margin of 30.68%. The business’s revenue was down 30.8% on a year-over-year basis. During the same quarter last year, the company posted $2.05 earnings per share. On average, equities analysts forecast that NVIDIA will post 4.16 EPS for the current year.

In other news, Director Harvey C. Jones sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $145.10, for a total transaction of $14,510,000.00. Following the completion of the transaction, the director now directly owns 32,983 shares of the company’s stock, valued at approximately $4,785,833.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 2,236 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $164.01, for a total transaction of $366,726.36. Following the transaction, the chief financial officer now directly owns 239,710 shares of the company’s stock, valued at $39,314,837.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,736 shares of company stock valued at $15,293,726. Corporate insiders own 4.64% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Comerica Securities Inc. grew its position in shares of NVIDIA by 95.7% during the fourth quarter. Comerica Securities Inc. now owns 2,853 shares of the computer hardware maker’s stock worth $381,000 after purchasing an additional 1,395 shares in the last quarter. Geode Capital Management LLC grew its holdings in NVIDIA by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 8,129,007 shares of the computer hardware maker’s stock valued at $1,083,400,000 after buying an additional 266,779 shares in the last quarter. Altfest L J & Co. Inc. grew its holdings in NVIDIA by 1,236.1% during the 1st quarter. Altfest L J & Co. Inc. now owns 43,544 shares of the computer hardware maker’s stock valued at $453,000 after buying an additional 40,285 shares in the last quarter. Global Trust Asset Management LLC purchased a new position in NVIDIA during the 1st quarter valued at approximately $269,000. Finally, Old Port Advisors grew its holdings in NVIDIA by 26.6% during the 1st quarter. Old Port Advisors now owns 2,315 shares of the computer hardware maker’s stock valued at $416,000 after buying an additional 487 shares in the last quarter. 67.47% of the stock is owned by institutional investors and hedge funds.

About NVIDIA

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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