NVIDIA (NVDA) Coverage Resumes at Auriga with Buy Rating

NVIDIA (NVDA) securities coverage is now resumed by the research analysts at Auriga with a “buy” rating.  Auriga begins this coverage reinstatement of NVDA with an adjusted price target from a former $19 price target to $24 dollars.  NVDA is up during intraday trading this morning.

NVIDIA is scheduled to attend a series of conferences.  First, they are scheduled to attend the Bank of America Merrill Lynch Technology Conference tomorrow on June 1st, 2011, followed by an appearance at the Cowen & Co. Technology, Media & Telecom Conference the following day on June 2nd, 2011.

NVIDIA is slated to release their next earnings report on August 11th, 2011 and is estimated to post EPS of 25 cents.  Their last earnings report was released on May 12th, 2011 and announced EPS of 27 cents with revenue totaling $962 million.  NVDA is currently trading above its 50 & 200-day moving averages and 2011 is currently an up year for the company.

NVIDIA Corporation invented the graphics processing unit, or GPU (“Graphics Processing Unit,”) in 1999. The company has market capitalization of $11,120,000,000 and 581,000,000 shares outstanding.  NVDA has a 52-week high of $26.17 with the low being $8.65 dollars.

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