NVIDIA (NASDAQ:NVDA) was upgraded by research analysts at Cascend Securities from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Briefing.com Automated Import reports. The brokerage presently has a $190.00 price objective on the computer hardware maker’s stock. Cascend Securities’ price objective suggests a potential upside of 13.70% from the company’s previous close.
Other equities analysts also recently issued reports about the company. UBS Group set a $25.00 price target on Macy’s and gave the stock a “hold” rating in a research note on Friday, May 17th. Barclays reaffirmed a “hold” rating and issued a $23.00 target price on shares of Cypress Semiconductor in a report on Thursday, June 6th. Morgan Stanley set a $20.00 target price on C&J Energy Services and gave the stock a “hold” rating in a report on Monday, May 13th. Royal Bank of Canada raised their target price on NVIDIA to $200.00 and gave the stock an “outperform” rating in a report on Monday, May 13th. Finally, Summit Redstone cut NVIDIA to a “hold” rating in a report on Friday, May 17th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $194.34.
Shares of NVDA stock traded up $7.04 on Thursday, reaching $167.10. The stock had a trading volume of 10,557,086 shares, compared to its average volume of 13,764,986. The firm has a market cap of $97.58 billion, a PE ratio of 27.53, a P/E/G ratio of 4.05 and a beta of 2.09. NVIDIA has a 1 year low of $124.46 and a 1 year high of $292.76. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.78 and a current ratio of 8.98. The stock’s 50 day simple moving average is $150.59.
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 the consensus estimate of $2.20 billion. NVIDIA had a return on equity of 31.27% and a net margin of 30.68%. The company’s revenue for the quarter was down 30.8% on a year-over-year basis. During the same period last year, the business posted $2.05 EPS. As a group, sell-side analysts predict that NVIDIA will post 4.22 EPS for the current year.
In other news, Director Harvey C. Jones sold 100,000 shares of NVIDIA stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $145.10, for a total value of $14,510,000.00. Following the sale, the director now directly owns 32,983 shares of the company’s stock, valued at $4,785,833.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 2,236 shares of NVIDIA stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $164.01, for a total value of $366,726.36. Following the completion of the sale, the chief financial officer now directly owns 239,710 shares in the company, valued at $39,314,837.10. The disclosure for this sale can be found here. Insiders own 4.64% of the company’s stock.
Several hedge funds have recently modified their holdings of NVDA. Norges Bank bought a new stake in shares of NVIDIA in the fourth quarter worth about $737,230,000. SG Americas Securities LLC increased its holdings in shares of NVIDIA by 104.7% in the first quarter. SG Americas Securities LLC now owns 128,201 shares of the computer hardware maker’s stock worth $23,020,000 after purchasing an additional 2,866,055 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of NVIDIA in the first quarter worth about $191,981,000. Baillie Gifford & Co. increased its holdings in shares of NVIDIA by 16.0% in the first quarter. Baillie Gifford & Co. now owns 7,647,342 shares of the computer hardware maker’s stock worth $1,373,156,000 after purchasing an additional 1,052,689 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of NVIDIA by 1.8% in the first quarter. FMR LLC now owns 49,860,097 shares of the computer hardware maker’s stock worth $8,952,880,000 after purchasing an additional 858,116 shares during the last quarter. 67.51% of the stock is currently owned by hedge funds and other institutional investors.
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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