BidaskClub upgraded shares of NVIDIA Corporation (NASDAQ:NVDA) from a buy rating to a strong-buy rating in a research report report published on Monday.
Other equities analysts have also issued research reports about the stock. BMO Capital Markets reaffirmed an underperform rating and set a $85.00 price target on shares of NVIDIA Corporation in a research report on Wednesday, May 10th. Bank of America Corporation reaffirmed a buy rating and set a $185.00 price target on shares of NVIDIA Corporation in a research report on Wednesday, June 21st. Roth Capital reaffirmed a neutral rating on shares of NVIDIA Corporation in a research report on Wednesday, May 10th. Zacks Investment Research raised shares of NVIDIA Corporation from a hold rating to a strong-buy rating and set a $169.00 price target for the company in a research report on Tuesday, July 11th. Finally, Citigroup Inc. reaffirmed a buy rating and set a $145.00 price target on shares of NVIDIA Corporation in a research report on Wednesday, May 10th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty have issued a buy rating and three have given a strong buy rating to the company’s stock. NVIDIA Corporation currently has a consensus rating of Hold and a consensus price target of $134.48.
NVIDIA Corporation (NASDAQ:NVDA) traded down 0.80% during mid-day trading on Monday, reaching $165.93. 5,138,075 shares of the company traded hands. NVIDIA Corporation has a 52-week low of $55.38 and a 52-week high of $169.93. The stock has a 50-day moving average of $155.53 and a 200 day moving average of $122.40. The stock has a market capitalization of $98.73 billion, a PE ratio of 55.70 and a beta of 1.23.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings data on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.16. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.91 billion. NVIDIA Corporation had a net margin of 25.95% and a return on equity of 36.40%. The company’s quarterly revenue was up 48.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 earnings per share. Equities research analysts expect that NVIDIA Corporation will post $3.10 earnings per share for the current year.
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In related news, Director Harvey C. Jones sold 145,520 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $159.31, for a total value of $23,182,791.20. Following the sale, the director now owns 30,762 shares of the company’s stock, valued at approximately $4,900,694.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Harvey C. Jones sold 100,000 shares of the stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $150.29, for a total transaction of $15,029,000.00. Following the completion of the sale, the director now directly owns 30,762 shares in the company, valued at approximately $4,623,220.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 622,282 shares of company stock worth $93,304,082. Corporate insiders own 5.82% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in NVDA. Greenwich Wealth Management LLC boosted its position in NVIDIA Corporation by 0.6% in the first quarter. Greenwich Wealth Management LLC now owns 55,437 shares of the computer hardware maker’s stock valued at $6,039,000 after buying an additional 357 shares during the last quarter. Columbus Circle Investors bought a new position in NVIDIA Corporation during the first quarter valued at approximately $8,530,000. Ameriprise Financial Inc. boosted its position in NVIDIA Corporation by 46.6% in the first quarter. Ameriprise Financial Inc. now owns 5,257,325 shares of the computer hardware maker’s stock valued at $572,695,000 after buying an additional 1,672,231 shares during the last quarter. Menora Mivtachim Holdings LTD. bought a new position in NVIDIA Corporation during the first quarter valued at approximately $17,244,000. Finally, Metropolitan Life Insurance Co. NY boosted its position in NVIDIA Corporation by 6.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 308,211 shares of the computer hardware maker’s stock valued at $33,573,000 after buying an additional 19,245 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.
About NVIDIA Corporation
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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