NVIDIA Corporation (NASDAQ:NVDA) Given “Underperform” Rating at BMO Capital Markets

NVIDIA Corporation (NASDAQ:NVDA)‘s stock had its “underperform” rating restated by analysts at BMO Capital Markets in a note issued to investors on Thursday. They currently have a $85.00 target price on the computer hardware maker’s stock. BMO Capital Markets’ price objective would indicate a potential downside of 45.50% from the stock’s current price.

Other equities analysts have also issued research reports about the company. B. Riley reissued a “buy” rating and set a $135.00 price objective on shares of NVIDIA Corporation in a research note on Monday, May 8th. Vetr lowered NVIDIA Corporation from a “strong-buy” rating to a “buy” rating and set a $111.03 price objective on the stock. in a research note on Tuesday, April 18th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $130.00 price objective on shares of NVIDIA Corporation in a research note on Friday, April 14th. Royal Bank Of Canada reissued a “buy” rating and set a $130.00 price objective on shares of NVIDIA Corporation in a research note on Tuesday, May 2nd. Finally, Citigroup Inc. reissued a “buy” rating and set a $145.00 price objective on shares of NVIDIA Corporation in a research note on Wednesday, May 10th. Six equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty have given a buy rating and three have assigned a strong buy rating to the company. NVIDIA Corporation presently has an average rating of “Buy” and an average price target of $143.96.

Shares of NVIDIA Corporation (NASDAQ NVDA) opened at 155.96 on Thursday. The company has a market capitalization of $92.80 billion, a P/E ratio of 52.35 and a beta of 1.24. NVIDIA Corporation has a 12 month low of $57.32 and a 12 month high of $174.56. The company has a 50-day moving average price of $159.49 and a 200-day moving average price of $127.38. NVIDIA Corporation also saw unusually large options trading on Thursday. Stock traders acquired 84,606 put options on the company. This is an increase of approximately 147% compared to the average volume of 34,198 put options.

NVIDIA Corporation (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.32. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $1.96 billion. NVIDIA Corporation had a return on equity of 36.40% and a net margin of 25.95%. The firm’s revenue for the quarter was up 56.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. On average, analysts forecast that NVIDIA Corporation will post $3.10 EPS for the current fiscal year.

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In other NVIDIA Corporation news, insider Michael Byron sold 25,507 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $137.09, for a total transaction of $3,496,754.63. Following the completion of the sale, the insider now directly owns 162,706 shares of the company’s stock, valued at approximately $22,305,365.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harvey C. Jones sold 145,520 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $159.31, for a total value of $23,182,791.20. Following the sale, the director now directly owns 30,762 shares of the company’s stock, valued at $4,900,694.22. The disclosure for this sale can be found here. Insiders have sold a total of 572,282 shares of company stock valued at $86,830,082 over the last ninety days. 5.82% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of NVDA. Jackson Square Partners LLC bought a new stake in NVIDIA Corporation during the second quarter worth $229,323,000. Winslow Capital Management LLC boosted its stake in NVIDIA Corporation by 10.6% in the second quarter. Winslow Capital Management LLC now owns 1,281,290 shares of the computer hardware maker’s stock valued at $185,223,000 after buying an additional 122,458 shares in the last quarter. Veritable L.P. boosted its stake in NVIDIA Corporation by 5.6% in the second quarter. Veritable L.P. now owns 20,627 shares of the computer hardware maker’s stock valued at $2,982,000 after buying an additional 1,089 shares in the last quarter. Evercore Wealth Management LLC boosted its stake in NVIDIA Corporation by 36.9% in the second quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock valued at $110,000 after buying an additional 206 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in NVIDIA Corporation by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,052,628 shares of the computer hardware maker’s stock valued at $585,894,000 after buying an additional 46,686 shares in the last quarter. 68.91% of the stock is owned by institutional investors.

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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