Rosenblatt Securities Reaffirms “Buy” Rating for NVIDIA Corporation (NASDAQ:NVDA)

NVIDIA Corporation (NASDAQ:NVDA)‘s stock had its “buy” rating restated by analysts at Rosenblatt Securities in a report issued on Thursday. They currently have a $152.00 price target on the computer hardware maker’s stock. Rosenblatt Securities’ price objective would indicate a potential downside of 2.53% from the company’s current price.

NVDA has been the topic of a number of other reports. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $171.00 target price (up from $165.00) on shares of NVIDIA Corporation in a research report on Wednesday, June 14th. Zacks Investment Research cut shares of NVIDIA Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, April 13th. CLSA reissued an “underperform” rating and set a $115.00 target price on shares of NVIDIA Corporation in a research report on Wednesday, May 10th. Pacific Crest reissued an “underweight” rating and set a $90.00 target price on shares of NVIDIA Corporation in a research report on Monday, May 8th. Finally, Vetr cut shares of NVIDIA Corporation from a “strong-buy” rating to a “buy” rating and set a $174.02 target price on the stock. in a research report on Tuesday, July 11th. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $143.96.

Shares of NVIDIA Corporation (NASDAQ:NVDA) opened at 155.96 on Thursday. The stock 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 firm has a 50 day moving average of $159.49 and a 200-day moving average of $127.38. NVIDIA Corporation also was the target of unusually large options trading activity on Thursday. Traders bought 84,606 put options on the company. This is an increase of 147% compared to the typical daily volume of 34,198 put options.

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

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In other NVIDIA Corporation news, Director Persis Drell sold 2,500 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $130.02, for a total transaction of $325,050.00. Following the sale, the director now owns 24,652 shares in the company, valued at approximately $3,205,253.04. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Harvey C. Jones sold 145,520 shares of the business’s stock in a transaction dated 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 owns 30,762 shares in the company, valued at approximately $4,900,694.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 572,282 shares of company stock worth $86,830,082. Corporate insiders own 5.82% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the company. Evercore Wealth Management LLC increased 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 during the last quarter. TB Alternative Assets Ltd. bought a new stake in NVIDIA Corporation during the second quarter valued at about $116,000. Thompson Davis & CO. Inc. increased its stake in NVIDIA Corporation by 0.7% in the second quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock valued at $119,000 after buying an additional 6 shares during the last quarter. Proficio Capital Partners LLC increased its stake in NVIDIA Corporation by 186.1% in the first quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock valued at $117,000 after buying an additional 547 shares during the last quarter. Finally, Hanson McClain Inc. increased its stake in NVIDIA Corporation by 12.7% in the second quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker’s stock valued at $127,000 after buying an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 68.91% of the company’s stock.

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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