NVIDIA Corporation (NASDAQ:NVDA) Rating Reiterated by Bank of America Corporation
NVIDIA Corporation (NASDAQ:NVDA)‘s stock had its “buy” rating reissued by equities research analysts at Bank of America Corporation in a research note issued to investors on Monday.
Several other equities analysts have also recently weighed in on NVDA. UBS AG reiterated a “buy” rating and issued a $132.00 price target on shares of NVIDIA Corporation in a research report on Monday, April 10th. B. Riley restated a “buy” rating and set a $135.00 target price on shares of NVIDIA Corporation in a research report on Monday, May 8th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $165.00 target price (up from $130.00) on shares of NVIDIA Corporation in a research report on Monday, May 15th. MKM Partners restated a “neutral” rating and set a $106.00 target price (up from $100.00) on shares of NVIDIA Corporation in a research report on Wednesday, May 10th. Finally, BidaskClub upgraded NVIDIA Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty have given a buy rating and three have assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $136.24.
NVIDIA Corporation (NASDAQ:NVDA) opened at 170.30 on Monday. NVIDIA Corporation has a one year low of $57.32 and a one year high of $174.56. The firm has a market capitalization of $101.33 billion, a price-to-earnings ratio of 57.17 and a beta of 1.24. The firm has a 50-day moving average price of $158.02 and a 200-day moving average price of $125.12.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.16. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.91 billion. NVIDIA Corporation had a return on equity of 36.40% and a net margin of 25.95%. The firm’s quarterly revenue was up 48.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 earnings per share. Analysts expect that NVIDIA Corporation will post $3.10 EPS for the current year.
In related news, Director Tench Coxe sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $129.48, for a total value of $6,474,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Persis Drell sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $130.02, for a total value of $325,050.00. Following the completion of the sale, the director now owns 24,652 shares in the company, valued at approximately $3,205,253.04. The disclosure for this sale can be found here. Insiders sold a total of 622,282 shares of company stock worth $93,304,082 in the last 90 days. 5.17% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. RB Capital Management LLC acquired a new position in NVIDIA Corporation during the second quarter valued at about $272,000. 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 period. Columbus Circle Investors acquired a new position in NVIDIA Corporation during the first quarter valued at about $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 period. Finally, Menora Mivtachim Holdings LTD. acquired a new position in NVIDIA Corporation during the first quarter valued at about $17,244,000. Institutional investors own 68.91% of the company’s stock.
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.
Receive News & Ratings for NVIDIA Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA Corporation and related companies with MarketBeat.com's FREE daily email newsletter.