Vetr Inc. Downgrades NVIDIA Corporation (NVDA) to Hold
NVIDIA Corporation (NASDAQ:NVDA) was downgraded by Vetr from a “buy” rating to a “hold” rating in a research report issued on Wednesday. They presently have a $177.02 price objective on the computer hardware maker’s stock. Vetr‘s target price suggests a potential upside of 2.85% from the company’s current price.
A number of other research analysts have also weighed in on NVDA. B. Riley restated a “buy” rating and issued a $135.00 price objective on shares of NVIDIA Corporation in a report on Monday, May 8th. UBS AG restated a “buy” rating and issued a $132.00 price objective on shares of NVIDIA Corporation in a report on Wednesday, May 10th. BidaskClub upgraded NVIDIA Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $165.00 target price (up from $130.00) on shares of NVIDIA Corporation in a research note on Monday, May 15th. Finally, Bank of America Corporation reaffirmed a “buy” rating on shares of NVIDIA Corporation in a research note on Monday. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $136.32.
Shares of NVIDIA Corporation (NASDAQ:NVDA) traded up 1.06% during midday trading on Wednesday, reaching $172.11. 13,269,623 shares of the company traded hands. NVIDIA Corporation has a 1-year low of $57.31 and a 1-year high of $172.21. The firm has a market capitalization of $102.41 billion, a PE ratio of 57.77 and a beta of 1.24. The stock has a 50 day moving average price of $156.80 and a 200 day moving average price of $124.22.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings data on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.16. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.91 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 48.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 EPS. Analysts expect that NVIDIA Corporation will post $3.10 earnings per share for the current fiscal year.
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In related news, Director Persis Drell sold 2,500 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 24,652 shares in the company, valued at $3,205,253.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tench Coxe sold 50,000 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $164.53, for a total value of $8,226,500.00. The disclosure for this sale can be found here. Insiders sold 622,282 shares of company stock valued at $93,304,082 over the last quarter. Insiders own 5.17% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Telemus Capital LLC purchased a new stake in shares of NVIDIA Corporation during the first quarter valued at approximately $654,000. Harvey Capital Management Inc. purchased a new stake in shares of NVIDIA Corporation during the first quarter valued at approximately $217,000. Portland Global Advisors LLC raised its stake in shares of NVIDIA Corporation by 12.8% in the first quarter. Portland Global Advisors LLC now owns 2,650 shares of the computer hardware maker’s stock valued at $289,000 after buying an additional 300 shares in the last quarter. Kissinger Financial Services LLC raised its stake in shares of NVIDIA Corporation by 6.4% in the first quarter. Kissinger Financial Services LLC now owns 9,788 shares of the computer hardware maker’s stock valued at $1,066,000 after buying an additional 589 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of NVIDIA Corporation by 6.8% in the first quarter. Louisiana State Employees Retirement System now owns 36,200 shares of the computer hardware maker’s stock valued at $3,943,000 after buying an additional 2,300 shares in 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.
To view Vetr’s full report, visit Vetr’s official website.
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