Zacks Investment Research Downgrades NVIDIA (NVDA) to Hold
Zacks Investment Research cut shares of NVIDIA (NASDAQ:NVDA) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning.
According to Zacks, “A look at the world’s leading graphics chipmaker, NVIDIA’s last one year price performance shows that the company has outperformed the industry to which it belongs to, thanks to the company’s positive record of earnings surprises in the recent quarters. NVIDIA’s sustained efforts toward attaining robust position in several emerging industries such as Artificial Intelligence (AI), deep learning and driverless cars industry, makes us optimistic about its growth prospect. NVIDIA’s innovative product pipeline and strength in gaming and high-end notebook GPUs remain the positives. The company’s focus on GRID platforms can increase GPU adoption in data centers, giving it an advantage against its competitors. Nonetheless, the continuous decline in PC sales remains a concern.”
A number of other analysts have also recently commented on NVDA. Vetr cut shares of NVIDIA from a buy rating to a hold rating and set a $179.35 target price on the stock. in a report on Monday, September 18th. Royal Bank of Canada reaffirmed a buy rating and issued a $205.00 price target (up previously from $175.00) on shares of NVIDIA in a research report on Monday, September 18th. B. Riley reaffirmed a buy rating and issued a $200.00 price target on shares of NVIDIA in a research report on Thursday, September 21st. Sanford C. Bernstein reaffirmed an outperform rating on shares of NVIDIA in a research report on Saturday, September 23rd. Finally, Craig Hallum reaffirmed a buy rating and issued a $200.00 price target on shares of NVIDIA in a research report on Saturday, September 23rd. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $192.45.
Shares of NVIDIA (NASDAQ:NVDA) traded up $4.61 during mid-day trading on Monday, hitting $224.72. 13,457,000 shares of the stock were exchanged, compared to its average volume of 14,548,073. NVIDIA has a 1 year low of $95.17 and a 1 year high of $227.51. The company has a market cap of $136,220.00, a PE ratio of 56.18, a PEG ratio of 5.13 and a beta of 1.18. The company has a current ratio of 8.26, a quick ratio of 7.42 and a debt-to-equity ratio of 0.31.
NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.39. NVIDIA had a net margin of 28.78% and a return on equity of 42.71%. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the business posted $0.94 EPS. The company’s quarterly revenue was up 31.5% on a year-over-year basis. equities research analysts expect that NVIDIA will post 4.19 earnings per share for the current year.
In other NVIDIA news, CFO Colette Kress sold 171 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $185.57, for a total transaction of $31,732.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director A Brooke Seawell sold 1,029 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $214.10, for a total value of $220,308.90. Following the sale, the director now owns 1,029 shares of the company’s stock, valued at $220,308.90. The disclosure for this sale can be found here. In the last three months, insiders sold 19,858 shares of company stock valued at $4,227,384. 5.82% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Welch Investments LLC bought a new stake in shares of NVIDIA during the 3rd quarter valued at about $104,000. Evercore Wealth Management LLC grew its stake in shares of NVIDIA by 36.9% during the 2nd quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock valued at $110,000 after purchasing an additional 206 shares during the period. Country Trust Bank grew its stake in shares of NVIDIA by 490.0% during the 4th quarter. Country Trust Bank now owns 590 shares of the computer hardware maker’s stock valued at $114,000 after purchasing an additional 490 shares during the period. North Star Investment Management Corp. grew its stake in shares of NVIDIA by 67.3% during the 4th quarter. North Star Investment Management Corp. now owns 634 shares of the computer hardware maker’s stock valued at $123,000 after acquiring an additional 255 shares during the period. Finally, Edge Advisors LLC grew its stake in shares of NVIDIA by 98.8% during the 3rd quarter. Edge Advisors LLC now owns 835 shares of the computer hardware maker’s stock valued at $149,000 after acquiring an additional 415 shares during the period. Institutional investors and hedge funds own 63.40% of the company’s stock.
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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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