Vetr Inc. Downgrades Nvidia Corp. (NVDA) to Hold
Nvidia Corp. (NASDAQ:NVDA) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Monday. They presently have a $65.46 target price on the computer hardware maker’s stock. Vetr‘s price objective would indicate a potential downside of 1.71% from the stock’s current price.
NVDA has been the topic of a number of other reports. B. Riley reiterated a “buy” rating and issued a $58.00 price target on shares of Nvidia Corp. in a research report on Wednesday, June 22nd. Zacks Investment Research upgraded shares of Nvidia Corp. from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Tuesday, June 28th. KeyCorp reiterated a “hold” rating on shares of Nvidia Corp. in a research report on Wednesday, July 6th. BMO Capital Markets reiterated a “hold” rating on shares of Nvidia Corp. in a research report on Sunday, July 10th. Finally, Mizuho assumed coverage on shares of Nvidia Corp. in a research report on Thursday, July 14th. They issued a “buy” rating and a $60.00 price target on the stock. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nineteen have issued a buy rating to the stock. Nvidia Corp. has a consensus rating of “Hold” and a consensus price target of $58.45.
Shares of Nvidia Corp. (NASDAQ:NVDA) opened at 66.61 on Monday. Nvidia Corp. has a 12-month low of $24.75 and a 12-month high of $69.70. The company has a 50 day moving average of $64.58 and a 200-day moving average of $51.70. The company has a market capitalization of $35.64 billion, a P/E ratio of 43.76 and a beta of 1.25.
Nvidia Corp. (NASDAQ:NVDA) last released its earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. Nvidia Corp. had a net margin of 16.58% and a return on equity of 20.86%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the company posted $0.34 EPS. The company’s revenue was up 23.9% compared to the same quarter last year. On average, equities analysts anticipate that Nvidia Corp. will post $1.85 EPS for the current fiscal year.
In related news, Director Tench Coxe sold 85,551 shares of the business’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $68.75, for a total value of $5,881,631.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Persis Drell sold 2,361 shares of the business’s stock in a transaction dated Wednesday, October 12th. The shares were sold at an average price of $66.58, for a total value of $157,195.38. Following the completion of the transaction, the director now directly owns 27,152 shares of the company’s stock, valued at approximately $1,807,780.16. The disclosure for this sale can be found here. 5.82% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of NVDA. Anderson Hoagland & Co. bought a new position in Nvidia Corp. during the third quarter worth approximately $1,175,000. Cim LLC boosted its position in Nvidia Corp. by 31.6% in the third quarter. Cim LLC now owns 6,490 shares of the computer hardware maker’s stock worth $445,000 after buying an additional 1,560 shares in the last quarter. Koshinski Asset Management Inc. boosted its position in Nvidia Corp. by 2.4% in the third quarter. Koshinski Asset Management Inc. now owns 5,234 shares of the computer hardware maker’s stock worth $359,000 after buying an additional 122 shares in the last quarter. National Pension Service boosted its position in Nvidia Corp. by 8.5% in the third quarter. National Pension Service now owns 429,424 shares of the computer hardware maker’s stock worth $29,424,000 after buying an additional 33,815 shares in the last quarter. Finally, Highland Capital Management LLC acquired a new position in Nvidia Corp. during the third quarter worth about $2,928,000. 86.29% of the stock is owned by institutional investors and hedge funds.
Nvidia Corp. Company Profile
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.
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