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 report issued on Thursday. They presently have a $171.46 price objective on the computer hardware maker’s stock. Vetr‘s target price would indicate a potential upside of 4.67% from the stock’s current price.
Other equities analysts also recently issued research reports about the company. UBS AG reissued a “buy” rating and set a $132.00 price target on shares of NVIDIA Corporation in a research report on Wednesday, May 10th. B. Riley reissued a “buy” rating and set a $135.00 price target on shares of NVIDIA Corporation in a research report on Monday, May 8th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $165.00 price target (up previously from $130.00) on shares of NVIDIA Corporation in a research report on Monday, May 15th. Susquehanna Bancshares Inc reissued a “neutral” rating on shares of NVIDIA Corporation in a research report on Monday, July 3rd. Finally, Barclays PLC restated an “equal weight” rating and set a $105.00 price objective (up previously from $90.00) on shares of NVIDIA Corporation in a report on Wednesday, May 10th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $144.95.
NVIDIA Corporation (NASDAQ NVDA) opened at 163.81 on Thursday. The firm has a 50 day moving average price of $163.91 and a 200-day moving average price of $131.12. The firm has a market capitalization of $97.79 billion, a price-to-earnings ratio of 47.11 and a beta of 1.24. NVIDIA Corporation has a 12 month low of $57.32 and a 12 month high of $174.56.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.32. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $1.96 billion. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The business’s revenue was up 56.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 earnings per share. On average, equities analysts forecast that NVIDIA Corporation will post $3.60 EPS for the current year.
In other NVIDIA Corporation news, EVP Debora Shoquist sold 63,717 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $144.81, for a total transaction of $9,226,858.77. Following the completion of the sale, the executive vice president now directly owns 330,040 shares in the company, valued at approximately $47,793,092.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert K. Burgess sold 50,000 shares of the stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $158.08, for a total value of $7,904,000.00. Following the sale, the director now owns 14,350 shares of the company’s stock, valued at $2,268,448. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 475,518 shares of company stock valued at $73,752,579. Company insiders own 5.82% of the company’s stock.
A number of hedge funds have recently modified their holdings of NVDA. Evercore Wealth Management LLC increased its stake in shares of NVIDIA Corporation by 36.9% in the second quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock worth $110,000 after buying an additional 206 shares during the last quarter. TB Alternative Assets Ltd. acquired a new stake in shares of NVIDIA Corporation during the second quarter worth $116,000. Proficio Capital Partners LLC increased its stake in shares of NVIDIA Corporation by 186.1% in the first quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock worth $117,000 after buying an additional 547 shares during the last quarter. Thompson Davis & CO. Inc. boosted its position 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 worth $119,000 after buying an additional 6 shares during the period. Finally, Hanson McClain Inc. boosted its position in NVIDIA Corporation by 12.7% in the second quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker’s stock worth $127,000 after buying an additional 99 shares during the period. Hedge funds and other institutional investors own 68.55% 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.
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