ValuEngine Downgrades NVIDIA (NVDA) to Hold
NVIDIA (NASDAQ:NVDA) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
Several other brokerages have also commented on NVDA. Mizuho restated a “buy” rating and issued a $180.00 price objective (up from $170.00) on shares of NVIDIA in a report on Friday, August 11th. Susquehanna Bancshares restated a “neutral” rating and issued a $140.00 price objective on shares of NVIDIA in a report on Wednesday, August 16th. Oppenheimer restated a “hold” rating on shares of NVIDIA in a report on Sunday, November 5th. Vetr lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $172.54 price objective for the company. in a report on Thursday, August 31st. Finally, Canaccord Genuity restated a “buy” rating and issued a $190.00 price objective (up from $180.00) on shares of NVIDIA in a report on Thursday, August 10th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. NVIDIA currently has an average rating of “Buy” and a consensus target price of $187.38.
Shares of NVIDIA (NASDAQ NVDA) opened at $197.68 on Friday. NVIDIA has a 1-year low of $85.12 and a 1-year high of $218.67. The company has a current ratio of 8.26, a quick ratio of 7.42 and a debt-to-equity ratio of 0.31. The company has a market cap of $119,790.00, a price-to-earnings ratio of 51.90, a P/E/G ratio of 4.56 and a beta of 1.23.
In related news, Director A Brooke Seawell sold 1,029 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $214.10, for a total transaction of $220,308.90. Following the sale, the director now directly owns 1,029 shares of the company’s stock, valued at approximately $220,308.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jen Hsun Huang sold 110,000 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $166.08, for a total transaction of $18,268,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 425,175 shares of company stock worth $77,696,879 over the last three months. 5.17% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its holdings in shares of NVIDIA by 5,424.4% during the 2nd quarter. Janus Henderson Group PLC now owns 4,096,888 shares of the computer hardware maker’s stock valued at $592,244,000 after acquiring an additional 4,022,728 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of NVIDIA by 7.1% during the 2nd quarter. Vanguard Group Inc. now owns 40,257,187 shares of the computer hardware maker’s stock valued at $5,819,579,000 after acquiring an additional 2,676,976 shares during the last quarter. Jackson Square Partners LLC purchased a new stake in shares of NVIDIA during the 2nd quarter valued at about $229,323,000. Renaissance Technologies LLC boosted its holdings in shares of NVIDIA by 19.3% during the 2nd quarter. Renaissance Technologies LLC now owns 4,758,793 shares of the computer hardware maker’s stock valued at $687,931,000 after acquiring an additional 768,200 shares during the last quarter. Finally, Quantitative Investment Management LLC boosted its holdings in shares of NVIDIA by 3,194.2% during the 2nd quarter. Quantitative Investment Management LLC now owns 678,600 shares of the computer hardware maker’s stock valued at $98,098,000 after acquiring an additional 658,000 shares during the last quarter. 64.14% of the stock is currently owned by institutional investors.
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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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