NVIDIA (NASDAQ:NVDA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports. They currently have a $206.00 target price on the computer hardware maker’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 4.82% from the stock’s previous close.

According to Zacks, “NVIDIA has been making concerted efforts to strengthen its position in the several emerging markets. Growth across automotive, gaming plus OEM and IP end-markets is expected to be a key catalyst. Increasing deal wins for autonomous vehicle development and the solid uptake of AI-based smart cockpit infotainment solutions are a tailwind. Moreover, the rising traction of GeForce laptops and RTX GPUs in the market is a positive. Further, the company’s latest acquisition of Mellanox is likely to be its main driver as it will fortify its datacenter footprint and lend a competitive edge. However, the current pause in spending by hyperscale customers persists to be an overhang on its data center business.  Growing competition from AMD also poses a key threat to the company.”

Other equities research analysts have also issued reports about the company. Craig Hallum reissued a “hold” rating and set a $170.00 price objective (up from $165.00) on shares of NVIDIA in a research note on Friday, August 16th. Wells Fargo & Co reissued a “buy” rating on shares of NVIDIA in a research note on Monday, August 12th. BidaskClub raised NVIDIA from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st. Oppenheimer set a $190.00 price objective on NVIDIA and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Daiwa Capital Markets set a $200.00 target price on NVIDIA and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $186.67.

Shares of NVDA traded up $0.16 during trading hours on Wednesday, hitting $196.53. 157,493 shares of the company were exchanged, compared to its average volume of 8,053,501. The company has a market capitalization of $119.59 billion, a PE ratio of 32.47, a PEG ratio of 4.78 and a beta of 2.05. The company has a debt-to-equity ratio of 0.24, a current ratio of 8.65 and a quick ratio of 7.74. The firm has a fifty day simple moving average of $176.80 and a 200-day simple moving average of $168.11. NVIDIA has a one year low of $124.46 and a one year high of $249.88.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, August 15th. The computer hardware maker reported $1.24 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.37. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.55 billion. NVIDIA had a return on equity of 24.40% and a net margin of 26.93%. The company’s revenue was down 17.4% compared to the same quarter last year. During the same period last year, the company posted $1.94 EPS. Sell-side analysts expect that NVIDIA will post 4.07 EPS for the current year.

In other NVIDIA news, CFO Colette Kress sold 31,357 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $179.01, for a total transaction of $5,613,216.57. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Persis Drell sold 165 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $180.45, for a total value of $29,774.25. Following the transaction, the director now owns 18,019 shares in the company, valued at $3,251,528.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,383 shares of company stock valued at $11,625,217. Insiders own 4.64% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pacific Center for Financial Services raised its holdings in NVIDIA by 143.1% during the second quarter. Pacific Center for Financial Services now owns 158 shares of the computer hardware maker’s stock valued at $26,000 after buying an additional 93 shares in the last quarter. LLBH Private Wealth Management LLC bought a new position in shares of NVIDIA in the second quarter worth about $27,000. Field & Main Bank bought a new position in shares of NVIDIA in the second quarter worth about $33,000. Sound Income Strategies LLC increased its stake in shares of NVIDIA by 96.2% in the second quarter. Sound Income Strategies LLC now owns 204 shares of the computer hardware maker’s stock worth $34,000 after purchasing an additional 100 shares during the period. Finally, Ruggie Capital Group bought a new position in shares of NVIDIA in the second quarter worth about $35,000. Institutional investors own 64.40% of the company’s stock.

NVIDIA Company Profile

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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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