NVIDIA (NVDA) Downgraded to “Buy” at BidaskClub

BidaskClub downgraded shares of NVIDIA (NASDAQ:NVDA) from a strong-buy rating to a buy rating in a report published on Tuesday morning.

A number of other equities analysts have also recently weighed in on NVDA. Vetr raised shares of NVIDIA from a buy rating to a strong-buy rating and set a $270.50 price objective for the company in a research report on Thursday, March 1st. Royal Bank of Canada reaffirmed an outperform rating and set a $285.00 price objective (up previously from $280.00) on shares of NVIDIA in a research report on Wednesday, March 14th. Argus increased their price objective on shares of NVIDIA from $250.00 to $280.00 and gave the stock a buy rating in a research report on Thursday, March 22nd. They noted that the move was a valuation call. ValuEngine raised shares of NVIDIA from a hold rating to a buy rating in a research report on Monday, April 2nd. Finally, UBS Group started coverage on shares of NVIDIA in a research report on Wednesday, April 4th. They set a neutral rating and a $250.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirty have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $264.62.

Shares of NVIDIA opened at $243.61 on Tuesday, according to Marketbeat.com. The company has a market cap of $143.08 billion, a PE ratio of 52.16, a PEG ratio of 3.25 and a beta of 1.54. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.54 and a quick ratio of 7.82. NVIDIA has a 1 year low of $138.58 and a 1 year high of $269.20.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, May 10th. The computer hardware maker reported $2.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.58. The firm had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $2.88 billion. NVIDIA had a net margin of 34.44% and a return on equity of 52.18%. The firm’s quarterly revenue was up 65.6% on a year-over-year basis. During the same quarter last year, the company posted $0.85 EPS. sell-side analysts expect that NVIDIA will post 7.08 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Thursday, May 24th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, May 23rd. This represents a $0.60 annualized dividend and a yield of 0.25%. NVIDIA’s dividend payout ratio is currently 12.85%.

In related news, Director A Brooke Seawell sold 21,029 shares of NVIDIA stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $264.65, for a total transaction of $5,565,324.85. Following the sale, the director now directly owns 21,992 shares in the company, valued at approximately $5,820,182.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harvey C. Jones sold 100,000 shares of NVIDIA stock in a transaction on Tuesday, June 26th. The stock was sold at an average price of $242.11, for a total transaction of $24,211,000.00. Following the sale, the director now owns 31,725 shares in the company, valued at $7,680,939.75. The disclosure for this sale can be found here. Insiders have sold a total of 308,308 shares of company stock worth $77,491,336 over the last quarter. 4.70% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. SB Investment Advisers UK Ltd. acquired a new position in NVIDIA in the fourth quarter valued at $5,200,218,000. Prudential Financial Inc. increased its stake in NVIDIA by 97.4% in the first quarter. Prudential Financial Inc. now owns 1,711,921 shares of the computer hardware maker’s stock valued at $396,464,000 after purchasing an additional 844,514 shares during the period. Summit Trail Advisors LLC increased its stake in NVIDIA by 24,174.1% in the first quarter. Summit Trail Advisors LLC now owns 756,866 shares of the computer hardware maker’s stock valued at $757,000 after purchasing an additional 753,748 shares during the period. Geode Capital Management LLC increased its stake in NVIDIA by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 7,194,300 shares of the computer hardware maker’s stock valued at $1,389,500,000 after purchasing an additional 512,166 shares during the period. Finally, BlackRock Inc. increased its stake in NVIDIA by 1.2% in the first quarter. BlackRock Inc. now owns 38,108,394 shares of the computer hardware maker’s stock valued at $8,825,523,000 after purchasing an additional 461,007 shares during the period. Hedge funds and other institutional investors own 65.03% of the company’s stock.

NVIDIA Company Profile

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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