NVIDIA (NASDAQ:NVDA) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of NVIDIA (NASDAQ:NVDA) from a sell rating to a hold rating in a research report report published on Wednesday, BidAskClub reports.

NVDA has been the topic of a number of other reports. Stifel Nicolaus decreased their target price on NVIDIA from $150.00 to $145.00 and set a hold rating on the stock in a research report on Tuesday, May 14th. Summit Redstone downgraded NVIDIA to a hold rating in a research report on Friday, May 17th. Piper Jaffray Companies set a $200.00 price objective on NVIDIA and gave the company a buy rating in a research report on Friday, August 16th. Morgan Stanley restated an equal weight rating and issued a $180.00 price objective (up from $170.00) on shares of NVIDIA in a research report on Friday, August 16th. Finally, Needham & Company LLC restated a sell rating on shares of NVIDIA in a research report on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-eight have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $190.40.

NVDA opened at $162.44 on Wednesday. The business’s fifty day moving average is $164.03 and its two-hundred day moving average is $163.88. The company has a debt-to-equity ratio of 0.24, a quick ratio of 7.74 and a current ratio of 8.65. The company has a market cap of $104.43 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 4.40 and a beta of 2.07. NVIDIA has a one year low of $124.46 and a one year high of $292.76.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Thursday, August 15th. The computer hardware maker reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.37. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.55 billion. NVIDIA had a return on equity of 24.40% and a net margin of 26.93%. NVIDIA’s quarterly revenue was down 17.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.94 earnings per share. On average, analysts predict that NVIDIA will post 4.08 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, August 29th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.64 annualized dividend and a yield of 0.39%. NVIDIA’s payout ratio is currently 10.54%.

In related news, Director Harvey C. Jones sold 100,000 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $145.10, for a total value of $14,510,000.00. Following the completion of the transaction, the director now directly owns 32,983 shares in the company, valued at $4,785,833.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Persis Drell sold 2,500 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $167.36, for a total value of $418,400.00. Following the completion of the transaction, the director now owns 18,184 shares of the company’s stock, valued at $3,043,274.24. The disclosure for this sale can be found here. Insiders sold 107,236 shares of company stock valued at $15,712,126 over the last quarter. Insiders own 4.64% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Treasurer of the State of North Carolina increased its stake in NVIDIA by 0.4% during the second quarter. Treasurer of the State of North Carolina now owns 365,321 shares of the computer hardware maker’s stock worth $59,997,000 after acquiring an additional 1,480 shares during the last quarter. Natixis acquired a new stake in NVIDIA during the second quarter worth about $46,561,000. Barings LLC increased its stake in NVIDIA by 192.9% during the second quarter. Barings LLC now owns 11,315 shares of the computer hardware maker’s stock worth $1,858,000 after acquiring an additional 7,452 shares during the last quarter. Hellman Jordan Management Co. Inc. MA increased its stake in NVIDIA by 64.1% during the second quarter. Hellman Jordan Management Co. Inc. MA now owns 5,173 shares of the computer hardware maker’s stock worth $850,000 after acquiring an additional 2,021 shares during the last quarter. Finally, WealthPLAN Partners LLC increased its stake in NVIDIA by 10.8% during the second quarter. WealthPLAN Partners LLC now owns 1,901 shares of the computer hardware maker’s stock worth $297,000 after acquiring an additional 185 shares during the last quarter. Institutional investors own 66.93% of the company’s stock.

About NVIDIA

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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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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