NVIDIA Co. (NASDAQ:NVDA) Given Average Rating of “Buy” by Brokerages

Shares of NVIDIA Co. (NASDAQ:NVDA) have been given an average rating of “Buy” by the forty-four research firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation, twenty-seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $191.44.

Several research analysts recently weighed in on NVDA shares. Royal Bank of Canada upped their target price on shares of NVIDIA from $217.00 to $251.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Susquehanna Bancshares set a $190.00 price objective on shares of NVIDIA and gave the company a “buy” rating in a report on Friday, August 16th. Deutsche Bank increased their price objective on shares of NVIDIA from $160.00 to $190.00 and gave the company a “hold” rating in a report on Monday. Morgan Stanley reissued an “equal weight” rating and set a $180.00 price objective (up previously from $170.00) on shares of NVIDIA in a report on Friday, August 16th. Finally, Cascend Securities increased their price objective on shares of NVIDIA from $190.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, October 15th.

Shares of NASDAQ:NVDA traded up $0.79 during midday trading on Monday, hitting $208.57. The company had a trading volume of 284,823 shares, compared to its average volume of 11,881,960. 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 company has a market cap of $127.65 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 5.39 and a beta of 2.06. NVIDIA has a 12-month low of $124.46 and a 12-month high of $211.70. The company has a fifty day moving average of $189.47 and a two-hundred day moving average of $169.78.

NVIDIA (NASDAQ:NVDA) last issued its earnings results 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 company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.55 billion. NVIDIA had a net margin of 26.93% and a return on equity of 24.40%. NVIDIA’s quarterly revenue was down 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.94 EPS. Research analysts expect that NVIDIA will post 4.07 earnings per share for the current fiscal year.

In related news, Director Dawn E. Hudson sold 5,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $171.73, for a total value of $858,650.00. Following the sale, the director now directly owns 36,037 shares of the company’s stock, valued at approximately $6,188,634.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 31,357 shares of the 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 disclosure for this sale can be found here. Insiders sold a total of 66,383 shares of company stock worth $11,625,217 over the last three months. 4.64% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Nuveen Asset Management LLC increased its position in shares of NVIDIA by 2,475.9% during the second quarter. Nuveen Asset Management LLC now owns 3,002,209 shares of the computer hardware maker’s stock worth $493,052,000 after acquiring an additional 2,885,660 shares during the period. Thoroughbred Financial Services LLC increased its position in shares of NVIDIA by 22,776.5% during the second quarter. Thoroughbred Financial Services LLC now owns 883,719 shares of the computer hardware maker’s stock worth $88,372,000 after acquiring an additional 879,856 shares during the period. Jennison Associates LLC increased its position in shares of NVIDIA by 10.6% during the second quarter. Jennison Associates LLC now owns 8,690,058 shares of the computer hardware maker’s stock worth $1,427,168,000 after acquiring an additional 832,508 shares during the period. Renaissance Technologies LLC purchased a new position in shares of NVIDIA during the second quarter worth approximately $101,986,000. Finally, Vanguard Group Inc. increased its position in shares of NVIDIA by 1.2% during the second quarter. Vanguard Group Inc. now owns 45,990,868 shares of the computer hardware maker’s stock worth $7,553,081,000 after acquiring an additional 528,040 shares during the period. 64.45% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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