Nvidia Corp. (NVDA) Downgraded by Vetr Inc.
Nvidia Corp. (NASDAQ:NVDA) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a report issued on Monday. They currently have a $65.46 price objective on the computer hardware maker’s stock. Vetr‘s price target suggests a potential downside of 0.80% from the company’s current price.
Several other brokerages also recently commented on NVDA. Wells Fargo & Co. restated an “underperform” rating on shares of Nvidia Corp. in a research note on Friday, September 30th. Bank of America Corp. restated a “buy” rating and issued a $80.00 target price on shares of Nvidia Corp. in a research note on Monday, October 3rd. SunTrust Banks Inc. assumed coverage on shares of Nvidia Corp. in a research note on Monday, September 19th. They issued a “neutral” rating and a $59.00 target price on the stock. Susquehanna assumed coverage on shares of Nvidia Corp. in a research note on Tuesday, September 20th. They issued a “neutral” rating and a $66.00 target price on the stock. Finally, Brean Capital restated a “hold” rating on shares of Nvidia Corp. in a research note on Monday, August 15th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and nineteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $58.45.
Nvidia Corp. (NASDAQ:NVDA) opened at 65.99 on Monday. The stock has a 50 day moving average of $64.34 and a 200 day moving average of $51.04. Nvidia Corp. has a 52 week low of $24.75 and a 52 week high of $69.70. The firm has a market cap of $35.30 billion, a PE ratio of 43.36 and a beta of 1.25.
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Nvidia Corp. (NASDAQ:NVDA) last issued its earnings results on Thursday, August 11th. The computer hardware maker reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.16. Nvidia Corp. had a net margin of 16.58% and a return on equity of 20.86%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the company earned $0.34 EPS. The firm’s revenue for the quarter was up 23.9% compared to the same quarter last year. Analysts anticipate that Nvidia Corp. will post $1.85 EPS for the current year.
In other Nvidia Corp. news, Director A Brooke Seawell sold 30,000 shares of the stock in a transaction on Friday, September 16th. The stock was sold at an average price of $62.52, for a total transaction of $1,875,600.00. Following the transaction, the director now owns 6,213 shares in the company, valued at approximately $388,436.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jen Hsun Huang sold 40,000 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $58.66, for a total value of $2,346,400.00. Following the transaction, the insider now owns 1,817,279 shares in the company, valued at approximately $106,601,586.14. The disclosure for this sale can be found here. Company insiders own 5.82% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Trinity Street Asset Management LLP boosted its position in Nvidia Corp. by 154.6% in the second quarter. Trinity Street Asset Management LLP now owns 563,363 shares of the computer hardware maker’s stock valued at $26,483,000 after buying an additional 342,092 shares during the last quarter. Natixis boosted its position in Nvidia Corp. by 91.1% in the first quarter. Natixis now owns 1,754,727 shares of the computer hardware maker’s stock valued at $62,521,000 after buying an additional 836,276 shares during the last quarter. Legal & General Group Plc boosted its position in Nvidia Corp. by 5.1% in the first quarter. Legal & General Group Plc now owns 2,243,547 shares of the computer hardware maker’s stock valued at $79,938,000 after buying an additional 107,884 shares during the last quarter. Clark Capital Management Group Inc. purchased a new position in Nvidia Corp. during the first quarter valued at $7,723,000. Finally, Nordea Investment Management AB boosted its position in Nvidia Corp. by 114.1% in the second quarter. Nordea Investment Management AB now owns 33,823 shares of the computer hardware maker’s stock valued at $1,590,000 after buying an additional 18,023 shares during the last quarter. Hedge funds and other institutional investors own 86.37% of the company’s stock.
About Nvidia Corp.
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters.
To view Vetr’s full report, visit Vetr’s official website.
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