NVIDIA Corporation (NASDAQ:NVDA) Receives Average Recommendation of “Hold” from Brokerages
Shares of NVIDIA Corporation (NASDAQ:NVDA) have earned a consensus recommendation of “Hold” from the forty-two research firms that are covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $134.71.
Several equities analysts have recently issued reports on the stock. Vetr raised shares of NVIDIA Corporation from a “buy” rating to a “strong-buy” rating and set a $117.19 price target for the company in a research note on Thursday, May 4th. Stifel Nicolaus raised their price target on shares of NVIDIA Corporation from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, May 10th. Rosenblatt Securities reaffirmed a “buy” rating and set a $140.00 price target on shares of NVIDIA Corporation in a research note on Friday, May 19th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of NVIDIA Corporation in a research note on Thursday, July 13th. Finally, Zacks Investment Research raised shares of NVIDIA Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 8th.
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NVIDIA Corporation (NVDA) traded down 1.19% during mid-day trading on Tuesday, reaching $170.30. 18,765,907 shares of the company’s stock were exchanged. The firm has a market cap of $101.33 billion, a price-to-earnings ratio of 57.17 and a beta of 1.24. The stock has a 50-day moving average of $156.80 and a 200-day moving average of $124.22. NVIDIA Corporation has a 12 month low of $57.31 and a 12 month high of $174.56.
NVIDIA Corporation (NASDAQ:NVDA) last released its quarterly earnings results on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.16. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.91 billion. NVIDIA Corporation had a net margin of 25.95% and a return on equity of 36.40%. The company’s revenue for the quarter was up 48.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 earnings per share. Analysts anticipate that NVIDIA Corporation will post $3.10 earnings per share for the current year.
In other news, Director Tench Coxe sold 50,000 shares of NVIDIA Corporation stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $164.53, for a total value of $8,226,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Persis Drell sold 2,500 shares of NVIDIA Corporation stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $130.02, for a total transaction of $325,050.00. Following the completion of the transaction, the director now owns 24,652 shares of the company’s stock, valued at approximately $3,205,253.04. The disclosure for this sale can be found here. Insiders sold 622,282 shares of company stock valued at $93,304,082 in the last quarter. Corporate insiders own 5.17% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. RB Capital Management LLC purchased a new position in shares of NVIDIA Corporation during the second quarter valued at approximately $272,000. Greenwich Wealth Management LLC boosted its position in shares of NVIDIA Corporation by 0.6% in the first quarter. Greenwich Wealth Management LLC now owns 55,437 shares of the computer hardware maker’s stock valued at $6,039,000 after buying an additional 357 shares in the last quarter. Columbus Circle Investors purchased a new position in shares of NVIDIA Corporation during the first quarter valued at approximately $8,530,000. Ameriprise Financial Inc. boosted its position in shares of NVIDIA Corporation by 46.6% in the first quarter. Ameriprise Financial Inc. now owns 5,257,325 shares of the computer hardware maker’s stock valued at $572,695,000 after buying an additional 1,672,231 shares in the last quarter. Finally, Menora Mivtachim Holdings LTD. purchased a new position in shares of NVIDIA Corporation during the first quarter valued at approximately $17,244,000. 68.91% of the stock is owned by institutional investors.
About NVIDIA Corporation
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at 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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