B. Riley Reaffirms “Buy” Rating for NVIDIA Corporation (NVDA)
NVIDIA Corporation (NASDAQ:NVDA)‘s stock had its “buy” rating reaffirmed by research analysts at B. Riley in a research note issued to investors on Tuesday. They presently have a $200.00 price target on the computer hardware maker’s stock. B. Riley’s price target indicates a potential upside of 5.89% from the company’s previous close.
Other equities research analysts have also recently issued reports about the stock. Susquehanna Bancshares Inc reiterated a “neutral” rating on shares of NVIDIA Corporation in a research report on Monday, July 3rd. Goldman Sachs Group, Inc. (The) increased their target price on shares of NVIDIA Corporation to $217.00 and gave the company a “positive” rating in a research report on Wednesday. BidaskClub cut shares of NVIDIA Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 28th. Stifel Nicolaus reiterated a “hold” rating and issued a $110.00 target price on shares of NVIDIA Corporation in a research report on Friday, August 11th. Finally, MKM Partners reiterated a “neutral” rating and issued a $120.00 target price (up from $106.00) on shares of NVIDIA Corporation in a research report on Monday, August 14th. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $156.80.
NVIDIA Corporation (NVDA) traded up 0.86% during trading on Tuesday, reaching $190.55. 10,063,478 shares of the company traded hands. NVIDIA Corporation has a 52 week low of $63.70 and a 52 week high of $192.95. The company has a market capitalization of $114.33 billion, a P/E ratio of 54.13 and a beta of 1.28. The firm has a 50-day moving average price of $173.78 and a 200-day moving average price of $147.08.
NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.32. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $1.96 billion. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. The firm’s revenue for the quarter was up 56.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. Analysts forecast that NVIDIA Corporation will post $3.64 earnings per share for the current fiscal year.
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In other news, insider Michael Byron sold 409 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $171.01, for a total transaction of $69,943.09. Following the completion of the sale, the insider now owns 136,199 shares in the company, valued at approximately $23,291,390.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 80,250 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $187.23, for a total value of $15,025,207.50. Following the sale, the director now owns 37,382 shares of the company’s stock, valued at approximately $6,999,031.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 396,478 shares of company stock valued at $70,872,012. Corporate insiders own 5.17% of the company’s stock.
Several large investors have recently modified their holdings of NVDA. Quadrant Capital Group LLC grew its holdings in shares of NVIDIA Corporation by 17.5% during the 1st quarter. Quadrant Capital Group LLC now owns 1,055 shares of the computer hardware maker’s stock worth $105,000 after purchasing an additional 157 shares during the period. West Oak Capital LLC boosted its holdings in NVIDIA Corporation by 183.6% in the 3rd quarter. West Oak Capital LLC now owns 1,560 shares of the computer hardware maker’s stock worth $107,000 after acquiring an additional 1,010 shares during the period. Evercore Wealth Management LLC boosted its holdings in NVIDIA Corporation by 36.9% in the 2nd quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock worth $110,000 after acquiring an additional 206 shares during the period. TB Alternative Assets Ltd. purchased a new position in NVIDIA Corporation in the 2nd quarter worth approximately $116,000. Finally, Proficio Capital Partners LLC boosted its holdings in NVIDIA Corporation by 186.1% in the 1st quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock worth $117,000 after acquiring an additional 547 shares during the period. Institutional investors and hedge funds own 65.79% of the company’s stock.
NVIDIA Corporation Company Profile
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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