NVIDIA (NVDA) Raised to Market Perform at BMO Capital Markets

NVIDIA (NASDAQ:NVDA) was upgraded by equities research analysts at BMO Capital Markets from an “underperform” rating to a “market perform” rating in a report issued on Monday, November 13th. The firm presently has a $216.14 price objective on the computer hardware maker’s stock, down from their previous price objective of $218.67. BMO Capital Markets’ target price suggests a potential upside of 11.70% from the stock’s current price.

Several other research analysts also recently commented on the stock. Raymond James Financial increased their price objective on shares of NVIDIA and gave the company an “outperform” rating in a report on Friday, November 10th. Bank of America set a $210.00 price objective on shares of NVIDIA and gave the company a “buy” rating in a report on Thursday, October 12th. Canaccord Genuity reissued a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Friday, September 8th. Royal Bank of Canada increased their price objective on shares of NVIDIA from $230.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Finally, BidaskClub raised shares of NVIDIA from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. NVIDIA presently has a consensus rating of “Buy” and an average price target of $191.83.

NVIDIA (NASDAQ NVDA) traded down $3.90 on Monday, hitting $193.50. 6,896,330 shares of the company’s stock traded hands, compared to its average volume of 12,290,144. NVIDIA has a twelve month low of $95.17 and a twelve month high of $218.67. The company has a market cap of $117,261.00, a P/E ratio of 48.02, a PEG ratio of 4.51 and a beta of 1.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.26 and a quick ratio of 7.42.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, November 9th. The computer hardware maker reported $1.33 EPS for the quarter, beating the consensus estimate of $0.94 by $0.39. NVIDIA had a net margin of 28.78% and a return on equity of 42.71%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. The business’s revenue was up 31.5% on a year-over-year basis. analysts forecast that NVIDIA will post 4.19 earnings per share for the current year.

In related news, insider Michael Byron sold 9,538 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $179.80, for a total value of $1,714,932.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Debora Shoquist sold 33,498 shares of the stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $189.24, for a total transaction of $6,339,161.52. The disclosure for this sale can be found here. Insiders sold a total of 85,702 shares of company stock worth $16,508,028 over the last three months. 5.82% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the company. Cibc World Markets Corp increased its position in shares of NVIDIA by 12.1% during the second quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker’s stock worth $18,549,000 after acquiring an additional 13,802 shares during the period. Meiji Yasuda Life Insurance Co increased its position in shares of NVIDIA by 9.9% during the second quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock worth $1,600,000 after acquiring an additional 1,000 shares during the period. RB Capital Management LLC purchased a new position in shares of NVIDIA during the second quarter worth approximately $272,000. Oppenheimer Asset Management Inc. increased its position in shares of NVIDIA by 17.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker’s stock worth $2,715,000 after acquiring an additional 2,836 shares during the period. Finally, D. Scott Neal Inc. purchased a new position in shares of NVIDIA during the second quarter worth approximately $258,000. 63.41% of the stock is currently owned by institutional investors and hedge funds.

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About NVIDIA

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.