Bank of America Reaffirms Buy Rating for NVIDIA (NVDA)

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reissued by research analysts at Bank of America in a note issued to investors on Friday. They currently have a $275.00 price objective on the computer hardware maker’s stock, up from their previous price objective of $251.00. Bank of America’s price objective suggests a potential upside of 20.12% from the company’s current price.

NVDA has been the topic of several other research reports. Mizuho restated a “buy” rating and set a $240.00 price target (up previously from $225.00) on shares of NVIDIA in a research note on Tuesday. Citigroup restated a “buy” rating and set a $210.00 price target (up previously from $185.00) on shares of NVIDIA in a research note on Friday, September 29th. BidaskClub upgraded shares of NVIDIA from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 11th. Sanford C. Bernstein restated an “outperform” rating on shares of NVIDIA in a research note on Saturday, September 23rd. Finally, SunTrust Banks restated a “buy” rating and set a $200.00 price target (up previously from $181.00) on shares of NVIDIA in a research note on Monday, October 2nd. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. NVIDIA currently has an average rating of “Buy” and an average price target of $193.10.

NVIDIA (NASDAQ:NVDA) traded up $4.50 during mid-day trading on Friday, reaching $228.94. 4,914,151 shares of the company’s stock were exchanged, compared to its average volume of 14,186,450. NVIDIA has a 12 month low of $95.17 and a 12 month high of $227.51. The company has a current ratio of 8.26, a quick ratio of 7.42 and a debt-to-equity ratio of 0.31. The stock has a market cap of $138,230.00, a P/E ratio of 57.24, a price-to-earnings-growth ratio of 5.23 and a beta of 1.18.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.39. NVIDIA had a net margin of 28.78% and a return on equity of 42.71%. The company 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 company’s revenue was up 31.5% compared to the same quarter last year. analysts expect that NVIDIA will post 4.19 EPS for the current fiscal year.

In related news, Director Dawn E. Hudson sold 15,000 shares of NVIDIA stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $213.44, for a total transaction of $3,201,600.00. Following the completion of the transaction, the director now directly owns 46,868 shares of the company’s stock, valued at approximately $10,003,505.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director A Brooke Seawell sold 1,029 shares of NVIDIA stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $214.10, for a total transaction of $220,308.90. Following the transaction, the director now directly owns 1,029 shares of the company’s stock, valued at $220,308.90. The disclosure for this sale can be found here. Insiders have sold a total of 19,858 shares of company stock valued at $4,227,384 over the last three months. 5.82% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Welch Investments LLC acquired a new stake in NVIDIA in the 3rd quarter valued at about $104,000. Country Trust Bank increased its position in NVIDIA by 490.0% in the 4th quarter. Country Trust Bank now owns 590 shares of the computer hardware maker’s stock valued at $114,000 after acquiring an additional 490 shares in the last quarter. North Star Investment Management Corp. increased its position in NVIDIA by 67.3% in the 4th quarter. North Star Investment Management Corp. now owns 634 shares of the computer hardware maker’s stock valued at $123,000 after acquiring an additional 255 shares in the last quarter. Evercore Wealth Management LLC increased its position in NVIDIA by 36.9% in the 2nd quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock valued at $110,000 after acquiring an additional 206 shares in the last quarter. Finally, Edge Advisors LLC increased its position in NVIDIA by 98.8% in the 3rd quarter. Edge Advisors LLC now owns 835 shares of the computer hardware maker’s stock valued at $149,000 after acquiring an additional 415 shares in the last quarter. 63.40% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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