NVIDIA (NVDA) Downgraded by Vetr

NVIDIA (NASDAQ:NVDA) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued on Wednesday. They currently have a $250.39 price objective on the computer hardware maker’s stock. Vetr‘s target price would indicate a potential upside of 3.72% from the company’s current price.

Several other analysts have also recently commented on the stock. Nomura raised their price objective on shares of NVIDIA to $225.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. BMO Capital Markets lifted their target price on shares of NVIDIA from $200.00 to $225.00 and gave the stock a “market perform” rating in a research report on Friday, February 9th. B. Riley lifted their target price on shares of NVIDIA from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Morgan Stanley lifted their target price on shares of NVIDIA from $222.00 to $258.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Finally, Needham & Company LLC lifted their target price on shares of NVIDIA to $300.00 in a research report on Friday, February 9th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $210.77.

Shares of NVIDIA (NASDAQ:NVDA) traded up $8.79 during midday trading on Wednesday, hitting $241.42. 18,542,254 shares of the company traded hands, compared to its average volume of 16,930,000. The company has a debt-to-equity ratio of 0.27, a current ratio of 8.03 and a quick ratio of 7.34. NVIDIA has a 12-month low of $95.17 and a 12-month high of $249.27. The firm has a market capitalization of $146,300.00, a PE ratio of 49.98, a price-to-earnings-growth ratio of 3.71 and a beta of 1.43.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, February 8th. The computer hardware maker reported $1.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.56. NVIDIA had a net margin of 31.36% and a return on equity of 45.02%. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter last year, the business earned $1.13 earnings per share. The business’s revenue for the quarter was up 34.0% compared to the same quarter last year. research analysts forecast that NVIDIA will post 6 earnings per share for the current fiscal year.

In related news, Director Mark L. Perry sold 17,307 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $227.93, for a total value of $3,944,784.51. Following the completion of the sale, the director now directly owns 30,762 shares in the company, valued at $7,011,582.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Persis Drell sold 606 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $197.07, for a total transaction of $119,424.42. Following the completion of the sale, the director now owns 26,104 shares of the company’s stock, valued at $5,144,315.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,165 shares of company stock valued at $4,970,569. 5.17% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Whale Rock Capital Management LLC purchased a new stake in NVIDIA during the third quarter worth approximately $93,171,000. Geode Capital Management LLC grew its stake in NVIDIA by 7.7% during the fourth quarter. Geode Capital Management LLC now owns 7,194,300 shares of the computer hardware maker’s stock worth $1,389,500,000 after buying an additional 512,166 shares during the period. Old Mutual Global Investors UK Ltd. grew its stake in NVIDIA by 71.3% during the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 1,028,663 shares of the computer hardware maker’s stock worth $199,046,000 after buying an additional 428,046 shares during the period. Zevenbergen Capital Investments LLC grew its stake in NVIDIA by 957.5% during the third quarter. Zevenbergen Capital Investments LLC now owns 391,565 shares of the computer hardware maker’s stock worth $70,000,000 after buying an additional 354,537 shares during the period. Finally, Global X Management Co. LLC grew its stake in NVIDIA by 124.8% during the fourth quarter. Global X Management Co. LLC now owns 616,045 shares of the computer hardware maker’s stock worth $119,205,000 after buying an additional 342,038 shares during the period. Hedge funds and other institutional investors own 62.70% of the company’s stock.

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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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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