Sanford C. Bernstein Downgrades NVIDIA (NVDA) to Market Perform

NVIDIA (NASDAQ:NVDA) was downgraded by investment analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a report released on Monday, The Fly reports.

Other equities analysts also recently issued research reports about the company. ValuEngine downgraded NVIDIA from a “hold” rating to a “sell” rating in a research report on Monday, November 12th. Royal Bank of Canada dropped their price target on NVIDIA from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, December 27th. Morgan Stanley downgraded NVIDIA from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $220.00 to $148.00 in a research report on Tuesday, January 29th. BMO Capital Markets dropped their price target on NVIDIA to $130.00 and set a “market perform” rating for the company in a research report on Tuesday, January 29th. Finally, Raymond James dropped their price target on NVIDIA from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, November 16th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $219.88.

NASDAQ NVDA opened at $148.17 on Monday. NVIDIA has a 1-year low of $124.46 and a 1-year high of $292.76. The company has a market capitalization of $90.38 billion, a P/E ratio of 31.73, a PEG ratio of 2.98 and a beta of 1.93. The company has a quick ratio of 6.20, a current ratio of 7.08 and a debt-to-equity ratio of 0.21.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, November 15th. The computer hardware maker reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.06). The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.24 billion. NVIDIA had a return on equity of 51.60% and a net margin of 37.78%. On average, equities research analysts expect that NVIDIA will post 5.77 EPS for the current fiscal year.

In related news, EVP Debora Shoquist sold 6,345 shares of NVIDIA stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $135.33, for a total value of $858,668.85. Following the transaction, the executive vice president now owns 177,911 shares in the company, valued at $24,076,695.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 889 shares of NVIDIA stock in a transaction on Friday, December 14th. The shares were sold at an average price of $147.91, for a total value of $131,491.99. Following the completion of the transaction, the chief financial officer now owns 259,912 shares in the company, valued at approximately $38,443,583.92. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of NVDA. FMR LLC boosted its holdings in NVIDIA by 3.5% in the second quarter. FMR LLC now owns 48,594,422 shares of the computer hardware maker’s stock valued at $11,512,019,000 after acquiring an additional 1,656,748 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of NVIDIA by 35.3% during the second quarter. Advisors Asset Management Inc. now owns 26,999 shares of the computer hardware maker’s stock worth $6,396,000 after purchasing an additional 7,039 shares in the last quarter. MAI Capital Management acquired a new position in shares of NVIDIA during the third quarter worth about $210,000. Security National Bank lifted its stake in shares of NVIDIA by 0.9% during the third quarter. Security National Bank now owns 25,118 shares of the computer hardware maker’s stock worth $7,059,000 after purchasing an additional 212 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. lifted its stake in shares of NVIDIA by 7.0% during the third quarter. Winslow Evans & Crocker Inc. now owns 6,812 shares of the computer hardware maker’s stock worth $1,916,000 after purchasing an additional 444 shares in the last quarter. Hedge funds and other institutional investors own 71.44% of the company’s stock.

About NVIDIA

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

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