NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reissued by equities research analysts at Bank of America in a note issued to investors on Friday, January 19th, Marketbeat Ratings reports. They currently have a $275.00 target price on the computer hardware maker’s stock, up from their previous target price of $251.00. Bank of America’s price objective indicates a potential upside of 13.91% from the company’s previous close.
NVDA has been the topic of several other research reports. Citigroup restated a “buy” rating and issued a $210.00 price objective (up previously from $185.00) on shares of NVIDIA in a research note on Friday, September 29th. Vetr cut NVIDIA from a “strong-buy” rating to a “buy” rating and set a $217.46 target price for the company. in a research report on Wednesday, January 3rd. Goldman Sachs Group reaffirmed a “buy” rating and issued a $228.00 target price on shares of NVIDIA in a research report on Friday, January 5th. Needham & Company LLC raised their target price on NVIDIA from $200.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, October 13th. Finally, Mizuho reaffirmed a “buy” rating and issued a $240.00 target price (up from $225.00) on shares of NVIDIA in a research report on Tuesday, January 16th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $210.67.
Shares of NVIDIA (NVDA) traded up $8.79 during trading on Friday, hitting $241.42. 18,620,000 shares of the stock traded hands, compared to its average volume of 16,930,000. The firm has a market capitalization of $146,300.00, a P/E ratio of 49.98, a price-to-earnings-growth ratio of 3.71 and a beta of 1.43. The company has a debt-to-equity ratio of 0.27, a quick ratio of 7.34 and a current ratio of 8.03. NVIDIA has a twelve month low of $95.17 and a twelve month high of $249.27.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, February 8th. The computer hardware maker reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.56. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.67 billion. NVIDIA had a net margin of 31.36% and a return on equity of 45.02%. NVIDIA’s quarterly revenue was up 34.0% on a year-over-year basis. During the same quarter last year, the company posted $1.13 earnings per share. analysts anticipate that NVIDIA will post 6 earnings per share for the current year.
In related news, Director Mark L. Perry sold 17,307 shares of NVIDIA stock in a transaction dated Monday, February 12th. The stock was 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Colette Kress sold 171 shares of NVIDIA stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $185.57, for a total value of $31,732.47. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,165 shares of company stock valued at $4,970,569. Corporate insiders own 5.17% of the company’s stock.
A number of hedge funds have recently made changes to their positions in NVDA. Welch Investments LLC acquired a new position in shares of NVIDIA during the 3rd quarter worth about $104,000. Evercore Wealth Management LLC grew its position in shares of NVIDIA by 36.9% during the 2nd quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock worth $110,000 after buying an additional 206 shares during the period. Country Trust Bank grew its position in shares of NVIDIA by 490.0% during the 4th quarter. Country Trust Bank now owns 590 shares of the computer hardware maker’s stock worth $114,000 after buying an additional 490 shares during the period. Global Trust Asset Management LLC acquired a new position in shares of NVIDIA during the 4th quarter worth about $116,000. Finally, Clearbridge Investments LLC grew its position in shares of NVIDIA by 100.0% during the 4th quarter. Clearbridge Investments LLC now owns 600 shares of the computer hardware maker’s stock worth $116,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 62.70% of the company’s stock.
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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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