NVIDIA Corporation’s (NVDA) Equal Weight Rating Reiterated at Barclays PLC
NVIDIA Corporation (NASDAQ:NVDA)‘s stock had its “equal weight” rating reissued by Barclays PLC in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. They currently have a $200.00 price target on the computer hardware maker’s stock, up from their prior price target of $140.00. Barclays PLC’s target price would suggest a potential upside of 11.50% from the company’s previous close.
Other equities analysts have also recently issued research reports about the stock. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $171.00 price objective (up previously from $165.00) on shares of NVIDIA Corporation in a research note on Wednesday, June 14th. Vetr lowered shares of NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $172.54 target price for the company. in a research note on Thursday, August 31st. Zacks Investment Research upgraded shares of NVIDIA Corporation from a “hold” rating to a “strong-buy” rating and set a $169.00 price target on the stock in a report on Tuesday, July 11th. Credit Suisse Group restated an “outperform” rating on shares of NVIDIA Corporation in a report on Thursday, August 31st. Finally, BidaskClub raised shares of NVIDIA Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 16th. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $154.62.
Shares of NVIDIA Corporation (NASDAQ:NVDA) traded up 0.81% during midday trading on Wednesday, reaching $180.83. 9,841,684 shares of the company were exchanged. The company has a market capitalization of $108.50 billion, a PE ratio of 52.01 and a beta of 1.28. The firm’s 50 day moving average is $170.84 and its 200-day moving average is $144.33. NVIDIA Corporation has a 52-week low of $63.70 and a 52-week high of $191.20.
NVIDIA Corporation (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the firm earned $0.53 EPS. The firm’s revenue for the quarter was up 56.2% on a year-over-year basis. On average, equities analysts forecast that NVIDIA Corporation will post $3.63 earnings per share for the current fiscal year.
In related news, insider Michael Byron sold 409 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $171.01, for a total transaction of $69,943.09. Following the sale, the insider now owns 136,199 shares of the company’s stock, valued at approximately $23,291,390.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harvey C. Jones sold 100,000 shares of the stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $150.29, for a total value of $15,029,000.00. Following the sale, the director now directly owns 30,762 shares in the company, valued at approximately $4,623,220.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 486,940 shares of company stock worth $84,186,080. 5.17% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Evercore Wealth Management LLC boosted its position in shares of NVIDIA Corporation by 36.9% in the second 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 during the period. TB Alternative Assets Ltd. purchased a new position in shares of NVIDIA Corporation during the 2nd quarter valued at $116,000. Proficio Capital Partners LLC grew its position in shares of NVIDIA Corporation by 186.1% during the 1st quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock valued at $117,000 after purchasing an additional 547 shares in the last quarter. Thompson Davis & CO. Inc. grew its position in shares of NVIDIA Corporation by 0.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock valued at $119,000 after purchasing an additional 6 shares in the last quarter. Finally, Hanson McClain Inc. grew its position in shares of NVIDIA Corporation by 12.7% during the 2nd quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker’s stock valued at $127,000 after purchasing an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 65.79% of the company’s stock.
About NVIDIA Corporation
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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