NVIDIA Corporation (NVDA) Price Target Raised to $110.00 at Nomura
NVIDIA Corporation (NASDAQ:NVDA) had its price target hoisted by investment analysts at Nomura from $90.00 to $110.00 in a research note issued to investors on Friday. The brokerage presently has a “reduce” rating on the computer hardware maker’s stock. Nomura’s target price would suggest a potential downside of 29.46% from the stock’s previous close.
Several other brokerages have also commented on NVDA. B. Riley reaffirmed a “buy” rating and issued a $200.00 price target (up previously from $135.00) on shares of NVIDIA Corporation in a research note on Monday. Bank of America Corporation reaffirmed a “buy” rating on shares of NVIDIA Corporation in a research note on Monday. BidaskClub raised NVIDIA Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Vetr lowered NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $177.02 price target on the stock. in a research note on Wednesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $152.00 price target on shares of NVIDIA Corporation in a research note on Thursday. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $141.79.
Shares of NVIDIA Corporation (NVDA) traded down 5.33% during midday trading on Friday, reaching $155.96. The company’s stock had a trading volume of 37,370,287 shares. The company has a market capitalization of $92.80 billion, a price-to-earnings ratio of 52.35 and a beta of 1.24. The stock has a 50 day moving average price of $159.56 and a 200-day moving average price of $127.02. NVIDIA Corporation has a 52-week low of $57.32 and a 52-week high of $174.56. NVIDIA Corporation also was the target of some unusual options trading on Thursday. Investors bought 84,606 put options on the stock. This is an increase of approximately 147% compared to the average volume of 34,198 put options.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.32. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $1.96 billion. NVIDIA Corporation had a return on equity of 36.40% and a net margin of 25.95%. NVIDIA Corporation’s quarterly revenue was up 56.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 EPS. Equities research analysts expect that NVIDIA Corporation will post $3.10 EPS for the current year.
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In other NVIDIA Corporation news, Director Harvey C. Jones sold 145,520 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $159.31, for a total value of $23,182,791.20. Following the sale, the director now owns 30,762 shares in the company, valued at $4,900,694.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Persis Drell sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $130.02, for a total value of $325,050.00. Following the completion of the sale, the director now owns 24,652 shares in the company, valued at approximately $3,205,253.04. The disclosure for this sale can be found here. Insiders sold 572,282 shares of company stock worth $86,830,082 in the last 90 days. Corporate insiders own 5.82% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in NVDA. Wellington Management Group LLP raised its position in shares of NVIDIA Corporation by 499.0% in the first quarter. Wellington Management Group LLP now owns 4,104,980 shares of the computer hardware maker’s stock worth $447,156,000 after buying an additional 3,419,701 shares during the period. Vanguard Group Inc. raised its position in shares of NVIDIA Corporation by 7.1% in the second quarter. Vanguard Group Inc. now owns 40,257,187 shares of the computer hardware maker’s stock worth $5,819,579,000 after buying an additional 2,676,976 shares during the period. Ameriprise Financial Inc. raised its position in shares of NVIDIA Corporation by 46.6% in the first quarter. Ameriprise Financial Inc. now owns 5,257,325 shares of the computer hardware maker’s stock worth $572,695,000 after buying an additional 1,672,231 shares during the period. Winslow Capital Management LLC purchased a new position in shares of NVIDIA Corporation during the first quarter worth $126,231,000. Finally, WINTON GROUP Ltd raised its position in shares of NVIDIA Corporation by 290.5% in the first quarter. WINTON GROUP Ltd now owns 1,552,770 shares of the computer hardware maker’s stock worth $106,396,000 after buying an additional 1,155,115 shares during the period. Hedge funds and other institutional investors own 68.91% of the company’s stock.
NVIDIA Corporation Company Profile
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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