NVIDIA (NVDA) Upgraded to “Outperform” at UBS Group
NVIDIA (NASDAQ:NVDA) was upgraded by equities research analysts at UBS Group from a “market perform” rating to an “outperform” rating in a note issued to investors on Friday, The Fly reports.
A number of other research firms have also recently commented on NVDA. Cowen started coverage on NVIDIA in a report on Thursday, May 17th. They issued an “outperform” rating and a $325.00 price target on the stock. B. Riley boosted their price target on NVIDIA from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, May 11th. SunTrust Banks boosted their price target on NVIDIA to $316.00 and gave the stock a “buy” rating in a report on Friday, May 11th. Barclays raised NVIDIA from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $265.00 to $280.00 in a report on Thursday, May 3rd. Finally, Stifel Nicolaus boosted their price target on NVIDIA from $220.00 to $243.00 and gave the stock a “hold” rating in a report on Friday, May 11th. Eight research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $281.58.
NASDAQ NVDA opened at $244.82 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.82 and a current ratio of 8.54. NVIDIA has a 12 month low of $157.37 and a 12 month high of $269.20. The company has a market capitalization of $154.66 billion, a P/E ratio of 52.42, a price-to-earnings-growth ratio of 3.51 and a beta of 1.56.
In other news, CFO Colette Kress sold 889 shares of the business’s stock in a transaction that occurred on Thursday, June 21st. The stock was sold at an average price of $257.64, for a total transaction of $229,041.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Harvey C. Jones sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 26th. The shares were sold at an average price of $242.11, for a total value of $24,211,000.00. Following the transaction, the director now directly owns 31,725 shares in the company, valued at approximately $7,680,939.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 269,632 shares of company stock worth $67,615,033. Corporate insiders own 4.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Adirondack Trust Co. increased its position in shares of NVIDIA by 146.1% during the 1st quarter. Adirondack Trust Co. now owns 443 shares of the computer hardware maker’s stock valued at $100,000 after purchasing an additional 263 shares during the last quarter. Kwmg LLC bought a new position in shares of NVIDIA during the 2nd quarter valued at approximately $105,000. Legacy Financial Advisors Inc. increased its position in shares of NVIDIA by 111.0% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 443 shares of the computer hardware maker’s stock valued at $110,000 after purchasing an additional 233 shares during the last quarter. Bruderman Asset Management LLC bought a new position in shares of NVIDIA during the 1st quarter valued at approximately $127,000. Finally, Almanack Investment Partners LLC. bought a new position in shares of NVIDIA during the 2nd quarter valued at approximately $127,000. 65.33% of the stock is currently owned by hedge funds and other institutional investors.
NVIDIA Company Profile
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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