BidaskClub Upgrades NVIDIA (NASDAQ:NVDA) to “Hold”

BidaskClub upgraded shares of NVIDIA (NASDAQ:NVDA) from a sell rating to a hold rating in a research note issued to investors on Wednesday, BidAskClub reports.

A number of other research firms also recently commented on NVDA. SunTrust Banks set a $210.00 target price on NVIDIA and gave the stock a buy rating in a report on Friday, August 16th. Sanford C. Bernstein set a $150.00 price target on NVIDIA and gave the stock a hold rating in a report on Wednesday, June 26th. JPMorgan Chase & Co. set a $200.00 price target on NVIDIA and gave the stock a buy rating in a report on Friday, August 16th. Nomura set a $147.00 price target on NVIDIA and gave the stock a hold rating in a report on Friday, August 16th. Finally, Summit Redstone downgraded NVIDIA to a hold rating in a report on Friday, May 17th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $190.40.

NASDAQ:NVDA opened at $162.44 on Wednesday. The company has a quick ratio of 7.74, a current ratio of 8.65 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $164.03 and its two-hundred day moving average is $163.88. NVIDIA has a 52 week low of $124.46 and a 52 week high of $292.76. The company has a market cap of $104.43 billion, a PE ratio of 26.76, a P/E/G ratio of 4.40 and a beta of 2.07.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, August 15th. The computer hardware maker reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.37. NVIDIA had a return on equity of 24.40% and a net margin of 26.93%. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the business posted $1.94 EPS. NVIDIA’s quarterly revenue was down 17.4% compared to the same quarter last year. As a group, sell-side analysts expect that NVIDIA will post 4.08 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, August 29th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.39%. The ex-dividend date is Wednesday, August 28th. NVIDIA’s dividend payout ratio is currently 10.54%.

In related news, Director Persis Drell sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $167.36, for a total value of $418,400.00. Following the sale, the director now directly owns 18,184 shares in the company, valued at approximately $3,043,274.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Harvey C. Jones sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $145.10, for a total value of $14,510,000.00. Following the completion of the sale, the director now owns 32,983 shares in the company, valued at $4,785,833.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 107,236 shares of company stock worth $15,712,126. 4.64% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Pacific Center for Financial Services increased its position in shares of NVIDIA by 143.1% during the 2nd quarter. Pacific Center for Financial Services now owns 158 shares of the computer hardware maker’s stock valued at $26,000 after purchasing an additional 93 shares during the period. Thor Advisors LLC acquired a new position in shares of NVIDIA during the 1st quarter valued at $29,000. Harvest Group Wealth Management LLC acquired a new position in shares of NVIDIA during the 1st quarter valued at $30,000. Creative Financial Designs Inc. ADV increased its position in shares of NVIDIA by 181.2% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 194 shares of the computer hardware maker’s stock valued at $35,000 after purchasing an additional 125 shares during the period. Finally, Field & Main Bank acquired a new position in shares of NVIDIA during the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 66.93% of the company’s stock.

NVIDIA Company Profile

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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