NVIDIA (NASDAQ:NVDA) Rating Increased to Outperform at Sanford C. Bernstein

NVIDIA (NASDAQ:NVDA) was upgraded by stock analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday, The Fly reports.

NVDA has been the subject of a number of other reports. Rosenblatt Securities upped their price target on NVIDIA from $240.00 to $315.00 and gave the company a “buy” rating in a research report on Friday. Mizuho restated a “buy” rating and issued a $295.00 price target (up from $270.00) on shares of NVIDIA in a research report on Thursday, February 13th. Zacks Investment Research upgraded NVIDIA from a “hold” rating to a “buy” rating and set a $218.00 price target for the company in a research report on Wednesday, November 20th. UBS Group upped their price target on NVIDIA from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Friday. Finally, Raymond James upped their price target on NVIDIA from $240.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. NVIDIA currently has a consensus rating of “Buy” and an average price target of $263.29.

Shares of NVIDIA stock traded up $6.78 during mid-day trading on Tuesday, reaching $296.57. 14,712,043 shares of the stock traded hands, compared to its average volume of 8,790,597. The business has a 50-day moving average of $249.08 and a 200 day moving average of $205.86. NVIDIA has a fifty-two week low of $132.60 and a fifty-two week high of $294.97. The stock has a market capitalization of $179.18 billion, a PE ratio of 65.61, a PEG ratio of 4.28 and a beta of 2.04. The company has a quick ratio of 7.13, a current ratio of 7.67 and a debt-to-equity ratio of 0.21.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, February 13th. The computer hardware maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.22. NVIDIA had a return on equity of 26.08% and a net margin of 25.60%. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the prior year, the firm earned $0.80 earnings per share. On average, equities research analysts expect that NVIDIA will post 5.97 EPS for the current fiscal year.

In other news, Director Robert K. Burgess sold 8,000 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $230.71, for a total value of $1,845,680.00. Following the sale, the director now directly owns 13,894 shares in the company, valued at $3,205,484.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 6,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $248.13, for a total value of $1,488,780.00. Following the completion of the sale, the chief financial officer now owns 165,288 shares in the company, valued at $41,012,911.44. The disclosure for this sale can be found here. Insiders have sold 31,785 shares of company stock worth $7,199,424 over the last 90 days. 4.64% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in NVDA. Profund Advisors LLC grew its holdings in shares of NVIDIA by 69.2% during the fourth quarter. Profund Advisors LLC now owns 133,810 shares of the computer hardware maker’s stock worth $31,485,000 after purchasing an additional 54,703 shares during the last quarter. Fort Pitt Capital Group LLC grew its holdings in shares of NVIDIA by 3.6% during the fourth quarter. Fort Pitt Capital Group LLC now owns 2,572 shares of the computer hardware maker’s stock worth $605,000 after purchasing an additional 90 shares during the last quarter. Intact Investment Management Inc. grew its holdings in shares of NVIDIA by 100.0% during the fourth quarter. Intact Investment Management Inc. now owns 5,000 shares of the computer hardware maker’s stock worth $1,177,000 after purchasing an additional 2,500 shares during the last quarter. Great Lakes Retirement Inc. purchased a new position in shares of NVIDIA during the fourth quarter worth about $4,121,000. Finally, IHT Wealth Management LLC grew its holdings in shares of NVIDIA by 6.8% during the fourth quarter. IHT Wealth Management LLC now owns 8,045 shares of the computer hardware maker’s stock worth $1,893,000 after purchasing an additional 512 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

About NVIDIA

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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