Bank of America reaffirmed their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a research note published on Friday, MarketBeat reports. Bank of America currently has a $275.00 price target on the computer hardware maker’s stock, up from their previous price target of $251.00.
Other equities research analysts also recently issued research reports about the company. BidaskClub upgraded NVIDIA from a buy rating to a strong-buy rating in a research report on Thursday, January 11th. Sanford C. Bernstein reiterated an outperform rating on shares of NVIDIA in a research report on Saturday, September 23rd. SunTrust Banks restated a buy rating and set a $200.00 price target (up previously from $181.00) on shares of NVIDIA in a research report on Monday, October 2nd. Craig Hallum restated a buy rating and set a $200.00 price target on shares of NVIDIA in a research report on Saturday, September 23rd. Finally, Citigroup restated a buy rating and set a $240.00 price target on shares of NVIDIA in a research report on Friday, November 10th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. NVIDIA currently has a consensus rating of Buy and an average target price of $193.10.
Shares of NVIDIA (NASDAQ NVDA) traded up $5.67 during mid-day trading on Friday, hitting $230.11. The company had a trading volume of 14,544,968 shares, compared to its average volume of 12,390,000. The company has a quick ratio of 7.42, a current ratio of 8.26 and a debt-to-equity ratio of 0.31. NVIDIA has a one year low of $95.17 and a one year high of $231.09. The stock has a market capitalization of $142,970.00, a P/E ratio of 57.53, a PEG ratio of 5.23 and a beta of 1.18.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.39. NVIDIA had a return on equity of 42.71% and a net margin of 28.78%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the business posted $0.94 earnings per share. The firm’s revenue was up 31.5% compared to the same quarter last year. sell-side analysts predict that NVIDIA will post 4.19 earnings per share for the current fiscal year.
In other news, Director Persis Drell sold 606 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $197.07, for a total transaction of $119,424.42. Following the transaction, the director now directly owns 26,104 shares of the company’s stock, valued at $5,144,315.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 171 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $185.57, for a total value of $31,732.47. The disclosure for this sale can be found here. Insiders have sold 19,858 shares of company stock worth $4,227,384 over the last ninety days. Insiders own 5.82% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Plancorp LLC grew its stake in shares of NVIDIA by 21.6% in the fourth quarter. Plancorp LLC now owns 2,335 shares of the computer hardware maker’s stock worth $452,000 after purchasing an additional 415 shares during the last quarter. V Wealth Management LLC grew its stake in shares of NVIDIA by 16.4% in the fourth quarter. V Wealth Management LLC now owns 1,720 shares of the computer hardware maker’s stock worth $380,000 after purchasing an additional 242 shares during the last quarter. TRUE Private Wealth Advisors grew its stake in shares of NVIDIA by 691.6% in the fourth quarter. TRUE Private Wealth Advisors now owns 9,840 shares of the computer hardware maker’s stock worth $1,904,000 after purchasing an additional 8,597 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of NVIDIA by 1,020.4% in the fourth quarter. State of Alaska Department of Revenue now owns 59,424 shares of the computer hardware maker’s stock worth $11,496,000 after purchasing an additional 54,120 shares during the last quarter. Finally, Oakbrook Investments LLC grew its stake in shares of NVIDIA by 16.6% in the fourth quarter. Oakbrook Investments LLC now owns 40,485 shares of the computer hardware maker’s stock worth $7,834,000 after purchasing an additional 5,760 shares during the last quarter. 63.40% of the stock is currently owned by institutional investors.
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NVIDIA 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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