NVIDIA (NVDA) Receives “Overweight” Rating from Morgan Stanley

Morgan Stanley reissued their overweight rating on shares of NVIDIA (NASDAQ:NVDA) in a research report released on Friday. They currently have a $273.00 price objective on the computer hardware maker’s stock.

A number of other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. restated a neutral rating and issued a $265.00 price objective on shares of NVIDIA in a research note on Friday. Cowen lowered their price objective on NVIDIA from $325.00 to $320.00 and set an outperform rating on the stock in a research note on Friday. Oppenheimer upgraded NVIDIA from a market perform rating to an outperform rating and set a $310.00 price objective on the stock in a research note on Friday. Stifel Nicolaus restated a hold rating and issued a $250.00 price objective (up from $243.00) on shares of NVIDIA in a research note on Friday. Finally, UBS Group upgraded NVIDIA from a market perform rating to an outperform rating in a research note on Friday. Eight analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. NVIDIA has an average rating of Buy and a consensus target price of $281.58.

NVIDIA stock traded down $12.62 during midday trading on Friday, reaching $244.82. The stock had a trading volume of 28,533,931 shares, compared to its average volume of 13,216,377. NVIDIA has a 12 month low of $157.37 and a 12 month high of $269.20. The stock has a market capitalization of $154.66 billion, a P/E ratio of 52.42, a P/E/G ratio of 3.51 and a beta of 1.56. 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 (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, August 16th. The computer hardware maker reported $1.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.28. NVIDIA had a return on equity of 52.18% and a net margin of 34.44%. The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same period in the previous year, the business posted $1.01 EPS. The firm’s quarterly revenue was up 40.0% compared to the same quarter last year. equities research analysts forecast that NVIDIA will post 7.08 EPS for the current fiscal year.

In other NVIDIA news, insider Michael Byron sold 15,131 shares of the company’s stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $245.02, for a total value of $3,707,397.62. Following the completion of the sale, the insider now owns 92,285 shares of the company’s stock, valued at $22,611,670.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 889 shares of the company’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 value of $229,041.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 269,632 shares of company stock worth $67,615,033. 4.70% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Broderick Brian C boosted its stake in shares of NVIDIA by 5.8% during the second quarter. Broderick Brian C now owns 9,931 shares of the computer hardware maker’s stock valued at $2,353,000 after purchasing an additional 546 shares during the period. Arrow Financial Corp lifted its stake in NVIDIA by 8.3% in the second quarter. Arrow Financial Corp now owns 11,652 shares of the computer hardware maker’s stock worth $2,762,000 after acquiring an additional 890 shares during the period. Nvwm LLC lifted its stake in NVIDIA by 38.4% in the second quarter. Nvwm LLC now owns 8,907 shares of the computer hardware maker’s stock worth $2,110,000 after acquiring an additional 2,473 shares during the period. Brown Advisory Inc. lifted its stake in NVIDIA by 152.5% in the first quarter. Brown Advisory Inc. now owns 7,473 shares of the computer hardware maker’s stock worth $1,730,000 after acquiring an additional 4,513 shares during the period. Finally, Sit Investment Associates Inc. lifted its stake in NVIDIA by 2.9% in the second quarter. Sit Investment Associates Inc. now owns 25,365 shares of the computer hardware maker’s stock worth $6,009,000 after acquiring an additional 725 shares during the period. 65.33% of the stock is owned by institutional investors and hedge funds.

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.

See Also: Earnings Per Share (EPS) Explained

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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