NVIDIA (NASDAQ:NVDA) Downgraded to Sell at StockNews.com

NVIDIA (NASDAQ:NVDAGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley lowered their target price on shares of NVIDIA from $217.00 to $182.00 and set an “equal weight” rating on the stock in a report on Thursday, May 26th. Craig Hallum reduced their price objective on shares of NVIDIA from $180.00 to $165.00 and set a “hold” rating for the company in a research report on Thursday, August 25th. Raymond James reduced their price objective on shares of NVIDIA from $240.00 to $210.00 in a research report on Thursday, August 25th. Wells Fargo & Company reduced their price objective on shares of NVIDIA from $370.00 to $250.00 and set an “overweight” rating for the company in a research report on Friday, May 20th. Finally, Cowen reduced their target price on shares of NVIDIA from $350.00 to $265.00 and set an “outperform” rating for the company in a research report on Thursday, May 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $217.26.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $145.05 on Tuesday. The company has a current ratio of 3.62, a quick ratio of 3.11 and a debt-to-equity ratio of 0.41. NVIDIA has a 1-year low of $132.70 and a 1-year high of $346.47. The firm has a market capitalization of $361.17 billion, a P/E ratio of 47.56, a P/E/G ratio of 4.73 and a beta of 1.69. The firm’s 50-day moving average price is $166.39 and its 200-day moving average price is $191.49.

NVIDIA (NASDAQ:NVDAGet Rating) last posted its earnings results on Wednesday, August 24th. The computer hardware maker reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). NVIDIA had a return on equity of 36.83% and a net margin of 26.03%. The business had revenue of $6.70 billion during the quarter, compared to analyst estimates of $6.70 billion. During the same quarter in the prior year, the company earned $0.89 EPS. The company’s revenue was up 3.0% on a year-over-year basis. Equities research analysts anticipate that NVIDIA will post 2.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NVIDIA

Large investors have recently added to or reduced their stakes in the business. B. Riley Wealth Management Inc. grew its holdings in NVIDIA by 30.5% in the 2nd quarter. B. Riley Wealth Management Inc. now owns 55,295 shares of the computer hardware maker’s stock worth $31,098,000 after acquiring an additional 12,918 shares during the last quarter. Royal London Asset Management Ltd. grew its holdings in NVIDIA by 7.5% in the 2nd quarter. Royal London Asset Management Ltd. now owns 2,272,715 shares of the computer hardware maker’s stock worth $344,612,000 after acquiring an additional 158,264 shares during the last quarter. Amundi grew its holdings in NVIDIA by 11.0% in the 2nd quarter. Amundi now owns 9,819,084 shares of the computer hardware maker’s stock worth $1,508,957,000 after acquiring an additional 976,365 shares during the last quarter. Verition Fund Management LLC grew its holdings in NVIDIA by 317.3% in the 2nd quarter. Verition Fund Management LLC now owns 60,792 shares of the computer hardware maker’s stock worth $9,215,000 after acquiring an additional 88,766 shares during the last quarter. Finally, Raleigh Capital Management Inc. grew its holdings in NVIDIA by 197.6% in the 2nd quarter. Raleigh Capital Management Inc. now owns 366 shares of the computer hardware maker’s stock worth $56,000 after acquiring an additional 243 shares during the last quarter. Hedge funds and other institutional investors own 62.58% of the company’s stock.

About NVIDIA

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NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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