NVIDIA (NASDAQ:NVDA) Stock Rating Upgraded by Summit Insights

NVIDIA (NASDAQ:NVDAGet Rating) was upgraded by equities researchers at Summit Insights from a “hold” rating to a “buy” rating in a research report issued on Wednesday, MarketBeat.com reports.

Several other equities analysts have also recently weighed in on the company. Benchmark dropped their price objective on NVIDIA from $228.00 to $215.00 and set a “buy” rating on the stock in a research note on Thursday, August 25th. Susquehanna cut their target price on NVIDIA from $200.00 to $190.00 and set a “positive” rating for the company in a research note on Wednesday, September 21st. Raymond James cut their target price on NVIDIA from $240.00 to $210.00 in a research note on Thursday, August 25th. TheStreet downgraded NVIDIA from a “b-” rating to a “c+” rating in a research report on Thursday, September 15th. Finally, Craig Hallum dropped their target price on NVIDIA from $180.00 to $165.00 and set a “hold” rating for the company in a research report on Thursday, August 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $210.21.

NVIDIA Stock Performance

NVIDIA stock opened at $156.77 on Wednesday. The business has a 50 day moving average of $132.68 and a 200-day moving average of $157.02. NVIDIA has a 1 year low of $108.13 and a 1 year high of $346.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.62 and a quick ratio of 3.11. The company has a market capitalization of $390.36 billion, a P/E ratio of 51.40, a P/E/G ratio of 5.57 and a beta of 1.70.

NVIDIA (NASDAQ:NVDAGet Rating) last released its earnings results on Wednesday, November 16th. The computer hardware maker reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.13). The firm had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.82 billion. NVIDIA had a net margin of 26.03% and a return on equity of 36.83%. The business’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.01 EPS. On average, equities research analysts predict that NVIDIA will post 2.44 earnings per share for the current year.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 87,500 shares of the business’s stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $119.65, for a total value of $10,469,375.00. Following the transaction, the director now owns 2,310,193 shares in the company, valued at approximately $276,414,592.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other NVIDIA news, Director Mark A. Stevens sold 85,000 shares of the company’s stock in a transaction dated Tuesday, October 11th. The shares were sold at an average price of $116.49, for a total value of $9,901,650.00. Following the completion of the transaction, the director now owns 2,397,693 shares in the company, valued at approximately $279,307,257.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 87,500 shares of the company’s stock in a transaction dated Thursday, October 13th. The stock was sold at an average price of $119.65, for a total transaction of $10,469,375.00. Following the completion of the transaction, the director now owns 2,310,193 shares of the company’s stock, valued at approximately $276,414,592.45. The disclosure for this sale can be found here. Company insiders own 4.04% of the company’s stock.

Institutional Trading of NVIDIA

A number of institutional investors have recently made changes to their positions in the stock. Opes Wealth Management LLC grew its holdings in shares of NVIDIA by 1.8% in the first quarter. Opes Wealth Management LLC now owns 2,889 shares of the computer hardware maker’s stock valued at $788,000 after purchasing an additional 50 shares in the last quarter. Tortoise Investment Management LLC increased its stake in shares of NVIDIA by 40.8% during the second quarter. Tortoise Investment Management LLC now owns 183 shares of the computer hardware maker’s stock valued at $28,000 after buying an additional 53 shares during the period. Blue Bell Private Wealth Management LLC increased its stake in shares of NVIDIA by 7.0% during the second quarter. Blue Bell Private Wealth Management LLC now owns 846 shares of the computer hardware maker’s stock valued at $128,000 after buying an additional 55 shares during the period. Gould Capital LLC increased its stake in shares of NVIDIA by 24.1% during the second quarter. Gould Capital LLC now owns 283 shares of the computer hardware maker’s stock valued at $43,000 after buying an additional 55 shares during the period. Finally, Beaumont Asset Management L.L.C. increased its stake in shares of NVIDIA by 1.8% during the first quarter. Beaumont Asset Management L.L.C. now owns 3,191 shares of the computer hardware maker’s stock valued at $870,000 after buying an additional 56 shares during the period. 62.58% of the stock is owned by institutional investors and hedge funds.

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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