NVIDIA (NVDA) Downgraded by ValuEngine to Hold

ValuEngine cut shares of NVIDIA (NASDAQ:NVDA) from a buy rating to a hold rating in a research report report published on Friday.

Other research analysts have also issued reports about the company. Benchmark initiated coverage on NVIDIA in a report on Tuesday, June 26th. They set a buy rating and a $280.00 price target on the stock. BidaskClub lowered NVIDIA from a strong-buy rating to a buy rating in a report on Tuesday, June 26th. Goldman Sachs Group raised their price target on NVIDIA from $310.00 to $324.00 and gave the company a buy rating in a report on Tuesday, August 7th. Needham & Company LLC raised their price target on NVIDIA from $325.00 to $350.00 and gave the company a buy rating in a report on Friday, September 14th. Finally, Bank of America raised their price target on NVIDIA from $340.00 to $360.00 and gave the company a buy rating in a report on Tuesday, September 25th. Ten equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $293.09.

NVDA stock traded up $11.41 during mid-day trading on Friday, reaching $246.54. The company had a trading volume of 15,113,097 shares, compared to its average volume of 12,731,036. The stock has a market capitalization of $170.86 billion, a price-to-earnings ratio of 52.79, a PEG ratio of 3.68 and a beta of 1.64. The company has a debt-to-equity ratio of 0.23, a quick ratio of 6.66 and a current ratio of 7.41. NVIDIA has a one year low of $180.58 and a one year high of $292.76.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.28. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.11 billion. NVIDIA had a return on equity of 54.18% and a net margin of 36.21%. The company’s quarterly revenue was up 40.0% compared to the same quarter last year. During the same period last year, the company earned $1.01 earnings per share. As a group, analysts predict that NVIDIA will post 7.15 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Thursday, August 30th were paid a $0.15 dividend. The ex-dividend date was Wednesday, August 29th. This represents a $0.60 dividend on an annualized basis and a yield of 0.24%. NVIDIA’s dividend payout ratio is currently 12.85%.

In other NVIDIA news, CFO Colette Kress sold 11,576 shares of the firm’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $266.31, for a total transaction of $3,082,804.56. Following the completion of the sale, the chief financial officer now directly owns 297,482 shares in the company, valued at approximately $79,222,431.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Byron sold 11,257 shares of the firm’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $263.94, for a total value of $2,971,172.58. Following the sale, the insider now owns 81,414 shares of the company’s stock, valued at $21,488,411.16. The disclosure for this sale can be found here. Insiders sold a total of 113,707 shares of company stock worth $32,347,973 in the last three months. 4.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Holderness Investments Co. lifted its stake in NVIDIA by 3.2% in the 2nd quarter. Holderness Investments Co. now owns 6,481 shares of the computer hardware maker’s stock worth $1,535,000 after purchasing an additional 200 shares in the last quarter. Grimes & Company Inc. lifted its stake in NVIDIA by 9.0% in the 2nd quarter. Grimes & Company Inc. now owns 2,480 shares of the computer hardware maker’s stock worth $588,000 after purchasing an additional 205 shares in the last quarter. Charter Trust Co. lifted its stake in NVIDIA by 4.9% in the 2nd quarter. Charter Trust Co. now owns 4,471 shares of the computer hardware maker’s stock worth $1,059,000 after purchasing an additional 207 shares in the last quarter. Concorde Asset Management LLC lifted its stake in NVIDIA by 16.3% in the 2nd quarter. Concorde Asset Management LLC now owns 1,481 shares of the computer hardware maker’s stock worth $351,000 after purchasing an additional 208 shares in the last quarter. Finally, LVW Advisors LLC lifted its stake in NVIDIA by 11.7% in the 2nd quarter. LVW Advisors LLC now owns 2,010 shares of the computer hardware maker’s stock worth $476,000 after purchasing an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 65.69% of the company’s stock.

About NVIDIA

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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