NVIDIA (NVDA) Earns Outperform Rating from Oppenheimer

Oppenheimer reissued their outperform rating on shares of NVIDIA (NASDAQ:NVDA) in a research note released on Wednesday morning, The Fly reports. Oppenheimer currently has a $250.00 price objective on the computer hardware maker’s stock.

NVDA has been the topic of a number of other reports. Argus reiterated a buy rating and issued a $300.00 price target on shares of NVIDIA in a report on Friday, October 12th. Goldman Sachs Group upgraded NVIDIA from a buy rating to a conviction-buy rating and dropped their target price for the stock from $324.00 to $305.00 in a research note on Thursday, October 18th. Evercore ISI boosted their target price on NVIDIA from $300.00 to $400.00 and gave the stock an outperform rating in a research note on Friday, September 28th. Nomura dropped their target price on NVIDIA from $225.00 to $200.00 and set a neutral rating on the stock in a research note on Friday, November 16th. Finally, Zacks Investment Research downgraded NVIDIA from a hold rating to a strong sell rating in a research note on Wednesday, November 21st. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-six have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $255.94.

Shares of NASDAQ:NVDA traded up $3.60 on Wednesday, reaching $148.83. The company had a trading volume of 21,849,883 shares, compared to its average volume of 16,593,033. NVIDIA has a 52-week low of $124.46 and a 52-week high of $292.76. The company has a market capitalization of $86.97 billion, a PE ratio of 31.87, a P/E/G ratio of 2.07 and a beta of 2.05. The company has a current ratio of 7.08, a quick ratio of 6.20 and a debt-to-equity ratio of 0.21.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, November 15th. The computer hardware maker reported $1.67 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($0.06). NVIDIA had a net margin of 37.78% and a return on equity of 51.60%. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Research analysts predict that NVIDIA will post 6.45 EPS for the current year.

In other NVIDIA news, CFO Colette Kress sold 889 shares of the business’s stock in a transaction that occurred on Friday, December 14th. The stock was sold at an average price of $147.91, for a total transaction of $131,491.99. Following the completion of the sale, the chief financial officer now directly owns 259,912 shares in the company, valued at approximately $38,443,583.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Debora Shoquist sold 6,345 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $135.33, for a total value of $858,668.85. Following the sale, the executive vice president now owns 177,911 shares of the company’s stock, valued at $24,076,695.63. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the business. Polen Capital Management LLC purchased a new stake in shares of NVIDIA in the third quarter valued at approximately $703,155,000. SG Americas Securities LLC grew its position in shares of NVIDIA by 104.9% in the third quarter. SG Americas Securities LLC now owns 105,055 shares of the computer hardware maker’s stock valued at $29,523,000 after purchasing an additional 2,227,433 shares in the last quarter. Vanguard Group Inc. grew its position in shares of NVIDIA by 4.0% in the third quarter. Vanguard Group Inc. now owns 44,464,641 shares of the computer hardware maker’s stock valued at $12,495,455,000 after purchasing an additional 1,693,736 shares in the last quarter. Vanguard Group Inc grew its position in shares of NVIDIA by 4.0% in the third quarter. Vanguard Group Inc now owns 44,464,641 shares of the computer hardware maker’s stock valued at $12,495,455,000 after purchasing an additional 1,693,736 shares in the last quarter. Finally, FMR LLC grew its position in shares of NVIDIA by 3.5% in the second quarter. FMR LLC now owns 48,594,422 shares of the computer hardware maker’s stock valued at $11,512,019,000 after purchasing an additional 1,656,748 shares in the last quarter. Institutional investors own 67.47% of the company’s stock.

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.

Further Reading: Leveraged Buyout (LBO)

The Fly

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