NVIDIA (NVDA) Stock Rating Reaffirmed by B. Riley
B. Riley reissued their neutral rating on shares of NVIDIA (NASDAQ:NVDA) in a report released on Friday, November 16th, MarketBeat reports. They currently have a $190.00 price objective on the computer hardware maker’s stock, down from their prior price objective of $240.00.
A number of other equities analysts have also recently issued reports on the stock. BidaskClub upgraded shares of NVIDIA from a buy rating to a strong-buy rating in a research note on Saturday, August 25th. Benchmark reiterated a buy rating and issued a $310.00 price target (up previously from $280.00) on shares of NVIDIA in a research note on Thursday, September 20th. Needham & Company LLC upped their price target on shares of NVIDIA from $325.00 to $350.00 and gave the stock a buy rating in a research note on Friday, September 14th. Tigress Financial reiterated a buy rating on shares of NVIDIA in a research note on Friday, October 5th. Finally, Evercore ISI upped their price target on shares of NVIDIA from $300.00 to $400.00 and gave the stock an outperform rating in a research note on Friday, September 28th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-six have issued a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $257.76.
NVIDIA stock traded down $10.68 during mid-day trading on Friday, reaching $147.61. 17,019,050 shares of the company traded hands, compared to its average volume of 19,830,058. The company has a current ratio of 7.08, a quick ratio of 6.20 and a debt-to-equity ratio of 0.21. The company has a market cap of $96.56 billion, a P/E ratio of 31.61, a PEG ratio of 2.30 and a beta of 1.97. NVIDIA has a 52-week low of $133.31 and a 52-week high of $292.76.
In related news, insider Michael Byron sold 11,257 shares of the stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $263.94, for a total value of $2,971,172.58. Following the completion of the sale, the insider now directly owns 81,414 shares of the company’s stock, valued at approximately $21,488,411.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 11,576 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $79,222,431.42. The disclosure for this sale can be found here. Insiders have sold a total of 113,664 shares of company stock valued at $32,335,927 in the last ninety days. Insiders own 4.70% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Broderick Brian C grew its holdings in NVIDIA by 5.8% during the 2nd quarter. Broderick Brian C now owns 9,931 shares of the computer hardware maker’s stock valued at $2,353,000 after buying an additional 546 shares in the last quarter. Arrow Financial Corp boosted its position in shares of NVIDIA by 8.3% during the 2nd quarter. Arrow Financial Corp now owns 11,652 shares of the computer hardware maker’s stock valued at $2,762,000 after acquiring an additional 890 shares during the last quarter. Nvwm LLC boosted its position in shares of NVIDIA by 38.4% during the 2nd quarter. Nvwm LLC now owns 8,907 shares of the computer hardware maker’s stock valued at $2,110,000 after acquiring an additional 2,473 shares during the last quarter. Boston Family Office LLC boosted its position in shares of NVIDIA by 141.7% during the 3rd quarter. Boston Family Office LLC now owns 2,175 shares of the computer hardware maker’s stock valued at $611,000 after acquiring an additional 1,275 shares during the last quarter. Finally, Whittier Trust Co. boosted its position in shares of NVIDIA by 18.3% during the 3rd quarter. Whittier Trust Co. now owns 29,872 shares of the computer hardware maker’s stock valued at $8,394,000 after acquiring an additional 4,616 shares during the last quarter. 67.56% 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.
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