New Street Research Lowers NVIDIA (NASDAQ:NVDA) to Neutral

NVIDIA (NASDAQ:NVDA) was downgraded by equities researchers at New Street Research from a “buy” rating to a “neutral” rating in a research report issued on Friday, MarketBeat.com reports.

A number of other equities research analysts also recently commented on the company. Stifel Nicolaus lifted their target price on NVIDIA from $91.00 to $108.50 and gave the company a “buy” rating in a research report on Monday, May 20th. Mizuho lifted their target price on NVIDIA from $118.00 to $127.50 and gave the company a “buy” rating in a research report on Tuesday, June 4th. UBS Group boosted their price objective on NVIDIA from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Cantor Fitzgerald boosted their price objective on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Finally, HSBC boosted their price objective on NVIDIA from $105.00 to $135.00 and gave the company a “buy” rating in a report on Friday, May 10th. Six research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.34.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $128.28 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14. The business’s 50 day moving average price is $109.83 and its 200-day moving average price is $85.39. The firm has a market capitalization of $3.16 trillion, a PE ratio of 75.02, a P/E/G ratio of 1.35 and a beta of 1.68. NVIDIA has a 1 year low of $39.23 and a 1 year high of $140.76.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. The company had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The firm’s revenue for the quarter was up 262.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. As a group, equities research analysts expect that NVIDIA will post 2.53 earnings per share for the current fiscal year.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 166,700 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $119.91, for a total transaction of $19,988,330.20. Following the completion of the sale, the director now directly owns 9,996,240 shares of the company’s stock, valued at approximately $1,198,609,153.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Mark A. Stevens sold 166,700 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $119.91, for a total value of $19,988,330.20. Following the completion of the sale, the director now directly owns 9,996,240 shares of the company’s stock, valued at approximately $1,198,609,153.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dawn E. Hudson sold 150,000 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $105.92, for a total value of $15,888,000.00. Following the transaction, the director now directly owns 555,000 shares in the company, valued at approximately $58,785,600. The disclosure for this sale can be found here. Insiders sold a total of 1,879,590 shares of company stock valued at $334,080,785 in the last ninety days. Insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Institutional investors have recently added to or reduced their stakes in the stock. Baader Bank Aktiengesellschaft increased its stake in NVIDIA by 34.9% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 44,214 shares of the computer hardware maker’s stock valued at $21,896,000 after purchasing an additional 11,445 shares in the last quarter. Wealthspire Advisors LLC increased its stake in NVIDIA by 16.3% in the 4th quarter. Wealthspire Advisors LLC now owns 12,278 shares of the computer hardware maker’s stock valued at $6,080,000 after purchasing an additional 1,724 shares in the last quarter. Shared Vision Wealth Group LLC purchased a new position in NVIDIA in the 4th quarter valued at approximately $269,000. Grand Alliance Asset Management Ltd purchased a new position in NVIDIA in the 4th quarter valued at approximately $29,961,000. Finally, OMNI 360 Wealth Inc. purchased a new position in NVIDIA in the 4th quarter valued at approximately $240,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The 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; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.