NVIDIA (NASDAQ:NVDA) Given Buy Rating at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a research note released on Thursday, Benzinga reports. Rosenblatt Securities currently has a $200.00 price objective on the computer hardware maker’s stock.

NVDA has been the subject of several other reports. StockNews.com cut NVIDIA from a strong-buy rating to a hold rating in a research note on Tuesday, June 18th. Tigress Financial increased their target price on NVIDIA from $98.50 to $170.00 and gave the stock a buy rating in a report on Tuesday, June 18th. Truist Financial restated a buy rating and issued a $140.00 price target (up previously from $128.80) on shares of NVIDIA in a research report on Thursday, June 27th. Bank of America increased their price objective on shares of NVIDIA from $132.00 to $150.00 and gave the stock a buy rating in a research note on Monday, June 3rd. Finally, UBS Group boosted their target price on shares of NVIDIA from $120.00 to $150.00 and gave the company a buy rating in a research report on Monday, July 8th. Five research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA has a consensus rating of Moderate Buy and an average target price of $131.55.

NVIDIA Stock Down 3.7 %

NVDA stock opened at $123.74 on Thursday. NVIDIA has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. 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 stock has a market capitalization of $3.04 trillion, a price-to-earnings ratio of 72.36, a PEG ratio of 1.15 and a beta of 1.68. The business’s fifty day moving average price is $121.00 and its two-hundred day moving average price is $100.87.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. The business had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. NVIDIA’s revenue for the quarter was up 262.1% compared to the same quarter last year. During the same period last year, the firm earned $0.09 earnings per share. On average, equities analysts anticipate that NVIDIA will post 2.53 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Tench Coxe sold 100,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the transaction, the director now owns 2,967,136 shares of the company’s stock, valued at approximately $3,544,451,651.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $104.83, for a total value of $12,579,600.00. Following the completion of the transaction, the chief executive officer now owns 76,614,995 shares in the company, valued at approximately $8,031,549,925.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 100,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total value of $119,457,000.00. Following the sale, the director now owns 2,967,136 shares in the company, valued at $3,544,451,651.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,170,723 shares of company stock valued at $616,106,141. 4.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Several hedge funds have recently bought and sold shares of the company. Legal & General Group Plc boosted its stake in NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after buying an additional 191,469,114 shares during the period. Bank of New York Mellon Corp boosted its position in shares of NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after acquiring an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after purchasing an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in NVIDIA by 808.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after purchasing an additional 73,589,208 shares in the last quarter. 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.