NVIDIA (NVDA) PT Lowered to $260.00

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NVIDIA (NASDAQ:NVDA) had its target price lowered by analysts at Morgan Stanley from $273.00 to $260.00 in a research report issued on Thursday, The Fly reports. The firm presently has an “overweight” rating on the computer hardware maker’s stock. Morgan Stanley’s price objective points to a potential upside of 26.42% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Goldman Sachs Group upgraded shares of NVIDIA from a “buy” rating to a “conviction-buy” rating and dropped their price target for the stock from $324.00 to $305.00 in a research note on Thursday, October 18th. 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. Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a research note on Friday, October 5th. 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. Finally, UBS Group upgraded shares of NVIDIA from a “market perform” rating to an “outperform” rating in a research note on Friday, August 17th. Eleven investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $289.82.

Shares of NVDA stock opened at $205.67 on Thursday. NVIDIA has a 12 month low of $176.01 and a 12 month high of $292.76. The firm has a market cap of $129.98 billion, a PE ratio of 44.04, a price-to-earnings-growth ratio of 2.80 and a beta of 2.01. The company has a current ratio of 7.41, a quick ratio of 6.66 and a debt-to-equity ratio of 0.23.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 EPS for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.28. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.11 billion. NVIDIA had a net margin of 36.21% and a return on equity of 54.18%. The company’s quarterly revenue was up 40.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.01 EPS. As a group, analysts expect that NVIDIA will post 7.15 earnings per share for the current year.

In other NVIDIA news, insider Michael Byron sold 11,257 shares of the business’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 completion of the transaction, the insider now owns 81,414 shares of the company’s stock, valued at approximately $21,488,411.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ajay K. Puri sold 90,831 shares of the business’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $289.35, for a total value of $26,281,949.85. Following the completion of the transaction, the executive vice president now directly owns 184,001 shares of the company’s stock, valued at approximately $53,240,689.35. The disclosure for this sale can be found here. In the last three months, insiders sold 113,707 shares of company stock valued at $32,347,973. 4.70% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of NVIDIA by 1.5% during the 3rd quarter. FMR LLC now owns 49,322,285 shares of the computer hardware maker’s stock valued at $13,860,548,000 after purchasing an additional 727,863 shares during the last quarter. BlackRock Inc. increased its position in shares of NVIDIA by 0.9% during the 3rd quarter. BlackRock Inc. now owns 38,929,045 shares of the computer hardware maker’s stock valued at $10,939,840,000 after purchasing an additional 366,217 shares during the last quarter. Jennison Associates LLC increased its position in shares of NVIDIA by 10.9% during the 3rd quarter. Jennison Associates LLC now owns 8,650,557 shares of the computer hardware maker’s stock valued at $2,430,980,000 after purchasing an additional 850,445 shares during the last quarter. Edgewood Management LLC increased its position in shares of NVIDIA by 2.5% during the 2nd quarter. Edgewood Management LLC now owns 5,021,345 shares of the computer hardware maker’s stock valued at $1,189,557,000 after purchasing an additional 123,650 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of NVIDIA by 4.2% during the 3rd quarter. Janus Henderson Group PLC now owns 4,399,168 shares of the computer hardware maker’s stock valued at $1,236,335,000 after purchasing an additional 177,119 shares during the last quarter. 65.71% of the stock is owned by hedge funds and other institutional investors.

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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