NVIDIA (NVDA) Upgraded by UBS Group to “Outperform”

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UBS Group upgraded shares of NVIDIA (NASDAQ:NVDA) from a market perform rating to an outperform rating in a research note issued to investors on Friday morning, The Fly reports.

Other analysts have also recently issued reports about the stock. Rosenblatt Securities increased their target price on shares of NVIDIA from $300.00 to $315.00 in a research note on Friday, May 11th. B. Riley increased their target price on shares of NVIDIA from $290.00 to $300.00 and gave the stock a buy rating in a research note on Friday, May 11th. Bank of America reiterated a buy rating and issued a $340.00 target price on shares of NVIDIA in a research note on Friday, May 11th. SunTrust Banks increased their target price on shares of NVIDIA to $316.00 and gave the stock a buy rating in a research note on Friday, May 11th. Finally, Citigroup increased their target price on shares of NVIDIA from $300.00 to $380.00 and gave the stock a buy rating in a research note on Friday, May 11th. Eight research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. NVIDIA has an average rating of Buy and an average target price of $281.58.

NASDAQ NVDA opened at $244.82 on Friday. NVIDIA has a 1 year low of $157.37 and a 1 year high of $269.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.82 and a current ratio of 8.54. The company has a market capitalization of $154.66 billion, a price-to-earnings ratio of 52.42, a PEG ratio of 3.51 and a beta of 1.56.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.28. NVIDIA had a net margin of 34.44% and a return on equity of 52.18%. The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same period in the prior year, the company posted $1.01 EPS. The business’s revenue for the quarter was up 40.0% compared to the same quarter last year. research analysts forecast that NVIDIA will post 7.08 EPS for the current fiscal year.

In related news, EVP Ajay K. Puri sold 4,643 shares of NVIDIA stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $266.54, for a total value of $1,237,545.22. Following the transaction, the executive vice president now owns 295,635 shares in the company, valued at approximately $78,798,552.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Harvey C. Jones sold 100,000 shares of NVIDIA stock in a transaction on Tuesday, June 26th. The stock was sold at an average price of $242.11, for a total transaction of $24,211,000.00. Following the completion of the transaction, the director now owns 31,725 shares in the company, valued at approximately $7,680,939.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,501 shares of company stock worth $63,907,635. 4.70% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of NVDA. FMR LLC grew its holdings in NVIDIA by 3.5% in the 2nd quarter. FMR LLC now owns 48,594,422 shares of the computer hardware maker’s stock worth $11,512,019,000 after acquiring an additional 1,656,748 shares during the last quarter. Janus Henderson Group PLC grew its holdings in NVIDIA by 63.7% in the 2nd quarter. Janus Henderson Group PLC now owns 4,222,049 shares of the computer hardware maker’s stock worth $1,000,199,000 after acquiring an additional 1,643,689 shares during the last quarter. Jennison Associates LLC grew its holdings in NVIDIA by 18.8% in the 2nd quarter. Jennison Associates LLC now owns 7,800,112 shares of the computer hardware maker’s stock worth $1,847,847,000 after acquiring an additional 1,234,191 shares during the last quarter. Prudential Financial Inc. grew its holdings in NVIDIA by 97.4% in the 1st quarter. Prudential Financial Inc. now owns 1,711,921 shares of the computer hardware maker’s stock worth $396,464,000 after acquiring an additional 844,514 shares during the last quarter. Finally, Summit Trail Advisors LLC grew its holdings in NVIDIA by 24,174.1% in the 1st quarter. Summit Trail Advisors LLC now owns 756,866 shares of the computer hardware maker’s stock worth $757,000 after acquiring an additional 753,748 shares during the last quarter. Institutional investors own 65.33% 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.

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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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