NVIDIA Corporation (NVDA) Given Buy Rating at Canaccord Genuity

Canaccord Genuity reiterated their buy rating on shares of NVIDIA Corporation (NASDAQ:NVDA) in a research report released on Monday, July 17th. They currently have a $155.00 price objective on the computer hardware maker’s stock.

NVDA has been the topic of several other research reports. Goldman Sachs Group Inc restated a buy rating and set a $171.00 target price (up previously from $165.00) on shares of NVIDIA Corporation in a report on Wednesday, June 14th. Vetr cut NVIDIA Corporation from a strong-buy rating to a buy rating and set a $117.10 target price on the stock. in a report on Monday, March 20th. Zacks Investment Research cut NVIDIA Corporation from a hold rating to a sell rating in a report on Thursday, April 13th. CLSA restated an underperform rating and set a $115.00 target price on shares of NVIDIA Corporation in a report on Wednesday, May 10th. Finally, Pacific Crest restated an underweight rating and set a $90.00 target price on shares of NVIDIA Corporation in a report on Monday, May 8th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company. The stock has an average rating of Hold and a consensus price target of $134.48.

Shares of NVIDIA Corporation (NASDAQ NVDA) traded up 0.44% during midday trading on Monday, hitting $167.21. 14,727,353 shares of the company were exchanged. The firm has a market cap of $99.49 billion, a P/E ratio of 56.13 and a beta of 1.24. NVIDIA Corporation has a one year low of $57.31 and a one year high of $170.07. The company’s 50 day moving average price is $156.80 and its 200 day moving average price is $124.22.

NVIDIA Corporation (NASDAQ:NVDA) last announced its earnings results on Tuesday, May 9th. The computer hardware maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.66 by $0.16. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.91 billion. NVIDIA Corporation had a return on equity of 36.40% and a net margin of 25.95%. The business’s revenue for the quarter was up 48.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 earnings per share. Equities analysts expect that NVIDIA Corporation will post $3.10 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “[[title]]” was first posted by [[site]] and is owned by of [[site]]. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this story can be read at [[permalink]].

In other news, insider Michael Byron sold 25,507 shares of NVIDIA Corporation stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $137.09, for a total transaction of $3,496,754.63. Following the completion of the transaction, the insider now directly owns 162,706 shares in the company, valued at approximately $22,305,365.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tench Coxe sold 50,000 shares of NVIDIA Corporation stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $129.48, for a total value of $6,474,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 622,282 shares of company stock valued at $93,304,082 over the last quarter. 5.82% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of NVDA. Arete Wealth Advisors LLC increased its position in shares of NVIDIA Corporation by 0.3% in the first quarter. Arete Wealth Advisors LLC now owns 2,884 shares of the computer hardware maker’s stock valued at $314,000 after buying an additional 10 shares in the last quarter. Appleton Partners Inc. MA increased its stake in NVIDIA Corporation by 1.2% in the second quarter. Appleton Partners Inc. MA now owns 2,570 shares of the computer hardware maker’s stock valued at $372,000 after buying an additional 30 shares during the period. Miles Capital Inc. increased its stake in NVIDIA Corporation by 1.1% in the first quarter. Miles Capital Inc. now owns 3,919 shares of the computer hardware maker’s stock valued at $427,000 after buying an additional 41 shares during the period. Broderick Brian C increased its stake in NVIDIA Corporation by 0.4% in the second quarter. Broderick Brian C now owns 13,806 shares of the computer hardware maker’s stock valued at $1,996,000 after buying an additional 52 shares during the period. Finally, Savant Capital LLC increased its stake in NVIDIA Corporation by 2.7% in the first quarter. Savant Capital LLC now owns 2,270 shares of the computer hardware maker’s stock valued at $247,000 after buying an additional 60 shares during the period. Institutional investors own 68.79% of the company’s stock.

About NVIDIA Corporation

Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.