NVIDIA (NVDA) Cut to Sell at BidaskClub

BidaskClub cut shares of NVIDIA (NASDAQ:NVDA) from a hold rating to a sell rating in a research report report published on Wednesday, BidAskClub reports.

A number of other equities analysts have also commented on NVDA. Benchmark restated a buy rating and set a $190.00 price objective (down previously from $240.00) on shares of NVIDIA in a research note on Monday, January 28th. Cowen restated an outperform rating and set a $215.00 price objective (down previously from $265.00) on shares of NVIDIA in a research note on Monday, January 28th. Morgan Stanley lowered NVIDIA from an overweight rating to an equal weight rating and lowered their price objective for the stock from $220.00 to $148.00 in a research note on Tuesday, January 29th. UBS Group upgraded NVIDIA from a neutral rating to a buy rating and lowered their price objective for the stock from $190.00 to $180.00 in a research note on Tuesday, January 29th. Finally, Needham & Company LLC lowered NVIDIA from a buy rating to an underperform rating and set a $225.00 price objective on the stock. in a research note on Tuesday, January 29th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-five have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $198.93.

Shares of NASDAQ NVDA opened at $145.15 on Wednesday. The company has a market cap of $88.40 billion, a PE ratio of 23.91, a PEG ratio of 3.93 and a beta of 1.85. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.78 and a current ratio of 8.98. NVIDIA has a 1-year low of $124.46 and a 1-year high of $292.76.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, May 16th. The computer hardware maker reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.07. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. NVIDIA had a return on equity of 31.27% and a net margin of 30.68%. The firm’s quarterly revenue was down 30.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 earnings per share. Equities research analysts predict that NVIDIA will post 4.21 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 31st will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Thursday, May 30th. NVIDIA’s dividend payout ratio is presently 10.54%.

In other NVIDIA news, CFO Colette Kress sold 14,092 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $183.33, for a total value of $2,583,486.36. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Debora Shoquist sold 5,823 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $185.00, for a total value of $1,077,255.00. Following the completion of the sale, the executive vice president now directly owns 171,783 shares in the company, valued at approximately $31,779,855. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,029 shares of company stock worth $3,678,385. Company insiders own 4.64% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TD Capital Management LLC acquired a new stake in shares of NVIDIA during the 4th quarter valued at $27,000. Swedbank boosted its holdings in shares of NVIDIA by 50.4% during the 4th quarter. Swedbank now owns 2,547,600 shares of the computer hardware maker’s stock valued at $340,487,000 after acquiring an additional 854,050 shares in the last quarter. Norges Bank acquired a new stake in shares of NVIDIA during the 4th quarter valued at $737,230,000. Girard Partners LTD. boosted its holdings in shares of NVIDIA by 25.1% during the 4th quarter. Girard Partners LTD. now owns 2,300 shares of the computer hardware maker’s stock valued at $307,000 after acquiring an additional 461 shares in the last quarter. Finally, ACG Wealth boosted its holdings in shares of NVIDIA by 5.5% during the 1st quarter. ACG Wealth now owns 30,488 shares of the computer hardware maker’s stock valued at $5,474,000 after acquiring an additional 1,600 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

About NVIDIA

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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.

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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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