NVIDIA (NVDA) Upgraded to Outperform at Wells Fargo & Co

Wells Fargo & Co upgraded shares of NVIDIA (NASDAQ:NVDA) from an underperform rating to an outperform rating in a research report report published on Tuesday morning, The Fly reports.

Several other analysts also recently commented on the stock. BidaskClub upgraded shares of NVIDIA from a buy rating to a strong-buy rating in a research report on Thursday, April 19th. Barclays upgraded shares of NVIDIA from an equal weight rating to an overweight rating and upped their price target for the company from $265.00 to $280.00 in a research report on Thursday, May 3rd. Deutsche Bank upped their price target on shares of NVIDIA from $230.00 to $240.00 and gave the company a hold rating in a research report on Tuesday, May 8th. Mizuho upped their price target on shares of NVIDIA to $280.00 and gave the company a buy rating in a research report on Friday, May 11th. Finally, Morgan Stanley reiterated an overweight rating and issued a $273.00 price target on shares of NVIDIA in a research report on Friday, May 11th. Nine equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $279.20.

Shares of NVIDIA stock opened at $261.43 on Tuesday. NVIDIA has a 12-month low of $157.37 and a 12-month high of $269.20. The company has a quick ratio of 7.82, a current ratio of 8.54 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $154.66 billion, a PE ratio of 55.98, a P/E/G ratio of 3.51 and a beta of 1.56.



In other NVIDIA news, CFO Colette Kress sold 889 shares of the company’s stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $257.64, for a total transaction of $229,041.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 4,643 shares of the company’s stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $266.54, for a total transaction of $1,237,545.22. Following the transaction, the executive vice president now owns 295,635 shares of the company’s stock, valued at approximately $78,798,552.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 269,632 shares of company stock valued at $67,615,033. 4.70% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Broderick Brian C increased its holdings in shares of NVIDIA by 5.8% in the 2nd quarter. Broderick Brian C now owns 9,931 shares of the computer hardware maker’s stock valued at $2,353,000 after purchasing an additional 546 shares in the last quarter. Arrow Financial Corp increased its holdings in shares of NVIDIA by 8.3% in the 2nd quarter. Arrow Financial Corp now owns 11,652 shares of the computer hardware maker’s stock valued at $2,762,000 after purchasing an additional 890 shares in the last quarter. Nvwm LLC increased its holdings in shares of NVIDIA by 38.4% in the 2nd quarter. Nvwm LLC now owns 8,907 shares of the computer hardware maker’s stock valued at $2,110,000 after purchasing an additional 2,473 shares in the last quarter. Brown Advisory Inc. increased its holdings in shares of NVIDIA by 152.5% in the 1st quarter. Brown Advisory Inc. now owns 7,473 shares of the computer hardware maker’s stock valued at $1,730,000 after purchasing an additional 4,513 shares in the last quarter. Finally, Sit Investment Associates Inc. increased its holdings in shares of NVIDIA by 2.9% in the 2nd quarter. Sit Investment Associates Inc. now owns 25,365 shares of the computer hardware maker’s stock valued at $6,009,000 after purchasing an additional 725 shares in 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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