NVIDIA (NASDAQ:NVDA) Raised to Buy at Cascend Securities

Cascend Securities upgraded shares of NVIDIA (NASDAQ:NVDA) from a hold rating to a buy rating in a research note published on Thursday, BenzingaRatingsTable reports. Cascend Securities currently has $190.00 price objective on the computer hardware maker’s stock.

Other equities analysts have also issued reports about the stock. Barclays reaffirmed a hold rating and set a $23.00 target price on shares of Cypress Semiconductor in a research report on Thursday, June 6th. Wells Fargo & Co set a $162.00 target price on shares of Jazz Pharmaceuticals and gave the stock a buy rating in a research report on Tuesday, March 19th. Craig Hallum initiated coverage on shares of NVIDIA in a research report on Thursday, March 14th. They set a hold rating on the stock. Deutsche Bank set a €83.00 ($96.51) target price on shares of Gerresheimer and gave the stock a buy rating in a research report on Wednesday, March 20th. Finally, UBS Group set a $25.00 target price on shares of Macy’s and gave the stock a hold rating in a research report on Friday, May 17th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-six have issued a buy rating to the stock. The company has an average rating of Buy and an average price target of $194.34.

Shares of NASDAQ NVDA opened at $167.61 on Thursday. The company has a current ratio of 8.98, a quick ratio of 7.78 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $102.07 billion, a P/E ratio of 27.61, a P/E/G ratio of 4.24 and a beta of 2.09. NVIDIA has a 1 year low of $124.46 and a 1 year high of $292.76. The stock has a 50-day moving average price of $151.30.



NVIDIA (NASDAQ:NVDA) last issued its earnings results on Thursday, May 16th. The computer hardware maker reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.07. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. NVIDIA had a net margin of 30.68% and a return on equity of 31.27%. The company’s quarterly revenue was down 30.8% compared to the same quarter last year. During the same period last year, the company posted $2.05 earnings per share. As a group, research analysts predict that NVIDIA will post 4.22 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, May 31st were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, May 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.38%. NVIDIA’s payout ratio is currently 10.54%.

In other news, Director Harvey C. Jones sold 100,000 shares of NVIDIA stock in a transaction on Monday, June 17th. The shares were sold at an average price of $145.10, for a total transaction of $14,510,000.00. Following the completion of the sale, the director now directly owns 32,983 shares in the company, valued at $4,785,833.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Colette Kress sold 2,236 shares of NVIDIA stock in a transaction on Friday, June 28th. The stock was sold at an average price of $164.01, for a total transaction of $366,726.36. Following the sale, the chief financial officer now owns 239,710 shares of the company’s stock, valued at $39,314,837.10. The disclosure for this sale can be found here. Insiders own 4.64% of the company’s stock.

Several large investors have recently bought and sold shares of NVDA. Comerica Securities Inc. increased its position in shares of NVIDIA by 95.7% during the 4th quarter. Comerica Securities Inc. now owns 2,853 shares of the computer hardware maker’s stock worth $381,000 after purchasing an additional 1,395 shares during the last quarter. Bessemer Group Inc. increased its position in shares of NVIDIA by 9.1% during the 4th quarter. Bessemer Group Inc. now owns 7,000 shares of the computer hardware maker’s stock worth $935,000 after purchasing an additional 585 shares during the last quarter. Apollon Wealth Management LLC acquired a new position in shares of NVIDIA during the 4th quarter worth approximately $559,000. Commonwealth Bank of Australia increased its position in shares of NVIDIA by 10.8% during the 4th quarter. Commonwealth Bank of Australia now owns 15,968 shares of the computer hardware maker’s stock worth $2,125,000 after purchasing an additional 1,561 shares during the last quarter. Finally, Duality Advisers LP acquired a new position in shares of NVIDIA during the 4th quarter worth approximately $7,190,000. Institutional investors and hedge funds own 67.51% of the company’s stock.

NVIDIA Company Profile

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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