New Street Research Downgrades NVIDIA (NASDAQ:NVDA) to Neutral

NVIDIA (NASDAQ:NVDA) was downgraded by analysts at New Street Research from a “buy” rating to a “neutral” rating in a report released on Friday.

A number of other equities analysts also recently commented on the stock. UBS Group lifted their target price on shares of NVIDIA from $195.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Susquehanna Bancshares lifted their target price on shares of NVIDIA from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Jefferies Financial Group lifted their target price on shares of NVIDIA from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday. Nomura reaffirmed a “hold” rating on shares of NVIDIA in a research note on Friday, August 23rd. Finally, ValuEngine downgraded shares of NVIDIA from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 11th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-eight have issued a buy rating to the company. NVIDIA currently has an average rating of “Buy” and an average price target of $216.69.

NVDA stock traded down $5.60 during midday trading on Friday, hitting $204.19. 26,297,200 shares of the stock traded hands, compared to its average volume of 7,343,198. The company has a debt-to-equity ratio of 0.24, a current ratio of 8.65 and a quick ratio of 7.74. The stock’s fifty day simple moving average is $193.51 and its 200-day simple moving average is $170.40. NVIDIA has a 1-year low of $124.46 and a 1-year high of $211.86. The firm has a market cap of $127.76 billion, a P/E ratio of 33.64, a PEG ratio of 5.39 and a beta of 2.06.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Thursday, November 14th. The computer hardware maker reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.21. NVIDIA had a net margin of 24.08% and a return on equity of 22.82%. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. NVIDIA’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, research analysts predict that NVIDIA will post 4.07 earnings per share for the current year.

In related news, Director Michael G. Mccaffery sold 15,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $165.97, for a total value of $2,489,550.00. Following the completion of the transaction, the director now owns 27,579 shares in the company, valued at $4,577,286.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 31,357 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $179.01, for a total transaction of $5,613,216.57. The disclosure for this sale can be found here. Insiders sold 66,383 shares of company stock valued at $11,625,217 in the last 90 days. Company insiders own 4.64% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Pacific Center for Financial Services grew its holdings in NVIDIA by 143.1% during the 2nd quarter. Pacific Center for Financial Services now owns 158 shares of the computer hardware maker’s stock worth $26,000 after acquiring an additional 93 shares in the last quarter. LLBH Private Wealth Management LLC acquired a new position in NVIDIA during the 2nd quarter worth approximately $27,000. Marquette Asset Management LLC grew its holdings in NVIDIA by 416.7% during the 3rd quarter. Marquette Asset Management LLC now owns 155 shares of the computer hardware maker’s stock worth $27,000 after acquiring an additional 125 shares in the last quarter. Field & Main Bank acquired a new position in NVIDIA during the 2nd quarter worth approximately $33,000. Finally, Investors Research Corp grew its holdings in NVIDIA by 313.0% during the 3rd quarter. Investors Research Corp now owns 190 shares of the computer hardware maker’s stock worth $33,000 after acquiring an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 64.51% 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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