NVIDIA (NASDAQ:NVDA) Downgraded to Neutral by New Street Research

New Street Research downgraded stock rating NVIDIA (NASDAQ:NVDA – Free Report) from a “buy” rating to a “neutral” rating in a research report issued on Friday, Marketbeat reports.

Several other analysts have also recently commented on the stock. Tigress Financial raised their price target on shares of NVIDIA from $98.50 to $170.00 and gave the stock a buy rating in a research note on Tuesday, June 18. Mizuho raised their price target on shares of NVIDIA from $118.00 to $127.50 and gave the company a buy rating in a research note on Tuesday, June 4. TD Cowen raised their price target on shares of NVIDIA from $120.00 to $140.00 and gave the company a buy rating in a research report on Monday, June 10. Wolfe Research raised their price target on shares of NVIDIA from $120.00 to $125.00 and gave the stock an outform rating in a research report on Thursday, May 23. Finally, Susquehanna raised their price target on shares of NVIDIA from $120.00 to $145.00 and gave the company a positive rating in a research note on Monday, June 10. Six research analysts have rated the stock a “hold,” thirty-eight have given a “buy” rating, and one has given a “strong buy” rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $126.34.

Check out our latest research report on NVDA

NVIDIA Price Performance

NASDAQ NVDA opened at $125.83 on Friday. The company’s 50 day moving average is $110.59, and its 200 day moving average is $85.91. NVIDIA has a 52-week low of $39.23 and a 52-week high of $140.76. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.14 and a current ratio of 3.53. The company has a market capitalization of $3.10 trillion, a P/E ratio of 73.59, a price-earnings-growth ratio of 1.35 and a beta of 1.68.

NVIDIA (NASDAQ:NVDA – Get a Free Report ) last released its quarterly earnings data on Wednesday, May 22. The computer hardware maker reported $0.61 earnings per share for the quarter, beating analysts’ consensus of $0.51 by $0.10. The company had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $24.59 billion. NVIDIA achieved a return on equity of 110.60% and a net margin of 53.40%. The company’s quarterly revenue increased 262.1% year-over-year. During the same period last year, the company earned $0.09 per share. Sell-side analysts are predicting that NVIDIA will report earnings per share of $2.53 for the current year.

NVIDIA increases dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28. Investors of record on Tuesday, June 11 received a dividend of $0.10. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, June 11. This represents a dividend of $0.40 on an annualized basis and a yield of 0.32%. NVIDIA has a payout ratio of 2.34%.

Insiders are betting

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 3. The shares were sold at an average price of $124.28, for a total value of $14,913,600.00. Following the completion of the transaction, the CEO now directly owns 79,734,995 shares of the company’s stock, valued at approximately $9,909,465,178.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink . In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 3. The shares were sold at an average price of $124.28, for a total value of $14,913,600.00. Following the completion of the sale, the CEO now owns 79,734,995 shares of the company’s stock, valued at $9,909,465,178.60. The transaction was disclosed in a filing with the Securities and Exchange Commission, which is available at this hyperlink . Additionally, insider Donald F. Robertson Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, June 21. The shares were sold at an average price of $128.17, for a total transaction value of $576,765.00. Following the completion of the transaction, the insider now directly owns 503,878 shares of the company’s stock, valued at $64,582,043.26. Disclosure of this sale can be found here . Insiders have sold a total of 1,999,590 shares of the company’s stock valued at $348,994,385 over the last 90 days. Company insiders now own 4.23% of the company’s stock.

Institutional investors rate NVIDIA

Institutional investors have recently added to or reduced their holdings in the company. Norges Bank acquired a new stake in NVIDIA in the fourth quarter worth $14,606,369,000. International Assets Investment Management LLC increased its position in NVIDIA by 54,019.5% in the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after acquiring an additional 16,835,703 shares during the period. Vanguard Group Inc. increased its holdings in NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after purchasing an additional 8,828,050 shares in the last quarter. DNB Asset Management AS increased its holdings in shares of NVIDIA by 810.8% during the second quarter. DNB Asset Management AS now owns 9,271,440 shares of the computer hardware maker’s stock worth $1,145,394,000 after purchasing an additional 8,253,495 shares during the period. Finally, Global Assets Advisory LLC bought a new position in shares of NVIDIA during the first quarter valued at approximately $4,826,280,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

About NVIDIA

(Download the free report)

NVIDIA Corporation provides graphics, compute, and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs; GeForce NOW game streaming service and related infrastructure and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for visual and virtual computing in the cloud; automotive infotainment platforms; and Omniverse software for building and operating metaverse and 3D web applications.

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