NVIDIA (NASDAQ:NVDA) Upgraded to “Buy” by Craig Hallum

Craig Hallum upgraded shares of NVIDIA (NASDAQ:NVDA – Get Rating) from a hold rating to a buy rating in a research note published on Thursday morning, The Fly reports. Craig Hallum currently has $500.00 target price on the computer hardware maker’s stock.

A number of other equities research analysts also recently weighed in on the stock. Barclays lifted their price target on shares of NVIDIA from $275.00 to $500.00 in a research note on Thursday. Mizuho lifted their price objective on NVIDIA from $290.00 to $400.00 in a report on Thursday. KeyCorp boosted their price objective on NVIDIA from $320.00 to $375.00 in a report on Monday. Citigroup boosted their price objective on NVIDIA from $363.00 to $420.00 in a report on Thursday. Finally, Susquehanna boosted their price objective on NVIDIA from $350.00 to $450.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of Moderate Buy and a consensus price target of $375.13.

NVIDIA Price Performance

Shares of NVDA opened at $379.80 on Thursday. NVIDIA has a twelve month low of $108.13 and a twelve month high of $394.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.73 and a current ratio of 3.52. The firm’s 50 day moving average price is $280.52 and its 200 day moving average price is $218.29. The firm has a market cap of $939.29 billion, a PE ratio of 197.81, a PEG ratio of 5.31 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA – Get Rating) last announced its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.17. The business had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $6.52 billion. NVIDIA had a net margin of 18.52% and a return on equity of 24.18%. NVIDIA’s quarterly revenue was down 13.2% on a year-over-year basis. During the same quarter last year, the company posted $1.18 earnings per share. As a group, research analysts expect that NVIDIA will post 3.28 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Debora Shoquist sold 23,084 shares of NVIDIA stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $305.00, for a total value of $7,040,620.00. Following the completion of the sale, the executive vice president now owns 139,860 shares of the company’s stock, valued at $42,657,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Debora Shoquist sold 23,084 shares of NVIDIA stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the transaction, the executive vice president now directly owns 139,860 shares in the company, valued at $42,657,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dawn E. Hudson sold 5,000 shares of NVIDIA stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $274.55, for a total value of $1,372,750.00. Following the transaction, the director now owns 85,350 shares in the company, valued at $23,432,842.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,084 shares of company stock valued at $14,516,510. Corporate insiders own 3.99% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several large investors have recently made changes to their positions in NVDA. Lindbrook Capital LLC grew its stake in NVIDIA by 66.8% in the fourth quarter. Lindbrook Capital LLC now owns 18,702 shares of the computer hardware maker’s stock worth $2,733,000 after purchasing an additional 7,492 shares in the last quarter. EP Wealth Advisors LLC grew its position in NVIDIA by 65.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 45,478 shares of the computer hardware maker’s stock worth $5,521,000 after purchasing an additional 18,044 shares during the period. MBL Wealth LLC grew its position in NVIDIA by 4.7% during the 4th quarter. MBL Wealth LLC now owns 6,428 shares of the computer hardware maker’s stock worth $939,000 after purchasing an additional 290 shares during the period. Family Firm Inc. grew its position in NVIDIA by 42.9% during the 4th quarter. Family Firm Inc. now owns 7,625 shares of the computer hardware maker’s stock worth $1,114,000 after purchasing an additional 2,289 shares during the period. Finally, Congress Asset Management Co. MA grew its position in shares of NVIDIA by 1.3% during the 4th quarter. Congress Asset Management Co. MA now owns 416,579 shares of the computer hardware maker’s stock valued at $60,879,000 after acquiring an additional 5,222 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

About NVIDIA

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