NVIDIA (NASDAQ:NVDA) Upgraded by Summit Insights to Buy Rating

NVIDIA (NASDAQ:NVDA) was upgraded by Summit Insights from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday,Briefing.com Automated Import reports.

A number of other research analysts also recently weighed in on the company. Barclays reissued an “overweight” rating on shares of NVIDIA in a research note on Thursday. Tigress Financial restated a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Truist Financial lifted their target price on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Piper Sandler restated an “overweight” rating on shares of NVIDIA in a report on Wednesday. Finally, DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-five have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.45.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $134.81 on Thursday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA has a 1 year low of $86.62 and a 1 year high of $195.95. The business has a fifty day simple moving average of $114.85 and a 200 day simple moving average of $126.66. The firm has a market cap of $3.30 trillion, a price-to-earnings ratio of 53.05, a P/E/G ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 earnings per share. As a group, sell-side analysts predict that NVIDIA will post 2.77 earnings per share for the current fiscal year.

Insider Transactions at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. The trade was a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This trade represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,147 shares of company stock valued at $17,133,207. Corporate insiders own 4.17% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hickory Point Bank & Trust bought a new position in NVIDIA in the 4th quarter worth approximately $2,272,000. Capital Performance Advisors LLP lifted its position in NVIDIA by 59.3% during the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock valued at $3,586,000 after purchasing an additional 9,944 shares during the period. Waddell & Associates LLC grew its holdings in NVIDIA by 1.2% during the 4th quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock worth $3,240,000 after acquiring an additional 297 shares during the period. Strategy Asset Managers LLC raised its position in shares of NVIDIA by 0.8% during the 4th quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker’s stock valued at $7,024,000 after acquiring an additional 405 shares during the last quarter. Finally, Ethos Financial Group LLC raised its position in shares of NVIDIA by 24.1% during the 4th quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker’s stock valued at $4,312,000 after acquiring an additional 6,241 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

About NVIDIA

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the 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 cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.