BidaskClub Downgrades NVIDIA (NVDA) to Hold

BidaskClub cut shares of NVIDIA (NASDAQ:NVDA) from a buy rating to a hold rating in a report issued on Wednesday, May 8th, BidAskClub reports.

Several other equities research analysts have also weighed in on the company. Evercore ISI reduced their price objective on NVIDIA from $325.00 to $275.00 and set an outperform rating for the company in a research note on Monday, January 14th. Piper Jaffray Companies initiated coverage on NVIDIA in a research note on Tuesday, March 26th. They set an overweight rating and a $200.00 price objective for the company. Craig Hallum initiated coverage on NVIDIA in a research note on Thursday, March 14th. They set a hold rating for the company. UBS Group raised NVIDIA from a neutral rating to a buy rating and reduced their price objective for the stock from $190.00 to $180.00 in a research note on Tuesday, January 29th. Finally, Credit Suisse Group restated an outperform rating on shares of NVIDIA in a report on Wednesday, January 9th. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-five have assigned a buy rating to the stock. NVIDIA has a consensus rating of Hold and an average target price of $198.93.

Shares of NASDAQ NVDA opened at $135.46 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 8.98 and a quick ratio of 7.78. The firm has a market cap of $82.50 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 3.57 and a beta of 1.85. NVIDIA has a 1 year low of $124.46 and a 1 year high of $292.76.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, May 16th. The computer hardware maker reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.07. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. NVIDIA had a return on equity of 31.27% and a net margin of 30.68%. The company’s revenue was down 30.8% compared to the same quarter last year. During the same period last year, the company posted $2.05 EPS. Equities research analysts forecast that NVIDIA will post 4.19 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 31st will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.64 annualized dividend and a yield of 0.47%. NVIDIA’s dividend payout ratio (DPR) is currently 10.54%.

In related news, CFO Colette Kress sold 14,092 shares of NVIDIA stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $183.33, for a total transaction of $2,583,486.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Debora Shoquist sold 5,823 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $185.00, for a total transaction of $1,077,255.00. Following the transaction, the executive vice president now owns 171,783 shares of the company’s stock, valued at approximately $31,779,855. The disclosure for this sale can be found here. 4.64% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of NVDA. Neuberger Berman Group LLC boosted its stake in NVIDIA by 10.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 311,173 shares of the computer hardware maker’s stock worth $87,445,000 after purchasing an additional 29,069 shares during the period. Nordea Investment Management AB raised its holdings in shares of NVIDIA by 9.7% in the 3rd quarter. Nordea Investment Management AB now owns 277,203 shares of the computer hardware maker’s stock valued at $77,893,000 after purchasing an additional 24,605 shares during the period. Vanguard Group Inc raised its holdings in shares of NVIDIA by 4.0% in the 3rd quarter. Vanguard Group Inc now owns 44,464,641 shares of the computer hardware maker’s stock valued at $12,495,455,000 after purchasing an additional 1,693,736 shares during the period. North Star Investment Management Corp. grew its stake in NVIDIA by 37.4% in the 4th quarter. North Star Investment Management Corp. now owns 1,083 shares of the computer hardware maker’s stock valued at $145,000 after buying an additional 295 shares during the last quarter. Finally, USS Investment Management Ltd grew its stake in NVIDIA by 74.7% in the 4th quarter. USS Investment Management Ltd now owns 817,294 shares of the computer hardware maker’s stock valued at $109,105,000 after buying an additional 349,513 shares during the last quarter. Hedge funds and other institutional investors own 67.58% of the company’s stock.

About NVIDIA

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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