NVIDIA (NVDA) Earns Buy Rating from SunTrust Banks
NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reiterated by equities research analysts at SunTrust Banks in a research note issued to investors on Friday, MarketBeat.com reports. They currently have a $305.00 price objective on the computer hardware maker’s stock, up from their prior price objective of $253.00. SunTrust Banks’ target price would suggest a potential upside of 31.42% from the stock’s current price.
Several other equities analysts have also weighed in on the stock. Oppenheimer reaffirmed a “hold” rating on shares of NVIDIA in a report on Sunday, November 5th. Bank of America reaffirmed a “buy” rating and set a $275.00 target price (up from $251.00) on shares of NVIDIA in a report on Friday, January 19th. B. Riley reaffirmed a “buy” rating and set a $270.00 target price on shares of NVIDIA in a report on Monday, January 8th. Jefferies Group lifted their target price on shares of NVIDIA from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 10th. Finally, Barclays lifted their target price on shares of NVIDIA from $200.00 to $225.00 and gave the company an “equal weight” rating in a report on Friday, November 10th. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $210.67.
NVIDIA (NASDAQ:NVDA) opened at $232.08 on Friday. NVIDIA has a 1 year low of $95.17 and a 1 year high of $249.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 7.42 and a current ratio of 8.26. The stock has a market cap of $140,640.00, a P/E ratio of 48.05, a price-to-earnings-growth ratio of 4.83 and a beta of 1.43.
In other NVIDIA news, CFO Colette Kress sold 171 shares of NVIDIA stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $185.57, for a total transaction of $31,732.47. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director A Brooke Seawell sold 1,029 shares of NVIDIA stock in a transaction on Monday, November 20th. The stock was sold at an average price of $214.10, for a total transaction of $220,308.90. Following the sale, the director now directly owns 1,029 shares in the company, valued at approximately $220,308.90. The disclosure for this sale can be found here. In the last three months, insiders sold 19,858 shares of company stock valued at $4,227,384. 5.82% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in NVDA. Ark Investment Management LLC boosted its stake in NVIDIA by 79.5% during the 2nd quarter. Ark Investment Management LLC now owns 126,769 shares of the computer hardware maker’s stock worth $18,326,000 after purchasing an additional 56,138 shares during the last quarter. AHL Partners LLP acquired a new stake in NVIDIA during the 2nd quarter worth $848,000. BB&T Investment Services Inc. acquired a new stake in NVIDIA during the 2nd quarter worth $241,000. Koch Industries Inc. boosted its stake in NVIDIA by 4,042.8% during the 2nd quarter. Koch Industries Inc. now owns 241,484 shares of the computer hardware maker’s stock worth $240,000 after purchasing an additional 235,655 shares during the last quarter. Finally, Covington Capital Management boosted its stake in NVIDIA by 1.4% during the 2nd quarter. Covington Capital Management now owns 11,260 shares of the computer hardware maker’s stock worth $1,628,000 after purchasing an additional 155 shares during the last quarter. 62.84% of the stock is currently owned by institutional investors.
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NVIDIA Company Profile
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at 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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