NVIDIA (NASDAQ:NVDA) Hits New 1-Year Low After Analysts Downgrade

Shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) hit a new 52-week low in trading on Thursday after Sanford C. Bernstein lowered its price target on the stock from $210.00 to 180 $.00. The stock traded as low as $138.60 and last traded at $139.53, with volume of 685,340 shares changing hands. The stock previously closed at $150.94.

NVDA has been the subject of several other reports. Rosenblatt Securities reiterated a “buy” rating and issued a target price of $320.00 on NVIDIA stock in a Thursday, August 25 report. Raymond James lowered his price target on NVIDIA from $240.00 to $210.00 in a Thursday, August 25 research note. Truist Financial lowered its price target on NVIDIA from $216.00 to $198.00 and set a “buy” rating on the stock in a Thursday, August 25 research note. Needham & Company LLC lowered its price target on NVIDIA to $185.00 in a Tuesday, July 5 research note. Finally, Credit Suisse Group set a price target of $205.00 on NVIDIA in a research note on Wednesday. One equity research analyst rated the stock with a sell rating, eight gave a hold rating, twenty-four issued a buy rating and one issued a strong buy rating for the shares of the society. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $223.09.

Insider Buying and Selling at NVIDIA

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In other NVIDIA news, Director Mark A. Stevens sold 113,850 shares of the company in a trade on Monday, June 13. The stock was sold at an average price of $158.03, for a total value of $17,991,715.50. Following completion of the transaction, the administrator now owns 2,596,493 shares of the company, valued at approximately $410,323,788.79. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. In other news, Director Mark A. Stevens sold 113,850 shares in a trade on Monday, June 13. The stock was sold at an average price of $158.03, for a total transaction of $17,991,715.50. Following completion of the transaction, the administrator now owns 2,596,493 shares of the company, valued at approximately $410,323,788.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, Executive Vice President Debora Shoquist sold 23,644 shares in a trade on Wednesday, June 8. The stock was sold at an average price of $188.23, for a total value of $4,450,510.12. Following the transaction, the executive vice president now owns 186,476 shares of the company, valued at approximately $35,100,377.48. The disclosure of this sale can be found here. Company insiders hold 4.04% of the company’s shares.

Institutional entries and exits

Several institutional investors and hedge funds have recently changed their positions in the company. Barings LLC increased its stake in NVIDIA by 5.5% in the 4th quarter. Barings LLC now owns 15,989 shares of the hardware maker worth $4,702,000 after buying 837 additional shares last quarter. Montag A & Associates Inc. increased its stake in NVIDIA by 4.6% in the 4th quarter. Montag A & Associates Inc. now owns 8,190 shares of the hardware maker worth $2,409,000 after buying 362 more shares last quarter. Allegheny Financial Group LTD purchased a new stake in NVIDIA during Q4 for a value of approximately $106,000. Charter Oak Capital Management LLC increased its stake in NVIDIA by 400.0% during the 4th quarter. Charter Oak Capital Management LLC now owns 130 shares of the hardware maker worth $38,000 after buying 104 more shares in the last quarter. Finally, Curi Wealth Management LLC purchased a new stake in NVIDIA during Q4 for approximately $73,000. Institutional investors hold 62.58% of the company’s shares.

NVIDIA price performance

The company has a fifty-day moving average of $169.31 and a 200-day moving average of $197.29. The company has a market capitalization of $346.18 billion, a PE ratio of 49.49, a PEG ratio of 5.06 and a beta of 1.65. The company has a current ratio of 3.62, a quick ratio of 3.11 and a debt ratio of 0.41.

NVIDIA (NASDAQ:NVDA – Get Rating) last released its quarterly results on Wednesday, August 24. The hardware maker reported earnings per share of $0.51 for the quarter, missing the consensus estimate of $0.56 per ($0.05). NVIDIA had a net margin of 26.03% and a return on equity of 36.83%. The company posted revenue of $6.70 billion in the quarter, compared to $6.70 billion expected by analysts. During the same period of the previous year, the company achieved EPS of $0.89. The company’s revenue increased 3.0% year over year. As a group, research analysts predict that NVIDIA Co. will post earnings per share of 2.54 for the current year.

NVIDIA announces dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29. Shareholders of record on Thursday, September 8 will receive a dividend of $0.04. The ex-dividend date is Wednesday, September 7. This represents an annualized dividend of $0.16 and a dividend yield of 0.12%. NVIDIA’s payout ratio is currently 5.25%.

NVIDIA Company Profile

(Get a rating)

NVIDIA Corporation provides graphics, computing, and networking solutions in the United States, Taiwan, China, and around the world. The Company’s 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 GPU for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for creating 3D designs and virtual worlds.

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