October 20, 2017

(NVDA) Receives Buy Rating from Citigroup Inc

13 October 2017, 10:36 | Hattie Nash

The stock has been active on the tape, now trading at $191.03, up from yesterday's close by 0.05%.

Nvidia shares will soar due to the company's booming chip sales in new high-growth technology markets, according to a one Wall Street firm.

Just yesterday NVIDIA (NASDAQ:NVDA) traded 0.05% higher at $191.03.

In other NVIDIA Corporation news, Director Tench Coxe sold 50,000 shares of the business's stock in a transaction on Monday, September 18th. Hugh Johnson Advisors Llc who had been investing in Nvidia Corp for a number of months, seems to be less bullish one the $116.70B market cap company.

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NVIDIA Corporation has posted trailing 12 months earnings of $3.49 per share. The computer hardware maker reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.69 by $0.32.

Shareholders can expect a return on equity of 39.40%. The company had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $1.96 billion. During the same period in the previous year, the firm earned $0.53 earnings per share. Redwood Investments Ltd Liability Com has 1.05% invested in NVIDIA Corporation (NASDAQ:NVDA). On average, analysts predict that NVIDIA Corporation will post $3.64 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 14th. Bluestein R H And invested in 0.09% or 10,925 shares. This represents a $0.56 dividend on an annualized basis and a yield of 0.39%. The rating was maintained by RBC Capital Markets with "Top Pick" on Friday, August 7. NVIDIA Corporation's P/E ratio is 53.20.

NVIDIA Corporation (NASDAQ:NVDA) shares are on our watchlist today as the stock has moved -0.72% from the recent close, pricing at $180.20 at the time of press. BidaskClub lowered shares of NVIDIA Corporation from a strong-buy rating to a buy rating in a research note on Wednesday, June 28th.

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On the heels of the conference, predicting the world is about to evolve into one "where software will write itself" and artificial intelligence will become "the killer app for GPU", the analyst reiterates a Buy rating on NVDA stock while hiking the price target from $200 to $250, which represents a 30% increase from where the stock is now trading. With a loss potential of almost 10%, the stock's consensus target price stands at $174.05. SEAWELL A BROOKE also sold $434,980 worth of NVIDIA Corporation (NASDAQ:NVDA) on Wednesday, May 24. The stock was sold at an average price of $185.31, for a total value of $4,226,550.48. Shares for $3.50 million were sold by Byron Michael on Friday, May 19. Tracking the stock price in relation to moving averages as well as highs and lows for the year might assist with evaluating future stock performance.

In related news, CFO Colette Kress sold 22,808 shares of the company's stock in a transaction on Monday, October 9th. The disclosure for this sale can be found here. Insiders have sold a total of 452,784 shares of company stock worth $81,437,724 in the last 90 days. Eqis Capital Mngmt holds 0.05% of its portfolio in NVIDIA Corporation (NASDAQ:NVDA) for 5,490 shares. It improved, as 39 investors sold AL shares while 65 reduced holdings. Tokio Marine Asset Management Co Ltd acquired 9,300 shares as Terex Corp New (TEX)'s stock rose 2.25%. Sowell Financial Services LLC raised its position in NVIDIA by 664.4% in the first quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker's stock worth $18,549,000 after buying an additional 13,802 shares during the period. Ubs Asset Americas Inc holds 0% in Air Lease Corp (NYSE:AL) or 85,219 shares. Meiji Yasuda Life Ins Co, Japan-based fund reported 11,070 shares. Finally, Hanson McClain Inc. raised its holdings in shares of NVIDIA Corporation by 12.7% in the second quarter. Dock Street Asset invested in 70,116 shares or 4.75% of the stock.

TRADEMARK VIOLATION NOTICE: "NVIDIA Corporation (NVDA) PT Raised to $217.00 at Goldman Sachs Group, Inc". If you are accessing this piece on another publication, it was illegally stolen and republished in violation of US & worldwide copyright & trademark legislation.

Nvidia's "24-year history in parallel processing and the development of its ubiquitous CUDA platform has uniquely positioned the company to capitalize on the explosion of "intelligence machines" - hundreds of millions of AVs [autonomous vehicles] and trillions of IoT [internet of things] devices, all of which will generate significant network complexity and network consumption", analyst Rajvindra Gill wrote in a note to clients Friday entitled "Entering A World Where Software Will Write Itself: AI Is the Killer App for GPU". The Company's operates through two segments: GPU and Tegra Processor.

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