Oppenheimer Reiterates a Hold Rating on Nvidia

By Jason Carr

Oppenheimer analyst Rick Schafer reiterated a Hold rating on Nvidia (NASDAQ: NVDA) today. The company’s shares closed yesterday at $91.63, close to its 52-week high of $92.56.

According to TipRanks.com, Schafer is a top 25 analyst with an average return of 15.1% and a 71.5% success rate. Schafer covers the Technology sector, focusing on stocks such as Adesto Technologies Corp, Advanced Micro Devices, and Applied Micro Circ.

Currently, the analyst consensus on Nvidia is Moderate Buy and the average price target is $85.27, representing a -6.9% downside.

In a report issued on November 11, Pacific Crest also reiterated a Hold rating on the stock.

Based on Nvidia’s latest earnings report for the quarter ending October 31, the company posted quarterly revenue of $2 billion and quarterly net profit of $542 million. In comparison, last year the company earned revenue of $1.31 billion and had a net profit of $246 million.

Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Brooke Seawell, a Director at NVDA sold 35,000 shares for a total of $3,070,900.

NVIDIA Corp. is a visual computing company, connecting people through computer graphics. It is engaged in creating graphics chips, which is used in personal computers. The company operates through two segments: Graphics Processing Unit and Tegra Processor. The Graphics Processing Unit segment includes sales of the company’s GeForce discrete and chipset products that supports desktop and notebook PCs plus license fees from Intel and sales of memory products. The Tegra Processors segment provides processors that deliver superior visual and multimedia experience on tablets, smart phones and gaming devices while consuming minimal power. NVIDIA was founded by Jen-Hsun Huang, Chris A. Malachowsky and Curtis R. Priem in January 1993 and is headquartered in Santa Clara, CA.