Nvidia (NVDA) Receives a Sell from Nomura

In a report released yesterday, David Wong from Nomura maintained a Sell rating on Nvidia (NVDAResearch Report), with a price target of $230.00. The company’s shares closed last Monday at $249.18.

According to TipRanks.com, Wong is a 5-star analyst with an average return of 13.7% and a 64.9% success rate. Wong covers the Consumer Goods sector, focusing on stocks such as Applied Materials, Texas Instruments, and Maxim Integrated.

Nvidia has an analyst consensus of Strong Buy, with a price target consensus of $305.28.

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Based on Nvidia’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $3.11 billion and net profit of $951 million. In comparison, last year the company earned revenue of $2.21 billion and had a net profit of $566 million.

Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NVDA in relation to earlier this year. Last month, Dawn Hudson, a Director at NVDA sold 35,177 shares for a total of $10,210,476.

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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. The Tegra Processor segment integrates an entire computer onto a single chip, and incorporates GPUs and multi-core CPUs to drive supercomputing for autonomous robots, drones, and cars, as well as for consoles and mobile gaming and entertainment devices. The company was founded by Jen-Hsun Huang, Chris A. Malachowsky, and Curtis R. Priem in January 1993 and is headquartered in Santa Clara, CA.