Nvidia’s Shares Pop 1.4% on Wall Street Analyst Upgrade

NVIDIA (NASDAQ:NVDA) received Wall Street analyst upgrades after the company took steps in recent quarters to become a leader in the mobile chip market (NYSE:SMH) and diversify out of the personal computer market. The company’s Tegra applications processor has been included in devices by Samsung Electronics and Motorola Mobility Holdings (NYSE:MMI).

Nvidia shares trade at $15.49, up 1.4%. The company trades at a P/E ratio of about 17 which is higher than its industry peers. The company also trades at a sales multiple of 2.5 which is higher than its industry rivals. On the technical front, shares trade well below their rising 200 day moving average but above the declining 50 day moving average. The MACD is bullish while RSI is pointing up at 65.