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Galaxy Payroll Group (NASDAQ:GLXG) Stock, Option Chain

Galaxy Payroll Group

Galaxy Payroll Group Ltd is a provider of payroll outsourcing services, employment services, consultancy and market research services based in Hong Kong. Its client base includes the retail and trading, industrial, IT, financial and professional services industries. The group generates majority of its revenues from clients in Hong Kong and PRC.

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Galaxy Payroll Group Limited - Ordinary Shares

Galaxy Payroll Group Ltd

Oppenheimer analyst Rick Schafer maintained Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) with an Outperform rating and raised the <a target="_blank" href="https://www.benzinga.com/quote/NVDA/analyst-ratings" rel="noreferrer noopener">price target from&nbsp;$150&nbsp;to&nbsp;$175</a>.
Rick Schafer of Oppenheimer has reiterated his bullish stance on Nvidia ahead of the company&#8217;s third-quarter earnings report scheduled for November 20. Schafer anticipates substantial upside in Nvidia&#8217;s October quarter results and January quarter guidance, driven by consistent demand from cloud service providers (CSPs) and enterprise clients for AI accelerators.
Also Read: <a target="_blank" href="https://www.benzinga.com/media/24/11/41984426/nvidia-powers-teslas-humanoid-robots-with-new-ai-tech-heres-what-to-expect-in-2025" rel="noreferrer noopener">Nvidia Powers Tesla&#8217;s Humanoid Robots With New AI Tech: Here&#8217;s What To Expect In 2025</a>
Schafer has revised his estimates upward, citing robust traction for Nvidia&#8217;s Hopper AI accelerators and the initial ramp-up of the new Blackwell chips, which will likely begin in the fourth quarter.
He projects that Blackwell will contribute several billion dollars in revenue for the January quarter despite ongoing supply constraints related to CoWoS-L capacity.
The analyst foresees a significant acceleration in Blackwell sales by the first quarter (April), with investors modeling between 5-6 million GPUs next year.
In 2025, Schafer expects the product mix to favor drop-in HGX modules and air-cooled NVL36 GB200 racks as they integrate more easily into existing data center infrastructures. He stated that liquid cooling challenges may take time to resolve.
Nvidia&#8217;s rack-scale solutions, which include CPUs and networking components, could offer a 10 times increase in average selling prices (ASP) compared to standalone modules.
Schafer sees Nvidia&#8217;s Data Center (DC) segment, which comprises 87% of total revenue, growing 9% quarter-over-quarter (QoQ) and 97% year-over-year (YoY) in the third quarter, led by the H200 chip.
The broader Blackwell product line will likely ramp up in the first quarter, with future iterations like the Blackwell Ultra scheduled for late 2025. Schafer estimates that 60% of the data center sales will come from training, while 40% will be from inference.
He forecasts over $10 billion in sales from sovereign AI projects this year, although this may face long-term risks from potential U.S. export restrictions.
For the Networking segment, accounting for 14% of Nvidia&#8217;s data center revenue, Schafer projects a 9% QoQ increase and 60% YoY growth, driven by robust Spectrum-X Ethernet switches and DPUs shipments.
He expects Nvidia&#8217;s next-generation Spectrum-X800 to launch in 2025, catering to large-scale accelerator clusters, followed by the Spectrum-X1600 in 2026.
In the Gaming segment, which makes up 10% of revenue, Schafer anticipates 5% QoQ and 6% YoY growth in the third quarter, fueled by strong sales of discrete PC GPUs.
He highlighted the upcoming launch of Nvidia&#8217;s 50-series Blackwell GPUs in early 2025, alongside a 3nm PC CPU developed in collaboration with MediaTek.
Schafer estimates Nvidia&#8217;s free cash flow (FCF) to be $16.5 billion for the third quarter, with $97 billion projected for the full year 2025. He stated that Nvidia has $57.5 billion remaining on its stock buyback authorization, with cash and debt balances of $34.8 billion and $8.5 billion, respectively.
Based on revised earnings estimates, Schafer raised his calendar year 2024, 2025, and 2026 EPS forecasts to $2.85, $4.16, and $5.04, up from previous estimates of $2.80, $3.77, and $4.51.
He also increased his price target for Nvidia stock, citing improved free cash flow and a stronger balance sheet. Nvidia trades 29 times his calendar year 2026 EPS estimate, below its five-year average of 37 times.
Schafer views Nvidia as a long-term buy, highlighting its leading position in AI hardware and software, strong gross and operating margins, and dominant data center ecosystem as core drivers of sustained growth.
Nvidia stock surged 205% year-to-date as U.S. Big Techs splurged on their AI ambitions. Investors can gain exposure to the AI wave through Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) and Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
Price Action:&nbsp;NVDA stock traded lower by 0.22% at $146.45 premarket at the last check on Friday.
Also Read:
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<li><a href="https://www.benzinga.com/tech/24/11/41978712/asml-projects-revenue-surge-to-63-billion-by-2030-eyes-ai-and-chip-market-boom" target="_blank" rel="noreferrer noopener">ASML Projects Revenue Surge to $63 Billion by 2030, Eyes AI and Chip Market Boom</a></li>
</ul>
Image via Shutterstock

Price Target

Reiteration

Analyst Ratings

Tech

NVDA

Nvidia Set For Gains From AI Cloud Demand, Blackwell Launch, And Data Center Expansion: Analyst

HC Wainwright &amp; Co. analyst Douglas Tsao reiterates Cabaletta Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CABA#NASDAQ">CABA</a>) with a Buy and maintains $25 price target.

CABA

HC Wainwright & Co. Reiterates Buy on Cabaletta Bio, Maintains $25 Price Target

Barclays analyst Vicki Stern upgrades InterContinental Hotels (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHG#NYSE">IHG</a>) from Equal-Weight to Overweight.

Upgrades

Barclays Upgrades InterContinental Hotels to Overweight

On Thursday, Chinese PC company Lenovo Group Ltd (OTC:&nbsp;LNVGY) reported a fiscal second-quarter revenue growth of&nbsp;24% year-on-year&nbsp;to $17.85 billion, beating the <a target="_blank" href="https://investor.lenovo.com/en/financial/results.php" rel="noreferrer noopener">analyst consensus estimate of $16.34 billion</a>.
The Solutions and Services Group (SSG) posted revenue growth of 13% Y/Y to $2.17 billion, with an operating margin of 20.4%, up by 40 bps Y/Y. The segment accounted for 32% of the total operating profit of the three business groups. Managed services and Project &amp; Solution Services revenue experienced double-digit growth, attributed to a solid contract backlog.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/11/41971559/disneys-q4-boosted-by-streaming-gains-strong-box-office-and-solid-parks-performance" rel="noreferrer noopener">Disney Q4 Earnings: Revenue And Profit Beat, Best Film Studio Performance, 3-Year Outlook And More</a>
The Infrastructure Solutions Group (ISG) revenue grew 65% Y/Y to $3.31 billion, driven by solid cloud momentum and strengthening enterprise business. High double-digit revenue growth for Storage came from aggressive cloud investment. Both the smartphone and tablet businesses delivered high double-digit revenue growth. The segment operating margin loss improved to (1.1)% versus (2.7)% Y/Y.
Intelligent Devices Group (IDG) increased 17% to $13.51 billion, driven by substantial market share gain in PC and smartphones and the rapid popularity of five feature AI PCs. The PC business expanded its market leadership to almost 24% market share. The segment operating margin stood flat at 7.3%.
The non-PC revenue mix during the quarter stood at 46%.&nbsp;Gross margin reached 15.7% versus 17.5% a year ago. The expenses-to-revenue ratio was 12.0% vs. 13.9% the prior year.&nbsp;
Net income grew by 48% Y/Y to $404 million. EPS per ADR rose to $0.0278 from <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">$0.0199 a year ago</a>.
As of September 30, 2024, cash and equivalents stood at $4.2 billion. 
Dividend: Lenovo&#8217;s Board declared an interim dividend of 8.5 Hong Kong cents per share.
Outlook: Lenovo plans to focus on boosting net income margin in the medium term and capitalize on digital transformation for sustained growth. The company finds itself well-positioned to lead the Hybrid AI shift, offering comprehensive solutions from devices to edge and cloud. It expects ongoing growth momentum across all three business units, with plans to enhance profitability.
Recently, Lenovo Group has partnered with Meta Platforms and Nvidia Corp to boost its <a target="_blank" href="https://www.benzinga.com/government/24/10/41365885/lenovos-ai-push-grows-with-meta-nvidia-collaboration-outside-china" rel="noreferrer noopener">AI capabilities in markets beyond China.</a>
At its Tech World event in Seattle, Lenovo launched &#8220;AI Now,&#8221; a personal AI assistant for PCs outside China. Built on Meta&#8217;s Llama 3.1 open-source large language model, the AI operates locally without internet access.
Lenovo also expanded its collaboration with Nvidia to roll out enterprise AI solutions. The Lenovo ThinkSystem SC777 V4 Neptune server now integrates Nvidia&#8217;s Blackwell GPUs alongside Lenovo&#8217;s water-cooling technology.
Facing risks from geopolitical tensions affecting supply chains, Lenovo employs its AI-driven Supply Chain Intelligence solution, which has already cut logistics and manufacturing costs by 20%.
Price Action: LNVGY stock closed higher by 1.14% at $24.78 on Thursday.
Photo by Robert Way via Shutterstock
Also Read:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41985546/rivian-volkswagen-deal-strengthens-finances-yet-ev-market-risks-remain-goldman-sachs" target="_blank" rel="noreferrer noopener">Rivian-Volkswagen Deal Strengthens Finances, Yet EV Market Risks Remain: Goldman Sachs</a></li>
</ul>

Earnings

Equities

LNVGY

Lenovo Q2 Earnings: Cloud Momentum, AI PCs, And Smartphone Growth Drive Revenue Beat

The Company's common stock will continue to be traded on the Nasdaq Capital Market under the symbol "POLA" and will begin trading on a split-adjusted basis when the market opens on November 19, 2024. The reverse stock split is primarily intended to enable the Company to regain compliance with the $1.00 minimum bid price required for continued listing on The Nasdaq Capital Market. The new CUSIP number for the Company's common stock following the reverse stock split will be 73102V204.

POLA

Polar Power Plans To Effect A Reverse Stock Split Of Its Common Stock At A Ratio Of 1 Post-split Share For Every 7 Pre-split Shares

Morgan Stanley analyst Laura Sanchez downgrades TPI Composites (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPIC#NASDAQ">TPIC</a>) from Equal-Weight to Underweight and lowers the price target from $4 to $2.

Downgrades

TPIC

Morgan Stanley Downgrades TPI Composites to Underweight, Lowers Price Target to $2

HC Wainwright &amp; Co. analyst Douglas Tsao reiterates Dare Bioscience (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DARE#NASDAQ">DARE</a>) with a Buy and maintains $12 price target.

DARE

HC Wainwright & Co. Reiterates Buy on Dare Bioscience, Maintains $12 Price Target

Management

Avery Dennison Says Gregory S. Lovins, Senior Vice President And CFO, Began Medical Leave Of Absence; Danny G. Allouche Named As Interim CFO, Effective November 15 - Filing

Morgan Stanley analyst Andrew Percoco downgrades Maxeon Solar Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAXN#NASDAQ">MAXN</a>) from Equal-Weight to Underweight and maintains the price target from $4 to $4.

Maxeon Solar Technologies, Ltd. - Ordinary Shares

MAXN

Morgan Stanley Downgrades Maxeon Solar Technologies to Underweight, Maintains Price Target to $4

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk on Thursday called for an end to all subsidies following a media report that President-elect Donald Trump is planning to <a href="https://www.benzinga.com/news/global/24/11/41999238/ross-gerber-blasts-teslas-support-for-ending-ev-tax-credit-as-insanity-amid-reported-policy-shift-under-trump-administration">end the $7,500 consumer tax credit</a> for purchasing EVs under the Inflation Reduction Act (IRA).
Musk&#8217;s Take: &#8220;In my view, we should end all government subsidies, including those for EVs, oil and gas,&#8221; Musk wrote on X following a report from Reuters that Trump&#8217;s transition team is planning to kill the $7500 tax credit for EV purchases. Tesla also expressed support for the decision to a Trump transition committee, the report added
This is not the first time that Musk and Tesla have spoken for the elimination of subsidies. During Tesla's second-quarter earnings in late July, Musk alleged that the impact of the elimination of subsidies&nbsp;<a href="https://www.benzinga.com/news/24/07/39934750/trump-presidency-and-ira-cut-would-be-devastating-for-competitors-says-elon-musk-long-term-probably" target="_blank" rel="noreferrer noopener">would only be slight for Tesla</a>&nbsp;but devastating for its competitors. The elimination of EV subsidies would probably help Tesla in the long term, he added.
Former Employee&#8217;s Take: Not all share Musk&#8217;s optimism. Former Tesla senior executive Rohan Patel said on Friday that Tesla made a huge effort to utilize the $7500 tax credit through its various communication avenues. 
&#8220;The $7500 was a particularly effective way to increase demand,&#8221; Patel said. &#8220;Hopefully Republicans keep and enhance other parts of the IRA, or they'll see a massive drop in manufacturing investments over the coming years…&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Tesla made a huge effort to utilize the $7500 credit through emails, signage, prominence on the website and configurator, used it in social media ads/videos. Riddle me this &#8211; think Tesla's sales and finance teams are dumb? Obviously not &#8211; they're crazy talented. The $7500… <a href="https://t.co/UxYkf4mZAj">https://t.co/UxYkf4mZAj</a>
&mdash; Rohan Patel (@rohanspatel) <a href="https://twitter.com/rohanspatel/status/1857287430958993643?ref_src=twsrc%5Etfw">November 15, 2024</a></blockquote>
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Patel was Tesla&#8217;s vice president of&nbsp;<a href="https://www.benzinga.com/news/24/08/40482862/former-tesla-exec-says-harris-not-trump-will-be-far-better-for-ev-giants-long-term-success-still-tru" target="_blank" rel="noreferrer noopener">global public policy&nbsp;</a>and business development&nbsp;<a href="https://www.benzinga.com/markets/equities/24/04/38250432/elon-musks-top-deputy-made-difficult-decision-to-move-on-from-tesla-as-ev-maker-said-to-be-layin" target="_blank" rel="noreferrer noopener">until April earlier this year</a>.
Analysts Are Divided: Wedbush analyst Dan Ives, however, believes the elimination of the tax credit could boost Tesla in the long run. 
"While this is a clear negative for the EV industry at first look and would particularly hurt GM, Ford, Stellantis, and Rivian… on the flip side we view this as a net bullish move for Tesla and Musk over time," Ives <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41988194/trump-plans-to-erase-ev-tax-credit-analyst-says-its-net-bullish-calls-sell-off-wrong-knee-jerk-reaction">said in a note</a> on Thursday, noting Tesla&#8217;s &#8220;unmatched scale&#8221; as compared to others. 
According to The Future Fund Managing Partner Gary Black, however, the killing of the consumer tax credit will have a negative impact on Tesla&#8217;s EPS similar to the one experienced by the company when it resorted to price cuts to increase delivery volume in 2023. The decision will likely not impact legacy automakers given EVs are only a small segment of their business, <a href="https://www.benzinga.com/news/global/24/11/41998381/tesla-earnings-will-be-hit-hardest-if-7500-ev-credit-is-cut-warns-gary-black-citing-80-dependence-on-ev-sales-please-do-the-math">he added</a>.
Tesla researcher Troy Teslike is seemingly with Black too. &#8220;Tesla competes with gas cars from BMW, Mercedes, Porsche, and Audi. Therefore, without the tax credit, Teslas will effectively be $7,500 more expensive compared to those cars,&#8221; Teslike said, focussing on the impact of the decision of consumers. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Tesla competes with gas cars from BMW, Mercedes, Porsche, and Audi. Therefore, without the tax credit, Teslas will effectively be $7,500 more expensive compared to those cars. Right now, when someone in the U.S. buys a Tesla, they get a $7,500 instant point-of-sale discount, and…
&mdash; Troy Teslike (@TroyTeslike) <a href="https://twitter.com/TroyTeslike/status/1857142226822057988?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
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Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/partner/fintech/24/11/41939694/the-power-of-leverage-global-broker-octa-lays-out-the-ins-and-outs-of-this-trading-tool-for-trade" target="_blank" rel="noreferrer noopener">Ford Cuts Capri, Explorer EV Output Due To ‘Significantly Lower Than Expected Demand&#8217; After Pausing F-150 Lightning Production</a></li>
</ul>
Photos courtesy: Shutterstock

Analyst Color

Elon Musk Backs Calls For End To EV Subsidies, But Former Tesla Exec Warns Of 'Massive Drop' In Manufacturing Investments If Trump Follows Through

PPBT

Purple Biotech Reports Q3 Basic And Diluted Loss Per ADS Of $0.39, Exits Quarter With Cash & Equivalents Worth $5.438M

HC Wainwright &amp; Co. analyst Vernon Bernardino reiterates Senseonics Holdings (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/SENS#AMEX">SENS</a>) with a Buy and maintains $2 price target.

SENS

HC Wainwright & Co. Reiterates Buy on Senseonics Holdings, Maintains $2 Price Target

Morgan Stanley analyst Andrew Percoco downgrades SolarEdge Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) from Equal-Weight to Underweight and lowers the price target from $23 to $9.

SEDG

Morgan Stanley Downgrades SolarEdge Technologies to Underweight, Lowers Price Target to $9

William Blair analyst Tim Mulrooney upgrades BrightView Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BV#NYSE">BV</a>) from Market Perform to Outperform.

William Blair Upgrades BrightView Hldgs to Outperform

Morgan Stanley analyst Simeon Gutman downgrades European Wax Center (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWCZ#NASDAQ">EWCZ</a>) from Equal-Weight to Underweight and maintains the price target from $5 to $5.

EWCZ

Morgan Stanley Downgrades European Wax Center to Underweight, Maintains Price Target to $5

Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) held its first Developer Conference, DevCon, November 13th-14th, 2024. This exclusive conference brought together 150 of the most ambitious commercial and government builders and technical leaders for two days of product launches, hands-on development, and competition.
This event marked the public launch of new AIP for Developers features. This launch underscores Palantir's commitment to deprecating backend by introducing improved features and a new developer toolkit for AIP to expedite the journey from prototype to production. These new releases - such as Ontology SDK 2.0, new Platform APIs, Workflow Builder, and more - enable new and faster development tooling, along with enhanced language expansiveness.

PLTR

Palantir Technologies Held Its First Developer Conference, DevCon, November 13th-14th: Company Launched New Releases Such As Ontology SDK 2.0, New Platform APIs, And Workflow Builder

Morgan Stanley analyst Judah Frommer assumes Regenxbio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGNX#NASDAQ">RGNX</a>) with a Overweight rating and announces Price Target of $22.

Initiation

RGNX

Morgan Stanley Assumes Regenxbio at Overweight, Announces Price Target of $22

This may include a business combination, reverse merger, asset sales or a combination of those alternatives.&nbsp;Further information will be made available once the evaluation of strategic options has been completed.

EYEN

Eyenovia Says Considering Variety Of Steps To Maximize Value To All Stakeholders, To Reduce Expenses And To Evaluate Its Strategic Options

Eyenovia Says Disappointed That DRC Determined That Chaperone Study Does Not Appear To Be Meeting Its Primary Efficacy Endpoint; To Discontinue Study, Review Full Data Set, And Evaluate Next Steps For The Program

Bio-Path Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPTH#NASDAQ">BPTH</a>) reported quarterly losses of $(0.70) per share which beat the analyst consensus estimate of $(1.01) by 30.69 percent.

BPTH

Bio-Path Holdings Q3 2024 GAAP EPS $(0.70) Beats $(1.01) Estimate

Galaxy Payroll prices its IPO at $4/share

U.S. IPO Weekly Recap: 3 Biotechs Lead Active September IPO Market

A trio of biotech companies' shares rose on Friday in their first trading sessions. Bicara Therapeutics, MBX Biosciences, and Zenas BioPharma each sold more shares in their respective initial public offerings than they had planned.

Trio Of Biotech IPOs Climb In Debuts

Trio Of Biotech IPOs Climb In Debut

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