NVIDIA (NASDAQ:NVDA) Receives Buy Rating from Truist Financial

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reissued by Truist Financial in a research note issued to investors on Thursday, Benzinga reports. They currently have a $140.00 price target on the computer hardware maker’s stock, up from their previous price target of $128.80. Truist Financial’s price target points to a potential upside of 11.73% from the company’s current price.

NVDA has been the topic of a number of other reports. Mizuho raised their price target on NVIDIA from $118.00 to $127.50 and gave the company a “buy” rating in a report on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft raised their price target on NVIDIA from $85.00 to $100.00 and gave the company a “hold” rating in a report on Thursday, May 23rd. Needham & Company LLC raised their target price on NVIDIA from $85.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. The Goldman Sachs Group raised their target price on NVIDIA from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Finally, UBS Group raised their target price on NVIDIA from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Five research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $123.80.

NVIDIA Stock Performance

Shares of NVDA opened at $125.30 on Thursday. The business’s fifty day moving average price is $103.66 and its 200 day moving average price is $82.10. NVIDIA has a 12-month low of $39.23 and a 12-month high of $140.76. The stock has a market capitalization of $3.08 trillion, a PE ratio of 73.39, a price-to-earnings-growth ratio of 1.33 and a beta of 1.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.10. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The firm had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. During the same period last year, the company earned $0.09 earnings per share. The firm’s revenue for the quarter was up 262.1% on a year-over-year basis. Equities research analysts forecast that NVIDIA will post 2.52 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Colette Kress sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the transaction, the chief financial officer now directly owns 5,188,862 shares of the company’s stock, valued at approximately $627,073,972.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Colette Kress sold 100,000 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $120.85, for a total value of $12,085,000.00. Following the completion of the sale, the chief financial officer now directly owns 5,188,862 shares in the company, valued at approximately $627,073,972.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.00. Following the completion of the sale, the insider now owns 503,878 shares of the company’s stock, valued at $64,582,043.26. The disclosure for this sale can be found here. Insiders have sold 1,746,590 shares of company stock valued at $309,332,104 in the last 90 days. 4.23% of the stock is currently owned by insiders.

Institutional Trading of NVIDIA

Institutional investors and hedge funds have recently modified their holdings of the business. Westfield Capital Management Co. LP increased its stake in shares of NVIDIA by 19.7% in the third quarter. Westfield Capital Management Co. LP now owns 638,970 shares of the computer hardware maker’s stock valued at $277,946,000 after buying an additional 105,120 shares during the period. Weik Capital Management acquired a new stake in shares of NVIDIA in the third quarter valued at about $217,000. W Advisors LLC increased its stake in shares of NVIDIA by 123.3% in the third quarter. W Advisors LLC now owns 1,342 shares of the computer hardware maker’s stock valued at $584,000 after buying an additional 741 shares during the period. Valley National Advisers Inc. increased its stake in shares of NVIDIA by 7.1% in the third quarter. Valley National Advisers Inc. now owns 3,583 shares of the computer hardware maker’s stock valued at $1,559,000 after buying an additional 236 shares during the period. Finally, Truvestments Capital LLC increased its stake in shares of NVIDIA by 5.7% in the third quarter. Truvestments Capital LLC now owns 4,764 shares of the computer hardware maker’s stock valued at $2,072,000 after buying an additional 258 shares during the period. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.