NVIDIA (NASDAQ:NVDA) Shares Up 0.1% After Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA)’s stock price rose 0.1% during mid-day trading on Thursday after HSBC raised their price target on the stock from $135.00 to $145.00. HSBC currently has a buy rating on the stock. NVIDIA traded as high as $130.75 and last traded at $128.64. Approximately 89,908,469 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 445,252,875 shares. The stock had previously closed at $128.50.

Several other equities analysts also recently issued reports on NVDA. Stifel Nicolaus lifted their price objective on NVIDIA from $91.00 to $108.50 and gave the company a “buy” rating in a research report on Monday, May 20th. Wells Fargo & Company lifted their price target on NVIDIA from $125.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. DZ Bank lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 price objective on the stock. in a report on Friday, May 24th. TD Cowen raised their price objective on shares of NVIDIA from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Melius Research upped their target price on shares of NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Five research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $131.55.

Insider Buying and Selling

In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the completion of the transaction, the chief executive officer now directly owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the transaction, the chief executive officer now owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 99,390 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $113.02, for a total value of $11,232,759.63. Following the completion of the sale, the director now directly owns 10,251,940 shares of the company’s stock, valued at approximately $1,158,643,502.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,170,723 shares of company stock worth $616,106,141. 4.23% of the stock is owned by insiders.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently modified their holdings of NVDA. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA in the second quarter valued at $25,000. DHJJ Financial Advisors Ltd. boosted its holdings in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 190 shares during the period. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA during the 1st quarter worth about $26,000. CGC Financial Services LLC acquired a new position in NVIDIA in the 2nd quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA in the 1st quarter valued at about $27,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Price Performance

The stock has a market capitalization of $3.04 trillion, a price-to-earnings ratio of 72.36, a P/E/G ratio of 1.15 and a beta of 1.68. The company’s 50-day simple moving average is $121.00 and its 200-day simple moving average is $100.87. 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 announced its earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The company had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. During the same quarter last year, the company earned $0.09 earnings per share. The firm’s quarterly revenue was up 262.1% compared to the same quarter last year. Research analysts forecast that NVIDIA Co. will post 2.53 earnings per share for the current fiscal year.

About NVIDIA

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.