Cantor Fitzgerald Reiterates “Overweight” Rating for NVIDIA (NASDAQ:NVDA)

Cantor Fitzgerald reissued their overweight rating on shares of NVIDIA (NASDAQ:NVDA) in a report published on Thursday, Benzinga reports. Cantor Fitzgerald currently has a $175.00 target price on the computer hardware maker’s stock.

Other equities analysts have also issued reports about the stock. HSBC raised their target price on shares of NVIDIA from $135.00 to $145.00 and gave the stock a buy rating in a research report on Wednesday, August 21st. Raymond James raised their target price on shares of NVIDIA from $120.00 to $140.00 and gave the company a strong-buy rating in a research note on Thursday. Sanford C. Bernstein raised their target price on shares of NVIDIA from $100.00 to $130.00 and gave the company an outperform rating in a research note on Thursday, May 23rd. Stifel Nicolaus raised their target price on shares of NVIDIA from $91.00 to $108.50 and gave the company a buy rating in a research note on Monday, May 20th. Finally, Deutsche Bank Aktiengesellschaft restated a hold rating and issued a $100.00 target price on shares of NVIDIA in a research note on Monday, August 5th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $142.10.

NVIDIA Stock Performance

NVIDIA stock opened at $117.59 on Thursday. 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 has a 1-year low of $39.23 and a 1-year high of $140.76. The firm has a market capitalization of $2.89 trillion, a P/E ratio of 68.77, a price-to-earnings-growth ratio of 1.15 and a beta of 1.68. The company’s 50-day moving average is $120.51 and its 200 day moving average is $102.70.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.05. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the prior year, the company posted $0.25 EPS. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. Research analysts forecast that NVIDIA will post 2.53 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is presently 2.34%.

NVIDIA declared that its board has authorized a stock repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 100,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total value of $119,457,000.00. Following the transaction, the director now directly owns 2,967,136 shares in the company, valued at approximately $3,544,451,651.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Tench Coxe sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total value of $119,457,000.00. Following the sale, the director now directly owns 2,967,136 shares of the company’s stock, valued at approximately $3,544,451,651.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $128.74, for a total transaction of $15,448,800.00. Following the sale, the chief executive officer now directly owns 81,358,830 shares in the company, valued at $10,474,135,774.20. The disclosure for this sale can be found here. Insiders have sold 4,021,333 shares of company stock worth $599,173,182 in the last ninety days. 4.23% of the stock is owned by insiders.

Institutional Investors Weigh In On NVIDIA

Large investors have recently modified their holdings of the company. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA in the 2nd quarter valued at $25,000. DHJJ Financial Advisors Ltd. boosted its stake in 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 purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. acquired a new stake in NVIDIA during the 1st quarter worth $26,000. CGC Financial Services LLC acquired a new stake in NVIDIA during the 2nd quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA during the 1st quarter worth $27,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

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.