NVIDIA (NASDAQ:NVDA) PT Raised to $145.00

NVIDIA (NASDAQ:NVDA) had its target price increased by Needham & Company LLC from $120.00 to $145.00 in a research report report published on Thursday morning, MarketBeat.com reports. The brokerage currently has a buy rating on the computer hardware maker’s stock.

NVDA has been the topic of several other reports. Raymond James lifted their price target on shares of NVIDIA from $110.00 to $120.00 and gave the company a strong-buy rating in a report on Thursday, May 23rd. New Street Research upgraded shares of NVIDIA from a neutral rating to a buy rating and set a $120.00 target price for the company in a research note on Tuesday, August 6th. Oppenheimer reissued an outperform rating and issued a $110.00 price target on shares of NVIDIA in a report on Thursday, May 23rd. KeyCorp increased their price target on shares of NVIDIA from $130.00 to $180.00 and gave the stock an overweight rating in a report on Tuesday, July 9th. Finally, Evercore ISI upped their price objective on shares of NVIDIA from $145.00 to $150.00 and gave the stock an outperform rating in a research report on Friday, August 23rd. Five investment 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 currently has a consensus rating of Moderate Buy and a consensus target price of $142.10.

NVIDIA Stock Down 6.4 %

Shares of NVDA stock opened at $117.59 on Thursday. The firm has a fifty day moving average of $120.51 and a 200-day moving average of $102.70. The company has a quick ratio of 3.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.17. NVIDIA has a 12-month low of $39.23 and a 12-month high of $140.76. The company has a market capitalization of $2.89 trillion, a price-to-earnings ratio of 68.77, a P/E/G ratio of 1.15 and a beta of 1.68.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 earnings per share. As a group, equities research analysts predict that NVIDIA will post 2.53 earnings per share for the current fiscal year.

NVIDIA announced that its board has approved a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

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

Insider Activity

In other news, Director Tench Coxe sold 100,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the completion of the sale, the director now 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 the SEC website. In other NVIDIA news, EVP Debora Shoquist sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $115.16, for a total value of $17,273,850.00. Following the completion of the transaction, the executive vice president now directly owns 1,553,630 shares in the company, valued at approximately $178,914,477.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $1,194.57, for a total value of $119,457,000.00. Following the completion of the transaction, the director now owns 2,967,136 shares of the company’s stock, valued at $3,544,451,651.52. The disclosure for this sale can be found here. Insiders sold 4,021,333 shares of company stock valued at $599,173,182 in the last quarter. 4.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA during the 2nd quarter valued at $25,000. DHJJ Financial Advisors Ltd. grew its position 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 in the last quarter. FPC Investment Advisory Inc. bought a new position in shares of NVIDIA during the 1st quarter worth $26,000. CGC Financial Services LLC bought a new stake in NVIDIA during the second quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA during the first quarter valued at about $27,000. 65.27% of the stock is currently owned by 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.