NVIDIA (NASDAQ:NVDA) Rating Reiterated by DA Davidson

NVIDIA (NASDAQ:NVDA)‘s stock had its “neutral” rating reissued by investment analysts at DA Davidson in a report issued on Thursday, Benzinga reports. They currently have a $90.00 target price on the computer hardware maker’s stock. DA Davidson’s price target indicates a potential downside of 24.60% from the company’s current price.

A number of other equities research analysts have also issued reports on NVDA. Evercore ISI increased their price target on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Susquehanna increased their target price on NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a research report on Monday, June 10th. The Goldman Sachs Group reissued a “buy” rating and set a $135.00 target price on shares of NVIDIA in a research note on Monday, August 19th. Robert W. Baird upped their price target on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Trading Up 1.5 %

Shares of NASDAQ:NVDA opened at $119.37 on Thursday. The stock has a 50 day moving average of $120.25 and a 200 day moving average of $102.80. The company has a market cap of $2.94 trillion, a PE ratio of 69.81, a price-to-earnings-growth ratio of 1.15 and a beta of 1.68. NVIDIA has a 12-month low of $39.23 and a 12-month high of $140.76. The company has a current ratio of 3.53, a quick ratio of 3.14 and a debt-to-equity ratio of 0.17.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 earnings per share. As a group, equities research analysts expect that NVIDIA will post 2.53 EPS for the current year.

NVIDIA declared that its board has initiated a share 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $128.17, for a total value of $576,765.00. Following the sale, the insider now owns 503,878 shares in the company, valued at $64,582,043.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $104.83, for a total transaction of $12,579,600.00. Following the completion of the sale, the chief executive officer now owns 76,614,995 shares of the company’s stock, valued at $8,031,549,925.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $128.17, for a total value of $576,765.00. Following the completion of the transaction, the insider now directly owns 503,878 shares in the company, valued at approximately $64,582,043.26. The disclosure for this sale can be found here. Insiders sold a total of 4,021,333 shares of company stock worth $599,173,182 in the last quarter. 4.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On NVIDIA

Institutional investors and hedge funds have recently bought and sold shares of the company. Lowe Wealth Advisors LLC bought a new position in NVIDIA in the second quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. increased its holdings in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares during the period. FPC Investment Advisory Inc. bought a new position in shares of NVIDIA in the 1st quarter worth $26,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA during the 2nd quarter worth $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 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.