NVIDIA (NASDAQ:NVDA) Upgraded by TD Cowen to Strong-Buy

NVIDIA (NASDAQ:NVDA) was upgraded by research analysts at TD Cowen to a “strong-buy” rating in a research note issued to investors on Monday, Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. UBS Group upped their price objective on NVIDIA from $120.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. lifted their target price on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Citigroup raised their price target on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, Oppenheimer reissued an “outperform” rating and issued a $110.00 price objective on shares of NVIDIA in a research note on Thursday, May 23rd. Five equities research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $115.59 on Monday. The company has a market cap of $2.84 trillion, a price-to-earnings ratio of 67.60, a PEG ratio of 1.06 and a beta of 1.67. NVIDIA has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock has a fifty day moving average price of $116.88 and a 200-day moving average price of $106.63.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the prior year, the company earned $0.25 earnings per share. The company’s quarterly revenue was up 122.4% on a year-over-year basis. As a group, equities analysts anticipate that NVIDIA will post 2.64 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $111.83, for a total transaction of $13,419,600.00. Following the completion of the transaction, the chief executive officer now owns 75,655,836 shares of the company’s stock, valued at $8,460,592,139.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NVIDIA news, EVP Ajay K. Puri sold 100,110 shares of NVIDIA stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the transaction, the executive vice president now directly owns 3,939,350 shares of the company’s stock, valued at $512,509,435. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $111.83, for a total transaction of $13,419,600.00. Following the sale, the chief executive officer now directly owns 75,655,836 shares in the company, valued at approximately $8,460,592,139.88. The disclosure for this sale can be found here. Insiders sold 3,845,633 shares of company stock valued at $465,330,122 over the last 90 days. Corporate insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FPC Investment Advisory Inc. purchased a new position in NVIDIA during the 1st quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA in the first quarter valued at approximately $27,000. HBC Financial Services PLLC purchased a new stake in NVIDIA during the 1st quarter worth approximately $30,000. Norwood Financial Corp acquired a new stake in NVIDIA during the 1st quarter worth approximately $45,000. Finally, Coston McIsaac & Partners boosted its position in NVIDIA by 231.3% in the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after buying an additional 37 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

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.