NVIDIA (NASDAQ:NVDA) PT Raised to $165.00

NVIDIA (NASDAQ:NVDA) had its target price upped by equities research analysts at Westpark Capital from $127.50 to $165.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the computer hardware maker’s stock. Westpark Capital’s target price indicates a potential upside of 33.38% from the stock’s current price.

NVDA has been the topic of a number of other reports. Sanford C. Bernstein raised their price objective 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. Jefferies Financial Group raised their price target on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Craig Hallum increased their price objective on NVIDIA from $85.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Citigroup lifted their target price on NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, StockNews.com lowered NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 18th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $139.83.

NVIDIA Trading Down 1.5 %

Shares of NVIDIA stock traded down $1.90 during midday trading on Thursday, reaching $123.71. The company had a trading volume of 86,880,680 shares, compared to its average volume of 442,578,188. NVIDIA has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The stock has a fifty day moving average price of $120.71 and a 200 day moving average price of $102.54. The firm has a market cap of $3.04 trillion, a PE ratio of 73.46, a P/E/G ratio of 1.15 and a beta of 1.68. 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 issued its earnings results 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. The business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. On average, equities analysts anticipate that NVIDIA will post 2.53 earnings per share for the current year.

NVIDIA announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $128.17, for a total transaction of $576,765.00. Following the completion of the sale, the insider now directly owns 503,878 shares in the company, valued at $64,582,043.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $128.17, for a total transaction of $576,765.00. Following the completion of the sale, the insider now owns 503,878 shares of the company’s stock, valued at approximately $64,582,043.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 2,967,136 shares in the company, valued at $3,544,451,651.52. The disclosure for this sale can be found here. In the last three months, insiders sold 4,021,333 shares of company stock worth $599,173,182. 4.23% of the stock is currently owned by corporate insiders.

Institutional Trading of NVIDIA

Institutional investors and hedge funds have recently bought and sold shares of the company. Legal & General Group Plc boosted its stake in NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp raised its position in NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after buying an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of NVIDIA by 870.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after acquiring an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of NVIDIA by 1,123.2% during the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after purchasing an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in NVIDIA by 808.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after purchasing an additional 73,589,208 shares during the last quarter. 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.