NVIDIA (NASDAQ:NVDA) Price Target Raised to $175.00

NVIDIA (NASDAQ:NVDA) had its price objective hoisted by investment analysts at Oppenheimer from $150.00 to $175.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the computer hardware maker’s stock. Oppenheimer’s price objective points to a potential upside of 19.64% from the company’s current price.

NVDA has been the subject of several other reports. Loop Capital reaffirmed a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Monday, August 26th. Needham & Company LLC upped their price target on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Tuesday, October 8th. Rosenblatt Securities restated a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Finally, Truist Financial lifted their price target on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given 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 $151.88.

NVIDIA Stock Down 1.4 %

NVIDIA stock opened at $146.27 on Thursday. NVIDIA has a twelve month low of $45.01 and a twelve month high of $149.77. The company’s 50-day moving average price is $129.39 and its two-hundred day moving average price is $119.51. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.59 trillion, a P/E ratio of 68.61, a P/E/G ratio of 1.56 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period last year, the firm earned $0.25 earnings per share. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. As a group, analysts expect that NVIDIA will post 2.66 EPS for the current year.

NVIDIA declared that its board has authorized a stock repurchase program 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 buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $119.03, for a total value of $14,283,600.00. Following the transaction, the chief executive officer now owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Company insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. grew its stake in shares of NVIDIA by 52.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after acquiring an additional 13,135 shares during the last quarter. Crown Wealth Group LLC increased its stake in NVIDIA by 28.7% during the 1st quarter. Crown Wealth Group LLC now owns 3,586 shares of the computer hardware maker’s stock valued at $3,240,000 after purchasing an additional 800 shares in the last quarter. Harbor Advisors LLC raised its holdings in NVIDIA by 3.4% in the first quarter. Harbor Advisors LLC now owns 18,000 shares of the computer hardware maker’s stock worth $16,264,000 after buying an additional 600 shares during the last quarter. Presilium Private Wealth LLC bought a new position in shares of NVIDIA in the first quarter worth approximately $201,000. Finally, Better Money Decisions LLC grew its holdings in shares of NVIDIA by 4.8% during the first quarter. Better Money Decisions LLC now owns 727 shares of the computer hardware maker’s stock valued at $657,000 after buying an additional 33 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

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.