Redburn Atlantic Begins Coverage on NVIDIA (NASDAQ:NVDA)

Analysts at Redburn Atlantic assumed coverage on shares of NVIDIA (NASDAQ:NVDA) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $178.00 price target on the computer hardware maker’s stock. Redburn Atlantic’s price target points to a potential upside of 21.69% from the stock’s current price.

Several other equities research analysts have also issued reports on NVDA. Melius Research raised their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday. William Blair began coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Morgan Stanley upped their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday. 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 note on Thursday, August 29th. Finally, Wedbush reissued an “outperform” rating and issued a $138.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $147.48.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $146.27 on Tuesday. The firm has a market capitalization of $3.59 trillion, a P/E ratio of 68.61, a price-to-earnings-growth ratio of 1.56 and a beta of 1.66. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The business’s fifty day simple moving average is $128.59 and its 200 day simple moving average is $119.33. NVIDIA has a 12 month low of $45.01 and a 12 month high of $149.77.

NVIDIA (NASDAQ:NVDA) last released its 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. The company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS. As a group, analysts anticipate that NVIDIA will post 2.66 EPS for the current year.

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total value of $13,291,200.00. Following the transaction, the chief executive officer now owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock valued at $254,784,327 in the last quarter. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Institutional investors and hedge funds have recently bought and sold shares of the stock. Providence Capital Advisors LLC raised its position in shares of NVIDIA by 1.3% in the 3rd quarter. Providence Capital Advisors LLC now owns 75,237 shares of the computer hardware maker’s stock worth $9,137,000 after acquiring an additional 989 shares in the last quarter. WFA of San Diego LLC boosted its position in shares of NVIDIA by 11.5% during the third quarter. WFA of San Diego LLC now owns 8,212 shares of the computer hardware maker’s stock valued at $997,000 after purchasing an additional 850 shares in the last quarter. National Wealth Management Group LLC grew its stake in NVIDIA by 1.7% in the third quarter. National Wealth Management Group LLC now owns 40,253 shares of the computer hardware maker’s stock worth $4,888,000 after purchasing an additional 679 shares during the period. Bell Investment Advisors Inc raised its holdings in NVIDIA by 1.9% in the third quarter. Bell Investment Advisors Inc now owns 12,638 shares of the computer hardware maker’s stock worth $1,535,000 after purchasing an additional 238 shares in the last quarter. Finally, CreativeOne Wealth LLC lifted its position in NVIDIA by 52.7% during the third quarter. CreativeOne Wealth LLC now owns 281,252 shares of the computer hardware maker’s stock valued at $34,155,000 after buying an additional 97,111 shares during the period. 65.27% of the stock is currently owned by hedge funds and other 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.