NVIDIA (NASDAQ:NVDA) Given Buy Rating at Loop Capital

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reiterated by equities researchers at Loop Capital in a report released on Wednesday,Benzinga reports. They currently have a $175.00 price target on the computer hardware maker’s stock. Loop Capital’s price objective indicates a potential upside of 20.63% from the company’s current price.

A number of other equities analysts have also recently weighed in on NVDA. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 price target on shares of NVIDIA in a research report on Monday, August 5th. TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Melius Research lifted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. boosted their price objective 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, Morgan Stanley increased their price target on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $154.63.

NVIDIA Price Performance

NVDA traded down $1.94 during midday trading on Wednesday, reaching $145.07. 140,945,641 shares of the company’s stock were exchanged, compared to its average volume of 396,885,875. The firm has a market capitalization of $3.56 trillion, a price-to-earnings ratio of 68.06, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. NVIDIA has a one year low of $45.01 and a one year high of $149.77. The business has a 50-day simple moving average of $132.42 and a two-hundred day simple moving average of $121.37.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data 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. The company had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s revenue was up 122.4% on a year-over-year basis. During the same quarter last year, the business posted $0.25 earnings per share. As a group, research analysts predict that NVIDIA will post 2.67 EPS for the current year.

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

Insider Activity at NVIDIA

In other NVIDIA 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 value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 14.59 % 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. Also, CEO Jen Hsun Huang sold 120,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 over the last ninety days. Insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. raised its stake in shares of NVIDIA by 897.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after buying an additional 107,169 shares during the period. Truepoint Inc. raised its stake in shares of NVIDIA by 914.1% in the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after buying an additional 11,709 shares during the period. Westwood Holdings Group Inc. raised its stake in shares of NVIDIA by 683.9% in the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after buying an additional 208,362 shares during the period. Legal & General Group Plc raised its stake in shares of NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after buying an additional 191,469,114 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd raised its stake in shares of NVIDIA by 1,106.0% in the second quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock worth $65,758,000 after buying an additional 488,148 shares during the period. Institutional investors own 65.27% of the company’s stock.

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.