NVIDIA (NASDAQ:NVDA) PT Raised to $150.00

NVIDIA (NASDAQ:NVDA) had its price objective hoisted by analysts at Robert W. Baird from $120.00 to $150.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the computer hardware maker’s stock. Robert W. Baird’s price target would suggest a potential upside of 25.66% from the company’s previous close.

NVDA has been the topic of a number of other research reports. Melius Research lifted their price objective on NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a report on Friday, June 21st. Citigroup boosted their price target on NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Wells Fargo & Company boosted their price target on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday. DZ Bank lowered NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 price target on the stock. in a research note on Friday, May 24th. Finally, HSBC boosted their price target on NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Price Performance

Shares of NVDA opened at $119.37 on Thursday. NVIDIA has a twelve month low of $39.23 and a twelve month high of $140.76. The stock’s 50 day moving average is $120.25 and its two-hundred day moving average is $102.80. The firm has a market capitalization of $2.94 trillion, a PE ratio of 69.81, a P/E/G ratio of 1.15 and a beta of 1.68. The company has a current ratio of 3.53, a quick ratio of 3.14 and a debt-to-equity ratio of 0.17.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the previous year, the company earned $0.25 EPS. The firm’s revenue for the quarter was up 122.4% compared to the same quarter last year. Research analysts anticipate that NVIDIA will post 2.53 earnings per share for the current year.

NVIDIA announced that its board has approved a share repurchase 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 purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 385,000 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the completion of the sale, the director now directly owns 9,141,240 shares in the company, valued at approximately $1,195,125,717.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Mark A. Stevens sold 385,000 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the completion of the sale, the director now directly owns 9,141,240 shares in the company, valued at approximately $1,195,125,717.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $104.83, for a total value of $12,579,600.00. Following the sale, the chief executive officer now owns 76,614,995 shares of the company’s stock, valued at $8,031,549,925.85. The disclosure for this sale can be found here. Insiders sold a total of 4,021,333 shares of company stock worth $599,173,182 in the last ninety days. Insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

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

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.