NVIDIA (NASDAQ:NVDA) Given New $175.00 Price Target at Piper Sandler

by · The Cerbat Gem

NVIDIA (NASDAQ:NVDA – Free Report) had its target price hoisted by Piper Sandler from $140.00 to $175.00 in a report issued on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the computer hardware maker’s stock.

A number of other analysts have also weighed in on NVDA. Westpark Capital raised their price target on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. DA Davidson restated a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 price objective on shares of NVIDIA in a research report on Monday, August 5th. Finally, Robert W. Baird upped their target price on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $152.40.

Read Our Latest Research Report on NVDA

NVIDIA Price Performance

NVIDIA stock opened at $146.76 on Monday. NVIDIA has a 52 week low of $45.01 and a 52 week high of $149.77. The firm has a market cap of $3.60 trillion, a P/E ratio of 68.90, a P/E/G ratio of 1.54 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The business’s fifty day moving average is $129.39 and its two-hundred day moving average is $119.51.

NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 EPS. Equities research analysts forecast that NVIDIA will post 2.66 earnings per share for the current fiscal year.

NVIDIA declared that its board has authorized a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is 1.88%.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock worth $254,784,327 in the last 90 days. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Large investors have recently added to or reduced their stakes in the business. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA during the 2nd quarter worth about $25,000. DHJJ Financial Advisors Ltd. lifted its position in NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the last quarter. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA during the first quarter worth approximately $26,000. CGC Financial Services LLC acquired a new position in shares of NVIDIA in the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA during the first quarter worth approximately $27,000. Institutional investors own 65.27% of the company’s stock.

About NVIDIA

(Get Free Report)

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.

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