NVIDIA (NASDAQ:NVDA) Price Target Raised to $160.00

by · The Markets Daily

NVIDIA (NASDAQ:NVDA – Free Report) had its price target raised by Barclays from $145.00 to $160.00 in a report released on Thursday, Marketbeat Ratings reports. Barclays currently has an overweight rating on the computer hardware maker’s stock.

NVDA has been the topic of a number of other reports. Stifel Nicolaus lifted their price objective on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Mizuho raised their target price on NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Melius Research upped their price target on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. HSBC boosted their target price on shares of NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Susquehanna upped their target price on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Read Our Latest Stock Analysis on NVIDIA

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $141.95 on Thursday. NVIDIA has a one year low of $45.01 and a one year high of $152.89. The company has a current ratio of 4.10, a quick ratio of 3.79 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $134.01 and a 200 day simple moving average of $122.28. The firm has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 55.89, a PEG ratio of 1.53 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the prior year, the company posted $0.38 EPS. The business’s revenue was up 93.6% on a year-over-year basis. Sell-side analysts expect that NVIDIA will post 2.68 EPS for the current year.

NVIDIA declared that its board has authorized a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on 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 completion of 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. This represents a 1.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was 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 trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NVDA. China Universal Asset Management Co. Ltd. lifted its position 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 purchasing an additional 13,135 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of NVIDIA by 23.0% during the 1st quarter. Empowered Funds LLC now owns 71,262 shares of the computer hardware maker’s stock worth $64,389,000 after buying an additional 13,315 shares during the last quarter. Allen Investment Management LLC increased its position in shares of NVIDIA by 20.2% in the first quarter. Allen Investment Management LLC now owns 65,718 shares of the computer hardware maker’s stock valued at $59,380,000 after acquiring an additional 11,047 shares during the last quarter. Monolith Management Ltd raised its holdings in NVIDIA by 266.8% during the first quarter. Monolith Management Ltd now owns 70,250 shares of the computer hardware maker’s stock worth $63,475,000 after acquiring an additional 51,100 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. boosted its position in NVIDIA by 155.3% during the first quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 9,700 shares of the computer hardware maker’s stock valued at $8,765,000 after purchasing an additional 5,900 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Company Profile

(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.

Read More