NVIDIA (NASDAQ:NVDA) Price Target Raised to $165.00

by · The Markets Daily

NVIDIA (NASDAQ:NVDA – Free Report) had its price objective raised by Mizuho from $140.00 to $165.00 in a report published on Tuesday,Benzinga reports. Mizuho currently has an outperform rating on the computer hardware maker’s stock.

NVDA has been the topic of a number of other reports. Craig Hallum raised their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. HSBC boosted their target price on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Bank of America raised their price target on NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Melius Research raised their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday. Finally, Robert W. Baird upped their price target on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Five equities research 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $152.40.

View Our Latest Report on NVIDIA

NVIDIA Trading Down 2.5 %

Shares of NASDAQ NVDA traded down $3.71 during midday trading on Tuesday, hitting $143.05. The stock had a trading volume of 95,234,172 shares, compared to its average volume of 398,863,719. The firm has a market cap of $3.51 trillion, a P/E ratio of 66.95, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. NVIDIA has a fifty-two week low of $45.01 and a fifty-two week high of $149.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company’s 50-day simple moving average is $130.18 and its 200 day simple moving average is $119.70.

NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings data 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. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same period last year, the company earned $0.25 earnings per share. The company’s revenue was up 122.4% on a year-over-year basis. Research analysts anticipate that NVIDIA will post 2.66 EPS for the current year.

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

NVIDIA Cuts Dividend

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the sale, the chief executive officer now directly owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Lowe Wealth Advisors LLC acquired a new position in NVIDIA during the 2nd quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. lifted its stake in shares of NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares in the last quarter. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA during the first quarter valued at about $26,000. CGC Financial Services LLC bought a new stake in shares of NVIDIA during the second quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA in the 1st quarter worth about $27,000. 65.27% of the stock is owned by institutional investors.

About NVIDIA

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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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