NVIDIA (NASDAQ:NVDA) PT Raised to $150.00

NVIDIA (NASDAQ:NVDA) had its price target boosted by equities research analysts at Morgan Stanley from $144.00 to $150.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the computer hardware maker’s stock. Morgan Stanley’s price target points to a potential upside of 25.66% from the company’s current price.

NVDA has been the subject of several other reports. Susquehanna increased their price target on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a report on Monday, June 10th. DZ Bank cut shares of NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 price target for the company. in a report on Friday, May 24th. Jefferies Financial Group increased their price target on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Piper Sandler increased their price target on shares of NVIDIA from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Finally, Loop Capital reissued a “buy” rating and set a $175.00 price target on shares of NVIDIA in a report on Monday, August 26th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

NVIDIA Price Performance

Shares of NVDA opened at $119.37 on Thursday. NVIDIA has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The company has a market capitalization of $2.94 trillion, a price-to-earnings ratio of 69.81, a price-to-earnings-growth ratio of 1.15 and a beta of 1.68. The firm has a 50-day simple moving average of $120.25 and a 200-day simple moving average of $102.80. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.14 and a current ratio of 3.53.

NVIDIA (NASDAQ:NVDA) last announced its earnings results 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 business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 earnings per share. On average, equities research analysts anticipate that NVIDIA will post 2.53 earnings per share for the current year.

NVIDIA announced that its Board of Directors has initiated a share buyback 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 usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other NVIDIA news, EVP Debora Shoquist sold 150,000 shares of NVIDIA stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $115.16, for a total value of $17,273,850.00. Following the transaction, the executive vice president now owns 1,553,630 shares in the company, valued at approximately $178,914,477.17. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other NVIDIA news, EVP Debora Shoquist sold 150,000 shares of NVIDIA stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $115.16, for a total value of $17,273,850.00. Following the transaction, the executive vice president now owns 1,553,630 shares in the company, valued at approximately $178,914,477.17. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Friday, August 9th. The shares were sold at an average price of $104.83, for a total transaction of $12,579,600.00. Following the completion of the transaction, the chief executive officer now owns 76,614,995 shares in the company, valued at approximately $8,031,549,925.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,021,333 shares of company stock worth $599,173,182. 4.23% of the stock is owned by insiders.

Hedge Funds Weigh In On NVIDIA

Hedge funds have recently made changes to their positions in the business. Baader Bank Aktiengesellschaft raised its stake in shares of NVIDIA by 34.9% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 44,214 shares of the computer hardware maker’s stock valued at $21,896,000 after acquiring an additional 11,445 shares during the period. Wealthspire Advisors LLC raised its stake in shares of NVIDIA by 16.3% in the 4th quarter. Wealthspire Advisors LLC now owns 12,278 shares of the computer hardware maker’s stock valued at $6,080,000 after acquiring an additional 1,724 shares during the period. Shared Vision Wealth Group LLC purchased a new position in shares of NVIDIA in the 4th quarter valued at $269,000. Grand Alliance Asset Management Ltd purchased a new position in shares of NVIDIA in the 4th quarter valued at $29,961,000. Finally, OMNI 360 Wealth Inc. purchased a new position in shares of NVIDIA in the 4th quarter valued at $240,000. Hedge funds and other 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.