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

NVIDIA (NASDAQ:NVDA) had its target price upped by Needham & Company LLC from $145.00 to $160.00 in a research report report published on Thursday, Marketbeat.com reports. They currently have a buy rating on the computer hardware maker’s stock.

A number of other research firms also recently weighed in on NVDA. Loop Capital reaffirmed a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research note on Wednesday. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a report on Monday, November 18th. Susquehanna upped their price target on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Wells Fargo & Company raised their price objective on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, HSBC increased their target price on shares of NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Price Performance

NVDA stock opened at $141.95 on Thursday. The stock has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 55.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA has a 52-week low of $45.01 and a 52-week high of $152.89. The stock’s fifty day simple moving average is $134.01 and its 200-day simple moving average is $122.28.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period last year, the company earned $0.38 EPS. Equities research analysts expect that NVIDIA will post 2.68 EPS for the current year.

NVIDIA declared that its Board of Directors has approved a share buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the transaction, the chief executive officer now owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. This represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 over the last three months. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Large investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. lifted its holdings in 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 during the period. Empowered Funds LLC raised its position 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 in the last quarter. Allen Investment Management LLC lifted its stake in shares of NVIDIA by 20.2% in the 1st quarter. Allen Investment Management LLC now owns 65,718 shares of the computer hardware maker’s stock worth $59,380,000 after acquiring an additional 11,047 shares during the period. Monolith Management Ltd boosted its holdings in shares of NVIDIA by 266.8% in the first quarter. Monolith Management Ltd now owns 70,250 shares of the computer hardware maker’s stock valued at $63,475,000 after acquiring an additional 51,100 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. lifted its position in NVIDIA by 155.3% in the first quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 9,700 shares of the computer hardware maker’s stock worth $8,765,000 after purchasing an additional 5,900 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.