NVIDIA (NASDAQ:NVDA) Price Target Raised to $175.00 at Mizuho

NVIDIA (NASDAQ:NVDA) had its price objective boosted by equities researchers at Mizuho from $165.00 to $175.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the computer hardware maker’s stock. Mizuho’s price objective would suggest a potential upside of 23.28% from the company’s current price.

Several other research analysts have also recently weighed in on NVDA. TD Cowen upped their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday. Evercore ISI upped their price target on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday. UBS Group lifted their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Redburn Atlantic began coverage on shares of NVIDIA in a report on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price for the company. Finally, Piper Sandler lifted their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Price Performance

NASDAQ NVDA opened at $141.95 on Thursday. 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 stock has a market cap of $3.48 trillion, a price-to-earnings ratio of 66.58, a PEG ratio of 1.54 and a beta of 1.66. The business has a 50 day simple moving average of $134.01 and a 200 day simple moving average of $122.06. NVIDIA has a 52-week low of $45.01 and a 52-week high of $152.89.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Analysts anticipate that NVIDIA will post 2.68 earnings per share for the current fiscal year.

NVIDIA declared that its board has approved a stock repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the completion of the transaction, the chief executive officer now directly owns 75,895,836 shares in the company, valued at $7,994,108,405.88. The trade was a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $57,370,572.59. This represents a 0.91 % 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 corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NVDA. University of Texas Texas AM Investment Management Co. grew its stake in shares of NVIDIA by 897.5% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after buying an additional 107,169 shares during the last quarter. Truepoint Inc. boosted its holdings in shares of NVIDIA by 914.1% during the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after acquiring an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. grew its position in NVIDIA by 683.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after acquiring an additional 208,362 shares during the last quarter. Legal & General Group Plc increased its holdings in NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares in the last quarter. Finally, Lombard Odier Asset Management Europe Ltd raised its position in NVIDIA by 1,106.0% in the second quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock valued at $65,758,000 after purchasing an additional 488,148 shares during the last quarter. 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.