NVIDIA (NASDAQ:NVDA) Stock Rating Reaffirmed by UBS Group

NVIDIA (NASDAQ:NVDAGet Free Report)‘s stock had its “buy” rating reiterated by investment analysts at UBS Group in a report issued on Tuesday, Benzinga reports. They presently have a $150.00 price target on the computer hardware maker’s stock. UBS Group’s target price indicates a potential upside of 13.08% from the stock’s current price.

A number of other analysts have also commented on NVDA. Morgan Stanley boosted their target price on NVIDIA from $144.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Truist Financial upped their target price on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Argus lifted their price target on shares of NVIDIA from $110.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Citigroup upped their price objective on shares of NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, Robert W. Baird lifted their price objective 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 analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $142.10.

Read Our Latest Stock Report on NVDA

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $132.65 on Tuesday. The company has a market capitalization of $3.26 trillion, a PE ratio of 77.57, a P/E/G ratio of 1.05 and a beta of 1.67. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $117.17 and a 200 day simple moving average of $110.01. NVIDIA has a twelve month low of $39.23 and a twelve month high of $140.76.

NVIDIA (NASDAQ:NVDAGet Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s revenue was up 122.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 earnings per share. On average, sell-side analysts forecast that NVIDIA will post 2.65 EPS for the current year.

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

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 125,000 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the sale, the director now directly owns 8,255,117 shares in the company, valued at approximately $1,012,159,895.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Mark A. Stevens sold 125,000 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the sale, the director now directly owns 8,255,117 shares in the company, valued at $1,012,159,895.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the completion of the transaction, the director now owns 8,380,117 shares of the company’s stock, valued at $1,014,077,958.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,577,403 shares of company stock valued at $420,166,534 over the last three months. Company insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Institutional investors and hedge funds have recently made changes to their positions in the business. Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA during the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. lifted its position in NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares during the last quarter. FPC Investment Advisory Inc. purchased a new position in NVIDIA in the 1st quarter worth approximately $26,000. CGC Financial Services LLC bought a new position in shares of NVIDIA in the 2nd quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA during the 1st quarter valued at $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.

Further Reading

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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