NVIDIA (NASDAQ:NVDA) Given New $300.00 Price Target at Rosenblatt Securities

NVIDIA (NASDAQ:NVDA) had its target price reduced by Rosenblatt Securities from $390.00 to $300.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the computer hardware maker’s stock. Rosenblatt Securities‘s price target would suggest a potential upside of 84.22% from the company’s current price.

Several other equities research analysts also recently commented on the stock. New Street Research restated a “buy” rating on shares of NVIDIA in a research report on Thursday. Phillip Securities increased their target price on NVIDIA from $285.00 to $300.00 and gave the company a “buy” rating in a report on Monday, August 31st. Wall Street Zen cut NVIDIA from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 24th. HSBC downgraded NVIDIA from a “buy” rating to a “hold” rating and set a $170.00 price target on the stock. in a report on Friday. Finally, Evercore lowered NVIDIA from an “outperform” rating to a “positive” rating and set a $186.00 price target on the stock. in a research report on Wednesday. Five analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $276.77.

NVIDIA Trading Down 2.0%

Shares of NASDAQ NVDA traded down $3.34 during mid-day trading on Friday, hitting $162.85. 361,620,691 shares of the company traded hands, compared to its average volume of 156,557,719. NVIDIA has a 1 year low of $148.80 and a 1 year high of $243.37. The stock has a market capitalization of $3.92 trillion, a price-to-earnings ratio of 20.59, a PEG ratio of 1.34 and a beta of 2.21. The company has a quick ratio of 3.85, a current ratio of 4.59 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average of $215.96 and a two-hundred day moving average of $204.25.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.13. The firm had revenue of $96.22 billion for the quarter, compared to analysts’ expectations of $92.27 billion. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. NVIDIA’s revenue was up 105.9% on a year-over-year basis. During the same quarter last year, the business posted $1.05 EPS. On average, sell-side analysts anticipate that NVIDIA will post 9.29 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has initiated a share buyback program on Monday, September 28th that allows the company to repurchase $150 billion in shares. This repurchase authorization allows the computer hardware maker to repurchase up to 2.8% of its shares through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at NVIDIA

In other news, Director Mark Stevens sold 622,239 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $231.62, for a total transaction of $144,122,997.18. Following the transaction, the director owned 2,336,531 shares of the company’s stock, valued at approximately $541,187,310.22. This represents a 21.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Timothy Teter sold 30,460 shares of the business’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $222.80, for a total transaction of $6,786,488.00. Following the transaction, the executive vice president directly owned 2,687,660 shares of the company’s stock, valued at approximately $598,810,648. This represents a 1.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 1,766,118 shares of company stock worth $399,450,353. 3.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently modified their holdings of NVDA. Jupiter Topco LLC bought a new position in shares of NVIDIA in the second quarter valued at approximately $16,156,076,000. Van ECK Associates Corp increased its holdings in NVIDIA by 34.7% in the second quarter. Van ECK Associates Corp now owns 75,849,721 shares of the computer hardware maker’s stock valued at $15,176,771,000 after purchasing an additional 19,522,304 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in NVIDIA in the third quarter worth $3,921,459,000. State Street Corp raised its position in shares of NVIDIA by 1.6% during the second quarter. State Street Corp now owns 1,009,783,437 shares of the computer hardware maker’s stock worth $202,047,568,000 after purchasing an additional 15,897,836 shares during the period. Finally, Amundi boosted its holdings in shares of NVIDIA by 10.4% in the first quarter. Amundi now owns 133,768,018 shares of the computer hardware maker’s stock valued at $23,329,141,000 after buying an additional 12,575,177 shares during the period. Institutional investors own 65.27% of the company’s stock.

Trending Headlines about NVIDIA

Here are a few of the latest headlines about NVDA:

• Positive Sentiment: Some analysts still see substantial recovery potential: two reportedly set $300 price targets, while broader analyst coverage remains largely positive. Those forecasts offer a bullish counterpoint, although targets have also been cut sharply. 1 Wall Street Analyst Says Nvidia Will Double From Here. Are They Right?
• Neutral Sentiment: NVIDIA has not yet selected a search firm to find a permanent CEO; CFO Colette Kress remains interim chief. The board says operations and the product roadmap should continue uninterrupted, but investors may look to the November 17 earnings and guidance for evidence of stability. Nvidia hasn’t selected search firm for permanent Huang replacement
• Negative Sentiment: Analysts have been lowering price targets, and the leadership turmoil is weighing on AI-related shares more broadly. A pending securities class action adds another risk, though it does not establish wrongdoing. Wall Street Is Writing Off Nvidia Stock. Here’s Why That’s a Mistake.

NVIDIA Company Profile

NVIDIA Corporation develops graphics processing units (GPUs), accelerated computing platforms and related software. Founded in 1993, the company first became widely known for GPUs used in PC gaming and professional graphics. Its technology now also supports artificial intelligence, scientific computing and other data-intensive applications. NVIDIA’s offerings include GeForce products for gaming, data-center GPUs and systems for AI workloads, and networking products that connect computing infrastructure.