NVIDIA (NASDAQ:NVDA) Receives “Outperform” Rating from Oppenheimer

NVIDIA (NASDAQ:NVDA)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Oppenheimer in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $175.00 target price on the computer hardware maker’s stock. Oppenheimer’s target price suggests a potential upside of 19.94% from the company’s current price.

Other equities analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a report on Monday, August 5th. DA Davidson reiterated a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Craig Hallum upped their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. UBS Group boosted their price objective on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Westpark Capital raised their target price on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $159.15.

NVIDIA Stock Performance

Shares of NVDA stock traded up $0.02 during trading on Thursday, hitting $145.91. The company’s stock had a trading volume of 115,370,109 shares, compared to its average volume of 396,387,688. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market cap of $3.58 trillion, a PE ratio of 67.47, a P/E/G ratio of 1.54 and a beta of 1.66. The business has a fifty day moving average of $133.00 and a 200-day moving average of $121.54. NVIDIA has a 52 week low of $45.01 and a 52 week high of $152.89.

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

NVIDIA announced that its board has authorized a share repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the completion of the sale, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at approximately $7,994,108,405.88. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. lifted its holdings in NVIDIA by 897.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after acquiring an additional 107,169 shares during the period. Truepoint Inc. lifted its stake in shares of NVIDIA by 914.1% in the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after purchasing an additional 11,709 shares during the period. Westwood Holdings Group Inc. boosted its holdings in shares of NVIDIA by 683.9% in the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after buying an additional 208,362 shares during the last quarter. Legal & General Group Plc raised its position in NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after acquiring an additional 191,469,114 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd boosted its stake in shares of NVIDIA by 1,106.0% during the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock worth $65,758,000 after acquiring an additional 488,148 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Company Profile

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.