NVIDIA (NASDAQ:NVDA) Reaches New 52-Week High on Analyst Upgrade

NVIDIA Corporation (NASDAQ:NVDA)’s share price hit a new 52-week high during trading on Wednesday after Jefferies Financial Group raised their price target on the stock from $185.00 to $200.00. The company traded as high as $172.40 and last traded at $170.70, with a volume of 229902790 shares. The stock had previously closed at $164.07.

Several other equities analysts have also issued reports on NVDA. DA Davidson boosted their target price on NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, May 29th. TD Cowen lifted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. Mizuho set a $192.00 target price on shares of NVIDIA and gave the stock an “outperform” rating in a report on Tuesday. Finally, Citigroup boosted their price target on shares of NVIDIA from $180.00 to $190.00 and gave the company a “buy” rating in a report on Monday, July 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.22.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the business’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the transaction, the executive vice president owned 4,018,547 shares of the company’s stock, valued at $613,391,014.08. The trade was a 4.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the sale, the chief executive officer directly owned 75,548,225 shares of the company’s stock, valued at approximately $11,524,126,241.50. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,767,150 shares of company stock valued at $701,030,045. Corporate insiders own 4.17% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors have recently added to or reduced their stakes in the company. Pachira Investments Inc. raised its holdings in shares of NVIDIA by 1.0% in the 2nd quarter. Pachira Investments Inc. now owns 6,450 shares of the computer hardware maker’s stock valued at $1,019,000 after purchasing an additional 63 shares during the period. HFG Wealth Management LLC raised its stake in NVIDIA by 3.4% in the second quarter. HFG Wealth Management LLC now owns 2,075 shares of the computer hardware maker’s stock valued at $328,000 after buying an additional 68 shares during the period. Hidden Cove Wealth Management LLC lifted its position in shares of NVIDIA by 0.3% in the second quarter. Hidden Cove Wealth Management LLC now owns 23,778 shares of the computer hardware maker’s stock valued at $3,757,000 after buying an additional 69 shares during the last quarter. Burkett Financial Services LLC lifted its position in shares of NVIDIA by 1.3% in the second quarter. Burkett Financial Services LLC now owns 5,450 shares of the computer hardware maker’s stock valued at $861,000 after buying an additional 70 shares during the last quarter. Finally, Guided Capital Wealth Management LLC boosted its stake in shares of NVIDIA by 0.3% during the 2nd quarter. Guided Capital Wealth Management LLC now owns 27,858 shares of the computer hardware maker’s stock worth $4,401,000 after acquiring an additional 70 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Price Performance

The business has a fifty day moving average of $144.76 and a two-hundred day moving average of $129.39. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The firm has a market capitalization of $4.18 trillion, a price-to-earnings ratio of 55.28, a price-to-earnings-growth ratio of 1.51 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 earnings per share. As a group, research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.02%. NVIDIA’s dividend payout ratio is currently 1.29%.

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.