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NVIDIA (NASDAQ:NVDA – Get Free Report)‘s stock had its “buy” rating restated by stock analysts at Royal Bank Of Canada in a research report issued to clients and investors on Thursday, Marketbeat.com reports.
Other equities analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft upped their target price on NVIDIA from $180.00 to $215.00 and gave the company a “hold” rating in a report on Thursday, November 20th. Citigroup reaffirmed a “buy” rating on shares of NVIDIA in a research report on Monday, December 29th. Zacks Research cut shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Wolfe Research raised their price objective on shares of NVIDIA from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Finally, Oppenheimer reissued an “outperform” rating and issued a $265.00 target price on shares of NVIDIA in a research report on Thursday, November 20th. Four research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $263.41.
Check Out Our Latest Analysis on NVDA
NVIDIA Trading Down 0.3%
Shares of NVDA opened at $186.54 on Thursday. The firm has a fifty day simple moving average of $184.23 and a two-hundred day simple moving average of $180.61. NVIDIA has a twelve month low of $86.62 and a twelve month high of $212.19. The stock has a market capitalization of $4.53 trillion, a P/E ratio of 46.29, a PEG ratio of 0.91 and a beta of 2.31. The company has a quick ratio of 3.71, a current ratio of 4.47 and a debt-to-equity ratio of 0.06.
NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.07. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The company had revenue of $57.01 billion during the quarter, compared to analyst estimates of $54.66 billion. During the same period in the prior year, the business posted $0.81 earnings per share. NVIDIA’s revenue for the quarter was up 62.5% on a year-over-year basis. On average, research analysts anticipate that NVIDIA will post 2.77 EPS for the current year.
Insiders Place Their Bets
In related news, Director Mark A. Stevens sold 222,500 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $180.17, for a total transaction of $40,087,825.00. Following the sale, the director directly owned 7,621,453 shares of the company’s stock, valued at approximately $1,373,157,187.01. This represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 200,000 shares of NVIDIA stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $187.82, for a total transaction of $37,564,000.00. Following the completion of the transaction, the executive vice president directly owned 3,818,547 shares of the company’s stock, valued at $717,199,497.54. This trade represents a 4.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,734,114 shares of company stock valued at $317,034,081. Company insiders own 4.17% of the company’s stock.
Hedge Funds Weigh In On NVIDIA
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVDA. State Street Corp raised its position in NVIDIA by 1.0% in the 2nd quarter. State Street Corp now owns 978,208,862 shares of the computer hardware maker’s stock worth $154,556,803,000 after buying an additional 9,554,857 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of NVIDIA by 1.5% during the second quarter. Geode Capital Management LLC now owns 579,213,497 shares of the computer hardware maker’s stock valued at $91,150,170,000 after purchasing an additional 8,521,936 shares during the last quarter. Kingstone Capital Partners Texas LLC lifted its position in NVIDIA by 267,959.7% during the second quarter. Kingstone Capital Partners Texas LLC now owns 382,373,765 shares of the computer hardware maker’s stock valued at $64,976,521,000 after purchasing an additional 382,231,120 shares during the period. Norges Bank purchased a new stake in NVIDIA in the second quarter worth approximately $51,386,863,000. Finally, Legal & General Group Plc grew its position in NVIDIA by 1.5% in the 3rd quarter. Legal & General Group Plc now owns 181,203,035 shares of the computer hardware maker’s stock worth $33,808,862,000 after purchasing an additional 2,609,560 shares during the period. 65.27% of the stock is owned by institutional investors.
Key Stories Impacting NVIDIA
Here are the key news stories impacting NVIDIA this week:
About NVIDIA
NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.
The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.
Featured Stories
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