NVIDIA (NASDAQ:NVDA) Given Outperform Rating at Wedbush

NVIDIA (NASDAQ:NVDA)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a research note issued to investors on Thursday,RTT News reports. They presently have a $175.00 price target on the computer hardware maker’s stock. Wedbush’s price objective indicates a potential upside of 30.25% from the company’s previous close.

Several other research analysts have also issued reports on the stock. Morgan Stanley cut their target price on shares of NVIDIA from $166.00 to $152.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Susquehanna increased their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Oppenheimer reaffirmed an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Bank of America reiterated a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Finally, Loop Capital restated a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a report on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $168.21.

NVIDIA Trading Down 4.1 %

NASDAQ NVDA opened at $134.35 on Thursday. The stock has a market capitalization of $3.29 trillion, a P/E ratio of 52.87, a P/E/G ratio of 1.75 and a beta of 1.62. The business has a 50 day simple moving average of $134.66 and a 200 day simple moving average of $131.14. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA has a one year low of $74.22 and a one year high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 EPS. Research analysts expect that NVIDIA will post 2.77 earnings per share for the current year.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the sale, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now directly owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Several institutional investors have recently made changes to their positions in NVDA. University of Texas Texas AM Investment Management Co. increased its position in shares of NVIDIA by 897.5% during 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 buying an additional 107,169 shares during the period. Westwood Holdings Group Inc. grew its stake in NVIDIA by 683.9% during the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after acquiring an additional 208,362 shares in the last quarter. Palisade Asset Management LLC increased its holdings in NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after acquiring an additional 75 shares during the period. Blue Square Asset Management LLC lifted its stake in NVIDIA by 26.7% in the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after purchasing an additional 10,136 shares in the last quarter. Finally, Narwhal Capital Management boosted its holdings in NVIDIA by 5.1% in the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after purchasing an additional 26,373 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

About NVIDIA

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.