NVIDIA (NASDAQ:NVDA) Stock Price Expected to Rise, Susquehanna Analyst Says

NVIDIA (NASDAQ:NVDA) had its target price raised by Susquehanna from $160.00 to $180.00 in a research report released on Thursday morning,Benzinga reports. They currently have a positive rating on the computer hardware maker’s stock.

Several other equities analysts have also issued reports on the stock. Citigroup boosted their price target on shares of NVIDIA from $150.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday. Bank of America increased their price target on NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Needham & Company LLC lifted their target price on NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Rosenblatt Securities reissued a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Finally, William Blair initiated coverage on NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $152.40.

NVIDIA Trading Down 3.3 %

NASDAQ NVDA traded down $4.78 during trading hours on Thursday, hitting $141.98. The company’s stock had a trading volume of 246,946,036 shares, compared to its average volume of 399,397,188. NVIDIA has a twelve month low of $45.01 and a twelve month high of $149.77. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $3.48 trillion, a P/E ratio of 66.95, a PEG ratio of 1.54 and a beta of 1.66. The stock has a fifty day moving average of $130.18 and a 200 day moving average of $119.70.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the prior year, the business posted $0.25 EPS. NVIDIA’s revenue was up 122.4% on a year-over-year basis. Equities research analysts forecast that NVIDIA will post 2.66 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the transaction, the chief executive officer now owns 76,494,995 shares in the company, valued at $9,105,199,254.85. The trade was a 0.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in NVIDIA by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after purchasing an additional 8,828,050 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after buying an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after acquiring an additional 163,482,580 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of NVIDIA by 3.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock worth $21,908,236,000 after acquiring an additional 6,526,200 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in NVIDIA by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock valued at $17,738,630,000 after acquiring an additional 2,042,348 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

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.