Mizuho Raises NVIDIA (NASDAQ:NVDA) Price Target to $175.00

NVIDIA (NASDAQ:NVDA) had its target price boosted by stock analysts at Mizuho from $165.00 to $175.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the computer hardware maker’s stock. Mizuho’s price objective points to a potential upside of 22.17% from the company’s current price.

NVDA has been the subject of a number of other reports. Barclays lifted their price objective on NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday. DA Davidson reiterated a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Tuesday, August 6th. Finally, William Blair initiated coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $160.46.

NVIDIA Stock Down 1.8 %

NVDA traded down $2.65 during trading on Thursday, hitting $143.24. The company had a trading volume of 238,313,203 shares, compared to its average volume of 396,931,688. The company has a market cap of $3.51 trillion, a PE ratio of 67.59, a P/E/G ratio of 1.54 and a beta of 1.66. NVIDIA has a 1-year low of $45.01 and a 1-year high of $152.89. The business has a 50-day moving average of $133.00 and a 200-day moving average of $121.54. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

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

NVIDIA announced that its board has approved a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock worth $254,784,327 over the last ninety days. Company insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. increased its holdings in NVIDIA by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after purchasing an additional 13,135 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of NVIDIA by 23.0% during the first quarter. Empowered Funds LLC now owns 71,262 shares of the computer hardware maker’s stock worth $64,389,000 after purchasing an additional 13,315 shares during the period. Allen Investment Management LLC increased its position in NVIDIA by 20.2% during the 1st quarter. Allen Investment Management LLC now owns 65,718 shares of the computer hardware maker’s stock worth $59,380,000 after purchasing an additional 11,047 shares during the period. Monolith Management Ltd grew its position in NVIDIA by 266.8% during the first quarter. Monolith Management Ltd now owns 70,250 shares of the computer hardware maker’s stock worth $63,475,000 after buying an additional 51,100 shares during the period. Finally, Mitsubishi UFJ Asset Management UK Ltd. lifted its holdings in shares of NVIDIA by 155.3% in the first quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 9,700 shares of the computer hardware maker’s stock valued at $8,765,000 after purchasing an additional 5,900 shares in the last quarter. 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.