NVIDIA (NASDAQ:NVDA) Earns Buy Rating from Analysts at Redburn Atlantic

Stock analysts at Redburn Atlantic started coverage on shares of NVIDIA (NASDAQ:NVDA) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $178.00 price target on the computer hardware maker’s stock. Redburn Atlantic’s target price indicates a potential upside of 21.69% from the stock’s current price.

Other analysts have also issued research reports about the company. Piper Sandler lifted their target price on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday. William Blair initiated coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. HSBC upped their target price on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. boosted their target price on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Needham & Company LLC increased their price objective on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.48.

NVIDIA Stock Down 1.4 %

Shares of NASDAQ:NVDA opened at $146.27 on Tuesday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $128.59 and a two-hundred day simple moving average of $119.33. NVIDIA has a 12-month low of $45.01 and a 12-month high of $149.77. The stock has a market capitalization of $3.59 trillion, a price-to-earnings ratio of 68.61, a PEG ratio of 1.56 and a beta of 1.66.

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

NVIDIA declared that its board has initiated a share buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the sale, the chief executive officer now directly owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA 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 directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total value of $13,291,200.00. Following the transaction, the chief executive officer now directly owns 76,375,705 shares in the company, valued at $8,459,373,085.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 in the last quarter. 4.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hamilton Wealth LLC boosted its position in NVIDIA by 0.3% during the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after acquiring an additional 9 shares in the last quarter. Curran Financial Partners LLC boosted its position in NVIDIA by 1.8% during the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after purchasing an additional 12 shares in the last quarter. Beacon Bridge Wealth Partners LLC grew its stake in NVIDIA by 2.6% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after purchasing an additional 12 shares during the last quarter. Poehling Capital Management INC. raised its holdings in NVIDIA by 0.9% in the first quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock worth $1,442,000 after purchasing an additional 14 shares in the last quarter. Finally, FSA Wealth Management LLC lifted its position in shares of NVIDIA by 3.0% during the first quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock valued at $439,000 after buying an additional 14 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

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.