NVIDIA (NASDAQ:NVDA) Price Target Raised to $180.00 at Susquehanna

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

Several other brokerages have also commented on NVDA. Sanford C. Bernstein boosted their target price on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. DA Davidson restated a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price target on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Raymond James upped their price target on NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Finally, TD Cowen raised NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $152.40.

NVIDIA Stock Performance

Shares of NVDA stock traded down $4.78 during midday trading on Thursday, hitting $141.98. The company had a trading volume of 246,946,036 shares, compared to its average volume of 399,397,188. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The stock has a market cap of $3.48 trillion, a price-to-earnings ratio of 66.95, a PEG ratio of 1.54 and a beta of 1.66. The company’s 50 day simple moving average is $130.18 and its 200 day simple moving average is $119.70. NVIDIA has a 52-week low of $45.01 and a 52-week high of $149.77.

NVIDIA (NASDAQ:NVDA) last issued 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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the previous year, the business posted $0.25 earnings per share. The business’s revenue was up 122.4% compared to the same quarter last year. Research analysts anticipate that NVIDIA will post 2.66 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s payout ratio is currently 1.88%.

NVIDIA announced that its board has approved a share repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total value of $14,283,600.00. Following the completion of the sale, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at $9,105,199,254.85. The trade was a 0.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,156,270 shares of company stock worth $254,784,327. Corporate insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Hedge funds have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. boosted its holdings in NVIDIA by 52.2% during the first 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 acquiring an additional 13,135 shares during the period. Crown Wealth Group LLC lifted its holdings in NVIDIA by 28.7% during the 1st quarter. Crown Wealth Group LLC now owns 3,586 shares of the computer hardware maker’s stock valued at $3,240,000 after purchasing an additional 800 shares during the last quarter. Harbor Advisors LLC boosted its holdings in shares of NVIDIA by 3.4% in the 1st quarter. Harbor Advisors LLC now owns 18,000 shares of the computer hardware maker’s stock worth $16,264,000 after acquiring an additional 600 shares in the last quarter. Presilium Private Wealth LLC bought a new stake in NVIDIA during the 1st quarter worth approximately $201,000. Finally, Better Money Decisions LLC increased its holdings in NVIDIA by 4.8% during the 1st quarter. Better Money Decisions LLC now owns 727 shares of the computer hardware maker’s stock valued at $657,000 after purchasing an additional 33 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other 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.