NVIDIA (NASDAQ:NVDA) Given New $200.00 Price Target at HSBC

NVIDIA (NASDAQ:NVDA) had its price target raised by stock analysts at HSBC from $145.00 to $200.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the computer hardware maker’s stock. HSBC’s price target points to a potential upside of 40.86% from the company’s previous close.

Several other research analysts also recently commented on NVDA. Loop Capital reissued a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research note on Monday, August 26th. Benchmark reaffirmed a “buy” rating and set a $170.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Citigroup lifted their price target on NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company lifted their target price on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $152.40.

NVIDIA Stock Down 3.3 %

NVIDIA stock opened at $141.98 on Thursday. The stock has a market cap of $3.48 trillion, a PE ratio of 66.66, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The firm’s 50-day simple moving average is $130.18 and its 200 day simple moving average is $119.70. NVIDIA has a fifty-two week low of $45.01 and a fifty-two week high of $149.77.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data 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 return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the prior year, the firm posted $0.25 EPS. The firm’s quarterly revenue was up 122.4% on a year-over-year basis. Research analysts predict that NVIDIA will post 2.66 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has authorized a share buyback program 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 1.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade represents a 0.91 % decrease in their position. 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 90 days. 4.23% of the stock is currently owned by corporate insiders.

Institutional Trading of NVIDIA

A number of hedge funds have recently added to or reduced their stakes in the company. Greenwood Gearhart Inc. increased its stake in shares of NVIDIA by 15.2% in the 3rd quarter. Greenwood Gearhart Inc. now owns 267,472 shares of the computer hardware maker’s stock valued at $32,482,000 after purchasing an additional 35,195 shares in the last quarter. Valued Retirements Inc. purchased a new stake in shares of NVIDIA in the third quarter valued at approximately $866,000. 3Chopt Investment Partners LLC raised its stake in shares of NVIDIA by 6.2% during the 3rd quarter. 3Chopt Investment Partners LLC now owns 159,780 shares of the computer hardware maker’s stock worth $19,405,000 after buying an additional 9,275 shares during the period. Sender Co & Partners Inc. purchased a new position in shares of NVIDIA during the 3rd quarter valued at approximately $207,000. Finally, Brophy Wealth Management LLC acquired a new stake in NVIDIA in the 3rd quarter valued at $7,153,000. 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.