Mizuho Boosts NVIDIA (NASDAQ:NVDA) Price Target to $165.00

NVIDIA (NASDAQ:NVDA) had its price target raised by investment analysts at Mizuho from $140.00 to $165.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the computer hardware maker’s stock. Mizuho’s price objective would suggest a potential upside of 12.81% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company boosted their target price on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Wedbush reaffirmed an “outperform” rating and set a $138.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Truist Financial lifted their target price on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research note on Tuesday, October 8th. Finally, New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Tuesday, August 6th. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $147.48.

NVIDIA Stock Down 1.4 %

NASDAQ NVDA opened at $146.27 on Tuesday. The stock’s 50 day simple moving average is $128.59 and its 200 day simple moving average is $119.33. NVIDIA has a one year low of $45.01 and a one year high of $149.77. The firm has a market cap of $3.59 trillion, a PE ratio of 68.61, a price-to-earnings-growth ratio of 1.56 and a beta of 1.66. 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 announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the prior year, the business earned $0.25 earnings per share. The business’s revenue for the quarter was up 122.4% on a year-over-year basis. As a group, sell-side analysts forecast that NVIDIA will post 2.66 earnings per share for the current fiscal year.

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

Insider Activity at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently modified their holdings of the company. CreativeOne Wealth LLC grew its holdings in NVIDIA by 52.7% during the third quarter. CreativeOne Wealth LLC now owns 281,252 shares of the computer hardware maker’s stock worth $34,155,000 after purchasing an additional 97,111 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of NVIDIA by 57.7% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 13,571,355 shares of the computer hardware maker’s stock worth $1,648,105,000 after acquiring an additional 4,965,442 shares during the period. Blueshift Asset Management LLC increased its holdings in shares of NVIDIA by 32.8% during the 3rd quarter. Blueshift Asset Management LLC now owns 12,901 shares of the computer hardware maker’s stock worth $1,567,000 after acquiring an additional 3,186 shares during the last quarter. WorthPointe LLC increased its holdings in shares of NVIDIA by 24.7% during the 3rd quarter. WorthPointe LLC now owns 6,700 shares of the computer hardware maker’s stock worth $814,000 after acquiring an additional 1,327 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its stake in NVIDIA by 7.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 1,325,358 shares of the computer hardware maker’s stock valued at $160,951,000 after acquiring an additional 94,091 shares during the period. 65.27% of the stock is 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.