NVIDIA’s (NVDA) Outperform Rating Reaffirmed at Oppenheimer

Oppenheimer restated their outperform rating on shares of NVIDIA (NASDAQ:NVDA) in a report published on Monday morning,Benzinga reports. The firm currently has a $175.00 target price on the computer hardware maker’s stock.

A number of other analysts have also recently weighed in on the stock. KeyCorp set a $190.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Benchmark reaffirmed a “buy” rating and set a $190.00 target price on shares of NVIDIA in a report on Thursday, May 29th. Bank of America lifted their price target on shares of NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. Summit Insights upgraded NVIDIA from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. Finally, Hsbc Global Res lowered NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-five have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $172.24.

NVIDIA Stock Up 1.9%

Shares of NVIDIA stock opened at $144.69 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA has a 1 year low of $86.62 and a 1 year high of $153.13. The firm’s 50-day moving average is $123.74 and its two-hundred day moving average is $126.36. The stock has a market cap of $3.53 trillion, a price-to-earnings ratio of 56.94, a PEG ratio of 1.76 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the previous year, the company earned $0.61 earnings per share. The firm’s revenue was up 69.2% on a year-over-year basis. As a group, research analysts expect that NVIDIA will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s payout ratio is currently 1.29%.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director now directly owns 26,671,360 shares of the company’s stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the sale, the insider now directly owns 479,428 shares of the company’s stock, valued at approximately $55,997,190.40. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,560,845 shares of company stock valued at $360,351,849. 4.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NVIDIA

Hedge funds have recently modified their holdings of the stock. Maple Capital Management Inc. raised its position in NVIDIA by 1.0% in the first quarter. Maple Capital Management Inc. now owns 732,482 shares of the computer hardware maker’s stock worth $79,386,000 after acquiring an additional 7,003 shares in the last quarter. Lynx Investment Advisory lifted its holdings in NVIDIA by 5.4% in the first quarter. Lynx Investment Advisory now owns 11,566 shares of the computer hardware maker’s stock valued at $1,253,000 after acquiring an additional 591 shares during the period. Peterson Wealth Management lifted its holdings in NVIDIA by 1.6% in the first quarter. Peterson Wealth Management now owns 71,486 shares of the computer hardware maker’s stock valued at $7,748,000 after acquiring an additional 1,133 shares during the period. 1248 Management LLC lifted its holdings in NVIDIA by 56.0% in the first quarter. 1248 Management LLC now owns 57,621 shares of the computer hardware maker’s stock valued at $6,246,000 after acquiring an additional 20,677 shares during the period. Finally, First Long Island Investors LLC lifted its holdings in NVIDIA by 3.1% in the first quarter. First Long Island Investors LLC now owns 385,955 shares of the computer hardware maker’s stock valued at $41,830,000 after acquiring an additional 11,496 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Company Profile

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.