Phillip Securities Reaffirms Accumulate Rating for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDA - Get Free Report)'s stock had its "accumulate" rating reaffirmed by analysts at Phillip Securities in a report issued on Friday,Benzinga reports. They presently have a $160.00 target price on the computer hardware maker's stock, up from their prior target price of $155.00. Phillip Securities' price target points to a potential upside of 12.59% from the company's previous close.

Other equities analysts have also issued research reports about the stock. Westpark Capital boosted their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. Craig Hallum increased their price target on NVIDIA from $125.00 to $165.00 and gave the stock a "buy" rating in a research note on Thursday, August 29th. Sanford C. Bernstein lifted their price objective on NVIDIA from $130.00 to $155.00 and gave the company an "outperform" rating in a research report on Thursday, August 29th. Redburn Atlantic assumed coverage on NVIDIA in a research note on Tuesday, November 12th. They issued a "buy" rating and a $178.00 target price for the company. Finally, Loop Capital restated a "buy" rating and issued a $175.00 price target on shares of NVIDIA in a report on Wednesday. Five research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $160.80.

NVIDIA Price Performance

NVIDIA stock traded down $4.56 during midday trading on Friday, reaching $142.11. The company's stock had a trading volume of 137,938,125 shares, compared to its average volume of 396,507,188. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA has a fifty-two week low of $45.01 and a fifty-two week high of $152.89. The stock's 50 day simple moving average is $133.55 and its 200 day simple moving average is $121.72. The firm has a market capitalization of $3.49 trillion, a PE ratio of 66.59, a P/E/G ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analysts' expectations of $33.15 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm's quarterly revenue was up 93.6% compared to the same quarter last year. During the same period last year, the company posted $0.38 earnings per share. On average, equities research analysts forecast that NVIDIA will post 2.68 earnings per share for the current year.

NVIDIA declared that its board has approved a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the firm's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now owns 4,954,214 shares of the company's stock, valued at $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Institutional investors have recently bought and sold shares of the stock. Eaton Financial Holdings Company LLC purchased a new position in NVIDIA during the 3rd quarter valued at about $3,894,000. Fulcrum Equity Management boosted its holdings in shares of NVIDIA by 20.4% during the third quarter. Fulcrum Equity Management now owns 11,968 shares of the computer hardware maker's stock worth $1,453,000 after purchasing an additional 2,031 shares during the period. Tudor Financial Inc. purchased a new position in NVIDIA during the third quarter valued at approximately $1,440,000. Wealthquest Corp increased its stake in NVIDIA by 2.4% in the 3rd quarter. Wealthquest Corp now owns 18,037 shares of the computer hardware maker's stock valued at $2,110,000 after buying an additional 417 shares during the period. Finally, SkyView Investment Advisors LLC lifted its position in NVIDIA by 0.5% in the 3rd quarter. SkyView Investment Advisors LLC now owns 130,903 shares of the computer hardware maker's stock worth $15,897,000 after buying an additional 634 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

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.

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