NVIDIA (NASDAQ:NVDA) Earns “Outperform” Rating from Oppenheimer

Oppenheimer reiterated their outperform rating on shares of NVIDIA (NASDAQ:NVDA) in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a $175.00 price target on the computer hardware maker’s stock.

NVDA has been the subject of a number of other research reports. William Blair initiated coverage on NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Tuesday, August 6th. Melius Research upped their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Citigroup upped their price target on shares of NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Craig Hallum upped their price target on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $160.82.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA traded down $3.11 during trading on Thursday, hitting $143.56. 83,554,206 shares of the company traded hands, compared to its average volume of 396,215,688. The stock has a market capitalization of $3.52 trillion, a price-to-earnings ratio of 68.81, a PEG ratio of 1.54 and a beta of 1.66. The business’s fifty day moving average is $133.55 and its 200-day moving average is $121.72. NVIDIA has a one year low of $45.01 and a one year high of $152.89. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 earnings per share. As a group, equities analysts predict that NVIDIA will post 2.68 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.88%.

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

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the transaction, the chief executive officer now directly owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. This trade represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on 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 trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock valued at $254,784,327 in the last three months. 4.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA in the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. increased its stake in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares in the last quarter. FPC Investment Advisory Inc. bought a new stake in NVIDIA in the first quarter valued at $26,000. CGC Financial Services LLC bought a new stake in shares of NVIDIA during the second quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA during the first quarter worth about $27,000. 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.