NVIDIA (NASDAQ:NVDA) Hits New 1-Year High - Here's What Happened

Key Points

• NVIDIA shares have reached a new 52-week high, trading as high as $184.48, with a significant trading volume of over 145 million shares.
• Analysts have set aggressive target prices for NVIDIA, with Bank of America raising its target to $220.00, while the average target price among analysts is $183.75.
• The firm's recent quarterly earnings showed a revenue of $44.06 billion, exceeding expectations, although it reported an EPS of $0.81, which was below the consensus estimate.

Shares of NVIDIA Corporation (NASDAQ:NVDA - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $184.48 and last traded at $183.16, with a volume of 145446845 shares changing hands. The stock had previously closed at $182.06.

Analysts Set New Price Targets

A number of analysts have issued reports on NVDA shares. The Goldman Sachs Group started coverage on NVIDIA in a research report on Thursday, July 10th. They issued a "buy" rating and a $185.00 target price for the company. Mizuho set a $192.00 target price on NVIDIA and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Bank of America raised their target price on NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. Finally, Needham & Company LLC raised their target price on NVIDIA from $160.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA currently has an average rating of "Moderate Buy" and an average target price of $183.75.

NVIDIA Stock Up 0.6%

The stock has a 50-day simple moving average of $161.55 and a two-hundred day simple moving average of $134.24. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The firm has a market cap of $4.47 trillion, a PE ratio of 59.08, a P/E/G ratio of 1.60 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm's quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 EPS. Analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were issued a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA's payout ratio is currently 1.29%.

Insider Buying and Selling

In other news, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the transaction, the director owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,687,440 shares of company stock worth $862,095,782 in the last ninety days. Corporate insiders own 4.17% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. FMR LLC boosted its position in NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after acquiring an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC boosted its position in NVIDIA by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 579,213,497 shares of the computer hardware maker's stock valued at $91,150,170,000 after acquiring an additional 8,521,936 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after acquiring an additional 3,721,331 shares in the last quarter. Kingstone Capital Partners Texas LLC boosted its position in NVIDIA by 267,959.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 382,373,765 shares of the computer hardware maker's stock valued at $64,976,521,000 after acquiring an additional 382,231,120 shares in the last quarter. Finally, Norges Bank bought a new stake in NVIDIA during the 4th quarter valued at approximately $43,515,504,000. 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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