NVIDIA (NASDAQ:NVDA) Stock Price Up 2% - Time to Buy?

Key Points

• NVIDIA's stock price increased by 2% to $177.16, with trading volume down 80% compared to its average.
• Analysts have raised NVIDIA's price targets, with estimates ranging from $200 to $220, and a consensus rating of "Moderate Buy".
• The company reported a $44.06 billion revenue for the last quarter, up by 69.2% from the previous year, although it missed EPS estimates by $0.06.

NVIDIA Corporation (NASDAQ:NVDA - Get Free Report)'s share price rose 2% during mid-day trading on Monday . The company traded as high as $178.10 and last traded at $177.16. Approximately 49,677,130 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 247,398,734 shares. The stock had previously closed at $173.72.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NVDA. Wedbush reissued an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. Jefferies Financial Group lifted their target price on shares of NVIDIA from $185.00 to $200.00 in a research note on Wednesday, July 16th. Bank of America lifted their target price on shares of NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Rosenblatt Securities lifted their target price on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, Benchmark reaffirmed a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $182.03.

NVIDIA Price Performance

The business's 50-day moving average price is $155.30 and its 200 day moving average price is $132.28. 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 company has a market capitalization of $4.37 trillion, a P/E ratio of 57.83, a price-to-earnings-growth ratio of 1.53 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 analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter last year, the business posted $0.61 earnings per share. NVIDIA's revenue was up 69.2% compared to the same quarter last year. Analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Buying and Selling at NVIDIA

In related news, CFO Colette Kress sold 27,650 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total value of $4,725,108.50. Following the transaction, the chief financial officer owned 2,984,516 shares in the company, valued at $510,023,939.24. The trade was a 0.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $178.74, for a total transaction of $13,405,500.00. Following the transaction, the chief executive officer owned 73,748,225 shares in the company, valued at $13,181,757,736.50. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,339,800 shares of company stock worth $800,141,003 over the last three months. 4.17% of the stock is owned by insiders.

Hedge Funds Weigh In On NVIDIA

Several institutional investors have recently made changes to their positions in NVDA. Tacita Capital Inc bought a new stake in shares of NVIDIA in the fourth quarter valued at about $28,000. Harbor Asset Planning Inc. purchased a new stake in shares of NVIDIA during the second quarter worth about $28,000. Vision Financial Markets LLC purchased a new stake in NVIDIA in the fourth quarter valued at approximately $38,000. Kathleen S. Wright Associates Inc. boosted its position in NVIDIA by 169.3% in the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock valued at $44,000 after buying an additional 254 shares during the last quarter. Finally, Copia Wealth Management purchased a new stake in NVIDIA in the fourth quarter valued at approximately $50,000. 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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