NVIDIA (NASDAQ:NVDA – Get Free Report)‘s stock had its “buy” rating reiterated by Sanford C. Bernstein in a research report issued on Monday,MarketScreener reports.
Several other research analysts also recently commented on the company. KeyCorp set a $310.00 price objective on NVIDIA and gave the company an “overweight” rating in a research note on Thursday, May 21st. Wolfe Research restated an “outperform” rating and issued a $275.00 price target on shares of NVIDIA in a research report on Thursday, May 21st. Truist Financial upped their price objective on shares of NVIDIA from $287.00 to $307.00 and gave the company a “buy” rating in a report on Thursday, May 21st. JPMorgan Chase & Co. raised their price target on shares of NVIDIA from $265.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. Finally, Daiwa Securities Group upped their price objective on NVIDIA from $215.00 to $255.00 and gave the company an “outperform” rating in a report on Friday, May 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $305.67.
Read Our Latest Report on NVIDIA
NVIDIA Stock Performance
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.11. The company had revenue of $81.62 billion during the quarter, compared to analysts’ expectations of $78.42 billion. NVIDIA had a return on equity of 96.94% and a net margin of 62.97%.NVIDIA’s quarterly revenue was up 85.2% on a year-over-year basis. During the same period last year, the business earned $0.81 earnings per share. On average, equities analysts expect that NVIDIA will post 8.61 EPS for the current year.
NVIDIA announced that its board has initiated a share repurchase plan on Wednesday, May 20th that authorizes the company to repurchase $80.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Insider Buying and Selling at NVIDIA
In related news, Director Stephen C. Neal sold 15,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $215.73, for a total transaction of $3,343,815.00. Following the sale, the director directly owned 116,135 shares in the company, valued at approximately $25,053,803.55. This represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $219.83, for a total transaction of $109,915,000.00. Following the completion of the sale, the director directly owned 6,399,771 shares in the company, valued at approximately $1,406,861,658.93. This trade represents a 7.25% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,622,461 shares of company stock valued at $332,629,083. 3.94% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On NVIDIA
Large investors have recently bought and sold shares of the business. Lifetime Wealth Management P.C. acquired a new stake in NVIDIA during the 4th quarter worth $26,000. Longview Financial Advisors Inc. purchased a new stake in NVIDIA in the first quarter valued at approximately $27,000. Longfellow Investment Management Co. LLC lifted its stake in NVIDIA by 47.9% in the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock valued at $33,000 after buying an additional 67 shares during the last quarter. Phillip James Consulting Co. acquired a new stake in shares of NVIDIA in the first quarter valued at approximately $40,000. Finally, Spurstone Advisory Services LLC purchased a new position in shares of NVIDIA during the second quarter worth approximately $40,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.
Key Stories Impacting NVIDIA
Here are the key news stories impacting NVIDIA this week:
- Positive Sentiment: NVIDIA announced multiyear partnerships with SK hynix, SK Telecom, and NAVER to co-develop next-generation memory and build gigawatt-scale AI infrastructure, reinforcing demand for its AI chips and ecosystem. NVIDIA and SK hynix Announce Multiyear Technology Partnership to Advance Memory for AI Factories
- Positive Sentiment: SK Telecom plans to build a gigawatt-scale AI cloud using NVIDIA’s DSX platform, which expands NVIDIA’s footprint in enterprise and sovereign AI infrastructure. SK Telecom and NVIDIA Build AI Infrastructure to Power Korea’s AI Innovation
- Positive Sentiment: NAVER also said it will use NVIDIA DSX to build AI factories at gigawatt scale, signaling additional long-term hardware demand and broader adoption of NVIDIA’s AI stack. NAVER Expands AI Infrastructure With NVIDIA to Serve Surging Global AI Demand
- Positive Sentiment: Recent coverage highlighted Jensen Huang’s comments that the AI infrastructure buildout is still early and that the memory shortage could last for years, which supports the view that NVIDIA’s revenue pipeline remains strong. SK Hynix announces multi-year tech deal with Nvidia for AI factories
NVIDIA Company Profile
NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.
The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.
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