NVIDIA (NASDAQ:NVDA) Stock Gets Price Target Reduction from Cantor Fitzgerald

NVIDIA (NASDAQ:NVDA) had its price objective dropped by equities researchers at Cantor Fitzgerald from $350.00 to $250.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the computer hardware maker’s stock. Cantor Fitzgerald‘s price objective would indicate a potential upside of 43.90% from the stock’s previous close.

NVDA has been the topic of several other research reports. Sanford C. Bernstein set a $200.00 target price on NVIDIA and gave the company a “market perform” rating in a research note on Thursday. President Capital increased their price objective on shares of NVIDIA from $295.00 to $330.00 in a report on Thursday, August 27th. BNP Paribas Exane reiterated an “outperform” rating and set a $345.00 price objective on shares of NVIDIA in a research report on Monday, October 5th. JPMorgan Chase & Co. raised their target price on shares of NVIDIA from $280.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, August 27th. Finally, DA Davidson reiterated a “buy” rating and issued a $300.00 price target on shares of NVIDIA in a report on Thursday, August 27th. Five analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $298.18.

NVIDIA Stock Performance

NVDA opened at $173.73 on Thursday. The firm has a market cap of $4.19 trillion, a P/E ratio of 21.96, a PEG ratio of 1.30 and a beta of 2.21. NVIDIA has a 1-year low of $164.27 and a 1-year high of $243.37. The company has a 50 day simple moving average of $217.12 and a two-hundred day simple moving average of $204.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.59 and a quick ratio of 3.85.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.13. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. The company had revenue of $96.22 billion during the quarter, compared to the consensus estimate of $92.27 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. NVIDIA’s quarterly revenue was up 105.9% compared to the same quarter last year. Equities analysts forecast that NVIDIA will post 9.30 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has initiated a share repurchase plan on Monday, September 28th that permits the company to repurchase $150 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to purchase up to 2.8% of its shares through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Timothy Teter sold 30,460 shares of the stock in a transaction on Monday, September 21st. The stock was sold at an average price of $222.80, for a total transaction of $6,786,488.00. Following the transaction, the executive vice president owned 2,687,660 shares of the company’s stock, valued at approximately $598,810,648. This represents a 1.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Stevens sold 622,239 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $231.62, for a total transaction of $144,122,997.18. Following the transaction, the director owned 2,336,531 shares in the company, valued at approximately $541,187,310.22. This represents a 21.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,766,118 shares of company stock worth $399,450,353 in the last ninety days. 3.94% of the stock is owned by company insiders.

Institutional Trading of NVIDIA

Several hedge funds have recently modified their holdings of the company. Jupiter Topco LLC acquired a new position in NVIDIA during the 2nd quarter valued at about $16,156,076,000. Van ECK Associates Corp grew its position in NVIDIA by 34.7% during the 2nd quarter. Van ECK Associates Corp now owns 75,849,721 shares of the computer hardware maker’s stock worth $15,176,771,000 after purchasing an additional 19,522,304 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in NVIDIA during the 3rd quarter worth approximately $3,921,459,000. State Street Corp increased its stake in NVIDIA by 1.6% during the 2nd quarter. State Street Corp now owns 1,009,783,437 shares of the computer hardware maker’s stock valued at $202,047,568,000 after purchasing an additional 15,897,836 shares in the last quarter. Finally, Amundi increased its stake in NVIDIA by 10.4% during the 1st quarter. Amundi now owns 133,768,018 shares of the computer hardware maker’s stock valued at $23,329,141,000 after purchasing an additional 12,575,177 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Top NVIDIA Stories

These are some of the NVDA stories that stood out recently:

• Neutral Sentiment: The board is reportedly weighing Huang’s future after reports of alleged personal relationships, including one with an Nvidia employee. The company has not confirmed that it plans to remove him; uncertainty over succession is central to the market reaction. Article: A dark day for Nvidia: Analysts react as markets await news on Huang’s fate
• Negative Sentiment: Reports that the board may oust longtime CEO Huang have heightened key-person and succession concerns. Analysts have cut targets this week, including Wells Fargo and Citigroup, adding to investor caution. Article: Nvidia Stock Is Tumbling. What Happens Next If Huang Gets Ousted
• Negative Sentiment: The allegations have revived scrutiny of whether restricted Nvidia AI chips reached China and prompted calls for tighter export controls; Congress is also reportedly preparing to question Huang. Any policy response could threaten sales opportunities and increase compliance risk. Article: Huang scandal revives push to tighten China chip curbs

NVIDIA Company Profile

NVIDIA Corporation develops graphics processing units (GPUs), accelerated computing platforms and related software. Founded in 1993, the company first became widely known for GPUs used in PC gaming and professional graphics. Its technology now also supports artificial intelligence, scientific computing and other data-intensive applications. NVIDIA’s offerings include GeForce products for gaming, data-center GPUs and systems for AI workloads, and networking products that connect computing infrastructure.