NVIDIA Corporation (NASDAQ:NVDA) has garnered a consensus "Buy" rating from 55 analysts covering the stock, with 49 recommending a buy and five advising a strong buy. The average 12-month price target among these analysts stands at $321.89. Recent research notes from firms like Wells Fargo & Company and Morgan Stanley have set price targets ranging from $210.00 to $315.00, with most maintaining a bullish outlook.
In related news, NVIDIA's CFO Colette Kress sold 34,918 shares at an average price of $219.05 on September 17th, reducing her position by 4.36%. Director Mark Stevens also sold 622,239 shares at $231.62 on September 4th, decreasing his stake by 21.03%. Insiders have collectively sold 1,766,118 shares worth $399,450,353 over the past 90 days.
Institutional investors have been active in adjusting their holdings. State Street Corp increased its position by 1.6%, while Bank of America Corp DE boosted its stake by 2.2%. Amundi raised its holdings by 10.4%, and J. Stern & Co. LLP saw a dramatic 13,709.1% increase in its NVIDIA holdings. Institutional investors now own 65.27% of the company's stock.
NVIDIA's stock opened at $229.28 on October 9th, with a market cap of $5.53 trillion. The company reported strong quarterly earnings of $2.22 per share, exceeding estimates by $0.13, and revenue of $96.22 billion, up 105.9% year-over-year. The company also declared a quarterly dividend of $0.25 per share and approved a $150 billion stock repurchase program.
Positive sentiment surrounds NVIDIA due to robust AI infrastructure demand, with TSMC reporting 50% revenue growth and SpaceX planning to purchase NVIDIA AI chips. However, concerns remain about debt-funded AI spending and potential peaks in investment. Options activity shows mixed signals, with bullish trades offset by increased hedging in the semiconductor sector.