NVIDIA’s (NVDA) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a $160.00 price objective on the computer hardware maker’s stock.

NVDA has been the subject of a number of other research reports. Tigress Financial reissued a “buy” rating on shares of NVIDIA in a research note on Wednesday. Susquehanna increased their target price on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. DA Davidson lifted their price target on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Morgan Stanley reiterated an “overweight” rating and set a $162.00 price objective (up from $152.00) on shares of NVIDIA in a research report on Wednesday. Finally, Benchmark restated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $169.62.

NVIDIA Stock Up 3.9 %

NVDA opened at $124.81 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA has a one year low of $75.61 and a one year high of $153.13. The firm has a market capitalization of $3.05 trillion, a P/E ratio of 49.12, a price-to-earnings-growth ratio of 1.76 and a beta of 1.62. The company has a fifty day moving average price of $134.19 and a 200-day moving average price of $132.03.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Equities research analysts expect that NVIDIA will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.

Insider Activity

In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,107,632 shares of company stock valued at $146,405,286 in the last ninety days. Insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently modified their holdings of NVDA. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA in the third quarter worth about $27,000. Tacita Capital Inc purchased a new stake in NVIDIA in the 4th quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. bought a new position in NVIDIA in the 2nd quarter worth about $31,000. Legend Financial Advisors Inc. purchased a new position in shares of NVIDIA during the fourth quarter worth approximately $34,000. Finally, Vision Financial Markets LLC bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $38,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Company Profile

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.