NVIDIA (NASDAQ:NVDA) Price Target Raised to $160.00

NVIDIA (NASDAQ:NVDA) had its price objective hoisted by Needham & Company LLC from $145.00 to $160.00 in a research note released on Thursday morning, MarketBeat.com reports. The firm currently has a buy rating on the computer hardware maker’s stock.

Several other equities research analysts also recently issued reports on NVDA. William Blair started coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. DA Davidson reissued a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Melius Research lifted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Citigroup raised their price target on shares of NVIDIA from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Susquehanna boosted their price target on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Trading Down 3.2 %

NASDAQ NVDA opened at $141.95 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.79. The stock has a market capitalization of $3.48 trillion, a P/E ratio of 55.89, a PEG ratio of 1.53 and a beta of 1.66. The firm’s 50-day moving average is $134.01 and its two-hundred day moving average is $122.28. NVIDIA has a 12 month low of $45.01 and a 12 month high of $152.89.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 EPS. On average, sell-side analysts anticipate that NVIDIA will post 2.68 earnings per share for the current year.

NVIDIA announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.57%.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total value of $14,283,600.00. Following the completion of the sale, the chief executive officer now directly owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock worth $254,784,327 over the last ninety days. 4.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new position in NVIDIA during the first quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the 1st quarter worth approximately $27,000. TCTC Holdings LLC acquired a new position in shares of NVIDIA during the 1st quarter worth approximately $82,000. Delos Wealth Advisors LLC lifted its stake in NVIDIA by 600.0% in the 1st quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker’s stock valued at $101,000 after buying an additional 96 shares in the last quarter. Finally, Lowe Wealth Advisors LLC acquired a new stake in NVIDIA during the 2nd quarter valued at $25,000. Hedge funds and other 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.