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

Needham & Company LLC reaffirmed their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a report published on Wednesday morning, Marketbeat.com reports. Needham & Company LLC currently has a $160.00 price objective on the computer hardware maker’s stock.

A number of other research analysts also recently issued reports on NVDA. Stifel Nicolaus raised their price target on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. DZ Bank upgraded shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Morgan Stanley restated an “overweight” rating and issued a $162.00 target price (up from $152.00) on shares of NVIDIA in a research note on Wednesday, February 26th. Robert W. Baird increased their price target on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Wedbush reissued an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a report on Thursday, February 20th. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $171.51.

NVIDIA Stock Down 0.7 %

Shares of NVIDIA stock opened at $117.70 on Wednesday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $126.92 and a 200 day moving average price of $131.02. NVIDIA has a fifty-two week low of $75.61 and a fifty-two week high of $153.13. The firm has a market cap of $2.87 trillion, a P/E ratio of 46.32, a P/E/G ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. On average, sell-side analysts forecast that NVIDIA will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.36%.

Insider Activity at NVIDIA

In related news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now directly owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the sale, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 179,109 shares of company stock valued at $22,117,015 over the last ninety days. Insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Tacita Capital Inc acquired a new stake in shares of NVIDIA during the fourth quarter valued at approximately $28,000. Legend Financial Advisors Inc. acquired a new stake in NVIDIA during the 4th quarter valued at $34,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA in the fourth quarter valued at $38,000. Luken Investment Analytics LLC acquired a new stake in shares of NVIDIA in the fourth quarter worth $40,000. Finally, DHJJ Financial Advisors Ltd. grew its holdings in shares of NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

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.