KeyCorp Reaffirms Overweight Rating for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDA)‘s stock had its “overweight” rating reiterated by equities researchers at KeyCorp in a research report issued on Wednesday, Marketbeat.com reports.

A number of other research analysts also recently commented on NVDA. Rosenblatt Securities reaffirmed a “buy” rating and set a $220.00 price objective on shares of NVIDIA in a research report on Wednesday. Citigroup boosted their price objective on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Robert W. Baird lifted their target price on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Wells Fargo & Company lifted their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, DA Davidson reiterated a “neutral” rating and issued a $135.00 target price on shares of NVIDIA in a research note on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.51.

NVIDIA Stock Performance

Shares of NVDA opened at $118.53 on Wednesday. The company’s 50 day moving average price is $127.28 and its 200 day moving average price is $131.03. NVIDIA has a 52 week low of $75.61 and a 52 week high of $153.13. The company has a market capitalization of $2.89 trillion, a PE ratio of 46.65, a PEG ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. Research analysts expect that NVIDIA will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This represents a 13.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,449 shares of company stock valued at $11,960,727 in the last 90 days. 4.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NVIDIA

Several large investors have recently made changes to their positions in NVDA. Hoertkorn Richard Charles boosted its position in shares of NVIDIA by 2.0% in the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after purchasing an additional 70 shares during the period. DiNuzzo Private Wealth Inc. boosted its position in shares of NVIDIA by 0.8% in the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock worth $1,157,000 after purchasing an additional 71 shares during the period. Smart Portfolios LLC boosted its position in shares of NVIDIA by 2.7% in the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after purchasing an additional 75 shares during the period. Palisade Asset Management LLC boosted its position in shares of NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares during the period. Finally, Baker Boyer National Bank boosted its position in shares of NVIDIA by 3.3% in the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock worth $323,000 after purchasing an additional 76 shares during the period. 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.