NVIDIA (NASDAQ:NVDA) Given Buy Rating at Benchmark

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reaffirmed by equities research analysts at Benchmark in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have a $190.00 price objective on the computer hardware maker’s stock. Benchmark’s price target would indicate a potential upside of 60.30% from the company’s previous close.

NVDA has been the subject of a number of other reports. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 target price on shares of NVIDIA in a report on Wednesday. The Goldman Sachs Group boosted their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. boosted their target price on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Truist Financial boosted their target price on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, HSBC dropped their price target on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Four investment 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. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Stock Performance

NVDA stock opened at $118.53 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The business has a 50-day moving average price of $127.28 and a 200 day moving average price of $131.03. The company has a market capitalization of $2.89 trillion, a P/E ratio of 46.65, a PEG ratio of 1.76 and a beta of 1.77. NVIDIA has a 1-year low of $75.61 and a 1-year high of $153.13.

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

Insiders Place Their Bets

In other news, Director Robert K. Burgess sold 53,324 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the transaction, the director now directly owns 251,044 shares of the company’s stock, valued at $28,993,071.56. This represents a 17.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,449 shares of company stock worth $11,960,727. Corporate insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NVDA. Norges Bank acquired a new position in shares of NVIDIA during the 4th quarter worth approximately $43,515,504,000. International Assets Investment Management LLC raised its stake in NVIDIA by 12,898.6% in the 3rd quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock valued at $6,836,220,000 after purchasing an additional 55,859,917 shares during the last quarter. Clear Street Derivatives LLC acquired a new position in NVIDIA in the 3rd quarter valued at $4,589,905,000. Northern Trust Corp raised its stake in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its stake in NVIDIA by 14,641.2% in the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

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.