Rosenblatt Securities Reiterates Buy Rating for NVIDIA (NASDAQ:NVDA)

Rosenblatt Securities reissued their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a research note released on Monday morning,Benzinga reports. The brokerage currently has a $200.00 price objective on the computer hardware maker’s stock.

NVDA has been the topic of a number of other reports. HSBC upped their price target on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Craig Hallum increased their target price on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. William Blair started coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. UBS Group raised their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a research report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.63.

NVIDIA Price Performance

NVIDIA stock opened at $145.89 on Monday. The stock has a market capitalization of $3.58 trillion, a price-to-earnings ratio of 68.49, a PEG ratio of 1.49 and a beta of 1.66. NVIDIA has a 52-week low of $45.01 and a 52-week high of $149.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock’s 50 day moving average price is $133.00 and its two-hundred day moving average price is $121.54.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. NVIDIA’s revenue was up 93.6% on a year-over-year basis. On average, equities analysts predict that NVIDIA will post 2.67 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

NVIDIA announced that its board has authorized a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 over the last ninety days. 4.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its stake in shares of NVIDIA by 52.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after buying an additional 13,135 shares during the period. Affinity Investment Advisors LLC purchased a new position in NVIDIA during the first quarter valued at $1,239,000. Ogorek Anthony Joseph NY ADV grew its position in shares of NVIDIA by 29.3% in the first quarter. Ogorek Anthony Joseph NY ADV now owns 485 shares of the computer hardware maker’s stock valued at $438,000 after purchasing an additional 110 shares during the period. Avalon Advisory Group purchased a new stake in shares of NVIDIA during the first quarter worth about $236,000. Finally, Valley Wealth Managers Inc. raised its position in shares of NVIDIA by 23.4% during the 1st quarter. Valley Wealth Managers Inc. now owns 1,753 shares of the computer hardware maker’s stock worth $1,584,000 after purchasing an additional 332 shares during 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.