Benchmark Reaffirms “Buy” Rating for NVIDIA (NASDAQ:NVDA)

Benchmark reiterated their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a research report released on Tuesday,Benzinga reports. Benchmark currently has a $190.00 price objective on the computer hardware maker’s stock.

NVDA has been the topic of a number of other research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Piper Sandler upped their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Susquehanna raised their price objective 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. William Blair assumed coverage on NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, Truist Financial raised their price target on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Performance

NVIDIA stock opened at $140.14 on Tuesday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA has a twelve month low of $49.48 and a twelve month high of $153.13. The company’s 50-day moving average price is $139.72 and its 200-day moving average price is $128.37. The company has a market cap of $3.43 trillion, a PE ratio of 55.15, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 earnings per share. On average, equities research analysts forecast that NVIDIA will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were given a $0.01 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Insider Activity at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,071,886 shares of company stock valued at $140,997,550 in the last ninety days. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several hedge funds have recently made changes to their positions in NVDA. Quest Partners LLC purchased a new position in shares of NVIDIA in the second quarter worth about $27,000. Christopher J. Hasenberg Inc purchased a new position in NVIDIA during the 3rd quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in NVIDIA during the 2nd quarter valued at approximately $31,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA in the 4th quarter valued at $34,000. Finally, West Financial Advisors LLC acquired a new stake in shares of NVIDIA in the third quarter worth $36,000. 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.