NVIDIA (NASDAQ:NVDA) Receives “Buy” Rating from Needham & Company LLC

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

A number of other analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Citigroup boosted their target price on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. JPMorgan Chase & Co. boosted their price objective on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $171.76.

NVIDIA Stock Performance

Shares of NVDA stock opened at $117.52 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 company’s fifty day moving average price is $127.71 and its two-hundred day moving average price is $131.12. The firm has a market capitalization of $2.87 trillion, a P/E ratio of 46.25, a P/E/G ratio of 1.76 and a beta of 1.77. NVIDIA has a 12 month low of $75.61 and a 12 month high of $153.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping 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 analysts’ expectations of $38.16 billion. On average, research analysts anticipate that NVIDIA will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company 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 dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s payout ratio is currently 1.36%.

Insider Buying and Selling at NVIDIA

In other news, Director Robert K. Burgess sold 53,324 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 251,044 shares of the company’s stock, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 92,449 shares of company stock valued at $11,960,727. 4.23% of the stock is owned by insiders.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of NVIDIA in the fourth quarter worth approximately $43,515,504,000. International Assets Investment Management LLC grew its position in NVIDIA by 12,898.6% during the 3rd quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock worth $6,836,220,000 after purchasing an additional 55,859,917 shares in the last quarter. Clear Street Derivatives LLC acquired a new stake in NVIDIA during the 3rd quarter valued at $4,589,905,000. Northern Trust Corp boosted its position in shares of NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after buying an additional 36,266,817 shares during the period. Finally, Proficio Capital Partners LLC grew its holdings in shares of NVIDIA by 14,641.2% during the fourth 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 buying an additional 34,441,082 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.