Needham & Company LLC Reiterates “Buy” Rating for NVIDIA (NASDAQ:NVDA)

Needham & Company LLC reiterated their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a report released on Wednesday, Marketbeat Ratings reports. They currently have a $160.00 target price on the computer hardware maker’s stock.

Other equities research analysts have also recently issued research reports about the company. Summit Insights cut NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Benchmark reissued a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Thursday, February 27th. Oppenheimer restated an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Wells Fargo & Company upped their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, Stifel Nicolaus increased their target price on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $171.51.

NVIDIA Stock Down 0.7 %

NVDA stock opened at $117.70 on Wednesday. The company has a 50 day moving average of $126.92 and a two-hundred day moving average of $131.02. The company has a market cap of $2.87 trillion, a price-to-earnings ratio of 46.32, a PEG 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. 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 (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (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 during the quarter, compared to analyst estimates of $38.16 billion. On average, equities analysts anticipate that NVIDIA will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.

Insider Buying and Selling at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a filing 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 on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 179,109 shares of company stock valued at $22,117,015. 4.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hoertkorn Richard Charles grew its stake in shares of NVIDIA by 2.0% during the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after acquiring an additional 70 shares during the period. DiNuzzo Private Wealth Inc. raised its stake in NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after acquiring an additional 71 shares during the period. Smart Portfolios LLC lifted its holdings in NVIDIA by 2.7% during the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after purchasing an additional 75 shares during the last quarter. Palisade Asset Management LLC boosted its position in NVIDIA by 0.5% during 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 increased its stake 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 in the last quarter. 65.27% of the stock is currently 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.