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

Benchmark reaffirmed their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a research report report published on Wednesday morning, Marketbeat reports. They currently have a $190.00 price target on the computer hardware maker’s stock.

NVDA has been the subject of a number of other reports. Robert W. Baird boosted their target price on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Phillip Securities reiterated an “accumulate” rating and issued a $160.00 price objective (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Needham & Company LLC restated a “buy” rating and set a $160.00 target price on shares of NVIDIA in a report on Wednesday. Wells Fargo & Company upped their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, DA Davidson reissued a “neutral” rating and set a $135.00 price objective on shares of NVIDIA in a research report on Thursday, February 27th. Four 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $117.70 on Wednesday. The company has a market capitalization of $2.87 trillion, a price-to-earnings ratio of 46.32, a P/E/G ratio of 1.76 and a beta of 1.77. The firm’s 50 day simple moving average is $126.92 and its 200 day simple moving average is $131.02. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA has a fifty-two week low of $75.61 and a fifty-two week high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. As a group, sell-side analysts forecast that NVIDIA will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.36%.

Insider Activity at NVIDIA

In other NVIDIA news, Director Robert K. Burgess sold 53,324 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the transaction, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. The trade was a 17.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 179,109 shares of company stock worth $22,117,015. Company insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of large investors have recently made changes to their positions in the company. Prostatis Group LLC boosted its stake in NVIDIA by 5.2% in the 4th quarter. Prostatis Group LLC now owns 26,004 shares of the computer hardware maker’s stock valued at $3,492,000 after purchasing an additional 1,294 shares during the period. Fairtree Asset Management Pty Ltd bought a new stake in shares of NVIDIA in the fourth quarter valued at about $639,000. M1 Capital Management LLC acquired a new position in shares of NVIDIA in the fourth quarter valued at about $1,514,000. DSG Capital Advisors LLC bought a new position in NVIDIA during the fourth quarter worth about $17,052,000. Finally, Chancellor Financial Group WB LP acquired a new stake in NVIDIA in the 4th quarter worth about $3,966,000. Institutional investors 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.