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

Benchmark reissued their buy rating on shares of NVIDIA (NASDAQ:NVDA) in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a $190.00 price objective on the computer hardware maker’s stock.

Several other research firms have also commented on NVDA. Susquehanna lifted their price target on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Loop Capital restated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Wednesday, November 20th. Summit Insights cut NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $169.62.

NVIDIA Stock Down 8.5 %

NASDAQ:NVDA opened at $120.15 on Thursday. The stock has a 50-day simple moving average of $134.39 and a 200 day simple moving average of $131.81. NVIDIA has a one year low of $75.61 and a one year high of $153.13. The company has a market capitalization of $2.94 trillion, a price-to-earnings ratio of 47.28, a price-to-earnings-growth ratio of 1.76 and a beta of 1.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The business had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Sell-side analysts predict that NVIDIA will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.01 per share. 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 payout ratio is 1.57%.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the transaction, the insider now owns 480,899 shares in the company, valued at $65,056,016.72. This represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the sale, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,107,632 shares of company stock valued at $146,405,286 in the last three months. 4.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVDA. Ironwood Wealth Management LLC. boosted its position in NVIDIA by 896.9% during the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after purchasing an additional 5,695 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of NVIDIA during the 2nd quarter valued at about $31,000. Beck Bode LLC lifted its holdings in shares of NVIDIA by 698.5% during the 2nd quarter. Beck Bode LLC now owns 182,866 shares of the computer hardware maker’s stock valued at $22,591,000 after buying an additional 159,966 shares during the last quarter. Oliver Lagore Vanvalin Investment Group increased its holdings in NVIDIA by 1,335.6% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 25,237 shares of the computer hardware maker’s stock worth $3,118,000 after buying an additional 23,479 shares during the last quarter. Finally, Dorsey Wright & Associates raised its position in NVIDIA by 574.3% during the second quarter. Dorsey Wright & Associates now owns 103,292 shares of the computer hardware maker’s stock valued at $12,761,000 after acquiring an additional 87,973 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

About NVIDIA

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.