NVIDIA (NASDAQ:NVDA) Given New $160.00 Price Target at Needham & Company LLC

NVIDIA (NASDAQ:NVDA) had its price target boosted by Needham & Company LLC from $145.00 to $160.00 in a research report report published on Thursday, MarketBeat Ratings reports. They currently have a buy rating on the computer hardware maker’s stock.

A number of other research analysts also recently issued reports on the stock. Morgan Stanley boosted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Tuesday, August 6th. Mizuho upped their price objective on shares of NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Bank of America upped their price objective on shares of NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, HSBC upped their price objective on shares of NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Five analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $160.82.

NVIDIA Stock Performance

NASDAQ NVDA traded down $3.11 on Thursday, reaching $143.56. 83,554,206 shares of the company’s stock traded hands, compared to its average volume of 396,215,688. The firm has a market cap of $3.52 trillion, a price-to-earnings ratio of 68.81, a P/E/G ratio of 1.54 and a beta of 1.66. The stock has a 50 day moving average price of $133.55 and a 200-day moving average price of $121.72. NVIDIA has a fifty-two week low of $45.01 and a fifty-two week high of $152.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last posted its earnings results 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 company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 earnings per share. Equities research analysts predict that NVIDIA will post 2.68 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has approved a stock repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

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, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the sale, the chief executive officer now directly owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock worth $254,784,327 over the last 90 days. Insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Hedge funds have recently modified their holdings of the company. Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA during the 2nd quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. boosted its position in NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. bought a new position in NVIDIA during the first quarter worth $26,000. CGC Financial Services LLC acquired a new stake in shares of NVIDIA during the second quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA during the first quarter worth $27,000. 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.