Benchmark Reaffirms Buy Rating for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating restated by equities researchers at Benchmark in a research report issued on Thursday, Marketbeat reports. They presently have a $190.00 price objective on the computer hardware maker’s stock. Benchmark’s target price would indicate a potential upside of 41.50% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. Rosenblatt Securities increased their price target on NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday. Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Citigroup reaffirmed a “buy” rating and issued a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research report on Thursday. Summit Insights cut shares of NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, Raymond James restated a “strong-buy” rating on shares of NVIDIA in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $171.66.

NVIDIA Trading Down 3.5%

NASDAQ NVDA opened at $134.28 on Thursday. The firm has a market cap of $3.28 trillion, a PE ratio of 52.85, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. NVIDIA has a 52 week low of $86.62 and a 52 week high of $195.95. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average price of $115.48 and a 200 day moving average price of $126.52.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the company posted $0.61 earnings per share. The business’s revenue for the quarter was up 69.2% on a year-over-year basis. As a group, sell-side analysts forecast that NVIDIA will post 2.77 EPS for the current fiscal year.

Insider Activity at NVIDIA

In other NVIDIA news, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the transaction, the director now owns 53,208 shares of the company’s stock, valued at approximately $6,300,891.36. The trade was a 27.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $360,509,924.95. This trade represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 in the last three months. Company insiders own 4.17% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Large investors have recently bought and sold shares of the business. Regent Peak Wealth Advisors LLC lifted its position in shares of NVIDIA by 0.4% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 81,833 shares of the computer hardware maker’s stock valued at $10,989,000 after buying an additional 322 shares in the last quarter. Wealth Group Ltd. increased its holdings in NVIDIA by 1.8% in the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock worth $766,000 after acquiring an additional 100 shares in the last quarter. Miracle Mile Advisors LLC raised its position in NVIDIA by 27.9% during the fourth quarter. Miracle Mile Advisors LLC now owns 503,974 shares of the computer hardware maker’s stock worth $67,679,000 after acquiring an additional 109,811 shares during the period. PFW Advisors LLC purchased a new position in NVIDIA during the fourth quarter valued at $3,354,000. Finally, Signet Financial Management LLC lifted its holdings in NVIDIA by 27.0% during the fourth quarter. Signet Financial Management LLC now owns 23,742 shares of the computer hardware maker’s stock valued at $3,188,000 after purchasing an additional 5,048 shares in the last quarter. Institutional investors and hedge funds 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.