Benchmark Reiterates Buy Rating for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDAGet Rating)‘s stock had its “buy” rating reissued by equities research analysts at Benchmark in a research note issued to investors on Thursday, Stock Target Advisor reports. They currently have a $228.00 price target on the computer hardware maker’s stock. Benchmark’s price objective would indicate a potential upside of 40.78% from the company’s previous close.

Other research analysts have also issued reports about the stock. Summit Insights lowered shares of NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 17th. Tigress Financial increased their target price on shares of NVIDIA from $400.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, March 29th. StockNews.com began coverage on shares of NVIDIA in a report on Thursday, March 31st. They set a “hold” rating on the stock. KeyCorp lowered their price objective on shares of NVIDIA from $310.00 to $250.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NVIDIA from $255.00 to $190.00 in a report on Thursday. Eight analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $284.91.

NASDAQ:NVDA opened at $161.95 on Thursday. The firm’s fifty day moving average is $215.65 and its 200-day moving average is $252.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 6.05 and a current ratio of 6.65. NVIDIA has a 52 week low of $154.60 and a 52 week high of $346.47. The firm has a market cap of $471.72 billion, a P/E ratio of 42.32, a P/E/G ratio of 2.16 and a beta of 1.59.

NVIDIA (NASDAQ:NVDAGet Rating) last posted its quarterly earnings data on Wednesday, May 25th. The computer hardware maker reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.07. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.09 billion. NVIDIA had a net margin of 36.24% and a return on equity of 42.99%. The company’s quarterly revenue was up 46.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 EPS. As a group, sell-side analysts anticipate that NVIDIA will post 4.71 earnings per share for the current year.

In related news, CEO Jen Hsun Huang sold 292,340 shares of NVIDIA stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $237.12, for a total value of $69,319,660.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction on Monday, March 28th. The shares were sold at an average price of $274.06, for a total transaction of $27,406,000.00. The disclosure for this sale can be found here. Insiders have sold 409,056 shares of company stock worth $101,135,342 over the last three months. Insiders own 4.47% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Piscataqua Savings Bank boosted its holdings in NVIDIA by 14.3% in the fourth quarter. Piscataqua Savings Bank now owns 320 shares of the computer hardware maker’s stock valued at $94,000 after acquiring an additional 40 shares in the last quarter. Venture Visionary Partners LLC boosted its holdings in shares of NVIDIA by 0.3% during the 4th quarter. Venture Visionary Partners LLC now owns 15,776 shares of the computer hardware maker’s stock valued at $4,639,000 after buying an additional 43 shares in the last quarter. Warren Averett Asset Management LLC boosted its holdings in shares of NVIDIA by 0.7% during the 3rd quarter. Warren Averett Asset Management LLC now owns 5,997 shares of the computer hardware maker’s stock valued at $1,822,000 after buying an additional 44 shares in the last quarter. Tranquility Partners LLC boosted its holdings in shares of NVIDIA by 1.0% during the 4th quarter. Tranquility Partners LLC now owns 4,384 shares of the computer hardware maker’s stock valued at $1,290,000 after buying an additional 44 shares in the last quarter. Finally, Bedel Financial Consulting Inc. boosted its holdings in shares of NVIDIA by 2.3% during the 4th quarter. Bedel Financial Consulting Inc. now owns 1,976 shares of the computer hardware maker’s stock valued at $581,000 after buying an additional 45 shares in the last quarter. Institutional investors and hedge funds own 55.19% of the company’s stock.

About NVIDIA (Get Rating)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

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