NVIDIA (NASDAQ:NVDA) Price Target Raised to $200.00 at Needham & Company LLC

NVIDIA (NASDAQ:NVDAGet Rating) had its price target lifted by Needham & Company LLC from $155.00 to $200.00 in a research note issued to investors on Thursday, The Fly reports. They currently have a buy rating on the computer hardware maker’s stock.

A number of other analysts have also weighed in on NVDA. TheStreet lowered NVIDIA from a b- rating to a c+ rating in a research report on Thursday, September 15th. Rosenblatt Securities reaffirmed a buy rating and set a $320.00 price objective on shares of NVIDIA in a research report on Thursday, August 25th. Barclays dropped their target price on NVIDIA from $190.00 to $140.00 and set an overweight rating on the stock in a report on Monday, October 24th. Raymond James dropped their target price on NVIDIA from $210.00 to $190.00 and set a strong-buy rating on the stock in a report on Thursday. Finally, Piper Sandler dropped their target price on NVIDIA from $235.00 to $200.00 in a report on Thursday, September 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $210.21.

NVIDIA Stock Down 1.7 %

Shares of NASDAQ NVDA opened at $154.09 on Thursday. The firm has a market cap of $383.68 billion, a price-to-earnings ratio of 65.57, a PEG ratio of 5.24 and a beta of 1.70. The company has a quick ratio of 3.11, a current ratio of 3.39 and a debt-to-equity ratio of 0.45. NVIDIA has a 52-week low of $108.13 and a 52-week high of $346.47. The business’s 50 day moving average is $132.89 and its two-hundred day moving average is $156.46.

NVIDIA (NASDAQ:NVDAGet Rating) last posted its quarterly earnings data on Wednesday, November 16th. The computer hardware maker reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.13). NVIDIA had a return on equity of 30.75% and a net margin of 20.85%. The company had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.82 billion. During the same period in the prior year, the company posted $1.01 EPS. The firm’s revenue was down 16.5% compared to the same quarter last year. Research analysts predict that NVIDIA will post 2.44 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 22nd. Investors of record on Thursday, December 1st will be issued a dividend of $0.04 per share. The ex-dividend date is Wednesday, November 30th. This represents a $0.16 annualized dividend and a yield of 0.10%. NVIDIA’s dividend payout ratio is currently 6.81%.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 87,500 shares of the stock in a transaction dated Thursday, October 13th. The shares were sold at an average price of $119.65, for a total transaction of $10,469,375.00. Following the completion of the transaction, the director now directly owns 2,310,193 shares of the company’s stock, valued at $276,414,592.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Mark A. Stevens sold 87,500 shares of the stock in a transaction dated Thursday, October 13th. The shares were sold at an average price of $119.65, for a total transaction of $10,469,375.00. Following the completion of the transaction, the director now directly owns 2,310,193 shares of the company’s stock, valued at $276,414,592.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 85,000 shares of the stock in a transaction dated Tuesday, October 11th. The shares were sold at an average price of $116.49, for a total transaction of $9,901,650.00. Following the completion of the transaction, the director now directly owns 2,397,693 shares of the company’s stock, valued at $279,307,257.57. The disclosure for this sale can be found here. 4.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NVDA. IFM Investors Pty Ltd increased its holdings in NVIDIA by 20.2% in the first quarter. IFM Investors Pty Ltd now owns 396,143 shares of the computer hardware maker’s stock valued at $108,092,000 after buying an additional 66,564 shares in the last quarter. Strategic Capital Advisers Inc. increased its stake in shares of NVIDIA by 3.3% during the 1st quarter. Strategic Capital Advisers Inc. now owns 5,777 shares of the computer hardware maker’s stock worth $1,576,000 after purchasing an additional 182 shares in the last quarter. KG&L Capital Management LLC increased its stake in shares of NVIDIA by 15.7% during the 1st quarter. KG&L Capital Management LLC now owns 9,951 shares of the computer hardware maker’s stock worth $2,715,000 after purchasing an additional 1,354 shares in the last quarter. Moisand Fitzgerald Tamayo LLC increased its stake in shares of NVIDIA by 61.8% during the 1st quarter. Moisand Fitzgerald Tamayo LLC now owns 479 shares of the computer hardware maker’s stock worth $131,000 after purchasing an additional 183 shares in the last quarter. Finally, Focused Wealth Management Inc increased its stake in shares of NVIDIA by 5.6% during the 1st quarter. Focused Wealth Management Inc now owns 2,643 shares of the computer hardware maker’s stock worth $721,000 after purchasing an additional 141 shares in the last quarter. 62.58% of the stock is owned by hedge funds and other institutional investors.

About NVIDIA

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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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