Benchmark Boosts NVIDIA (NASDAQ:NVDA) Price Target to $190.00

NVIDIA (NASDAQ:NVDA) had its price target hoisted by Benchmark from $170.00 to $190.00 in a research note published on Thursday morning, MarketBeat Ratings reports. They currently have a buy rating on the computer hardware maker’s stock.

A number of other brokerages have also issued reports on NVDA. Westpark Capital lifted their target price on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Loop Capital restated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Wednesday. Mizuho raised their price target on NVIDIA from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. raised their price target on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, The Goldman Sachs Group raised their price target on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Five research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $160.82.

NVIDIA Stock Performance

NVIDIA stock traded down $3.11 during trading hours on Thursday, hitting $143.56. The stock had a trading volume of 83,554,206 shares, compared to its average volume of 396,215,688. NVIDIA has a fifty-two week low of $45.01 and a fifty-two week high of $152.89. The company has a market cap of $3.52 trillion, a PE ratio of 68.81, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. The company has a 50-day moving average of $133.55 and a two-hundred day moving average of $121.72. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 earnings per share. On average, equities research analysts anticipate that NVIDIA will post 2.68 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is presently 1.88%.

NVIDIA announced that its board has authorized a stock buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 14.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total value of $13,291,200.00. Following the completion of the sale, the chief executive officer now directly owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds have recently added to or reduced their stakes in NVDA. China Universal Asset Management Co. Ltd. raised its holdings in NVIDIA by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after acquiring an additional 13,135 shares during the last quarter. Empowered Funds LLC raised its holdings in NVIDIA by 23.0% in the 1st quarter. Empowered Funds LLC now owns 71,262 shares of the computer hardware maker’s stock worth $64,389,000 after acquiring an additional 13,315 shares during the last quarter. Allen Investment Management LLC raised its holdings in NVIDIA by 20.2% in the 1st quarter. Allen Investment Management LLC now owns 65,718 shares of the computer hardware maker’s stock worth $59,380,000 after acquiring an additional 11,047 shares during the last quarter. Monolith Management Ltd raised its stake in NVIDIA by 266.8% during the 1st quarter. Monolith Management Ltd now owns 70,250 shares of the computer hardware maker’s stock valued at $63,475,000 after buying an additional 51,100 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. raised its stake in NVIDIA by 155.3% during the 1st quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 9,700 shares of the computer hardware maker’s stock valued at $8,765,000 after buying an additional 5,900 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.