NVIDIA’s (NVDA) Buy Rating Reiterated at Needham & Company LLC

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They currently have a $160.00 price target on the computer hardware maker’s stock. Needham & Company LLC’s target price would indicate a potential upside of 21.88% from the stock’s previous close.

NVDA has been the topic of a number of other reports. Morgan Stanley restated an “overweight” rating and set a $162.00 price target (up from $152.00) on shares of NVIDIA in a research note on Wednesday. HSBC dropped their price target on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Evercore ISI upped their price target on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Phillip Securities reaffirmed an “accumulate” rating and set a $160.00 target price (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $168.70.

NVIDIA Stock Performance

Shares of NVDA stock opened at $131.28 on Thursday. The stock has a market capitalization of $3.22 trillion, a P/E ratio of 51.66, a PEG ratio of 1.76 and a beta of 1.62. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $134.60 and its 200 day moving average is $131.89. NVIDIA has a 12 month low of $75.61 and a 12 month high of $153.13.

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the sale, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,107,632 shares of company stock valued at $146,405,286 in the last quarter. Company insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Institutional investors and hedge funds have recently modified their holdings of the stock. Christopher J. Hasenberg Inc purchased a new stake in shares of NVIDIA in the 3rd quarter worth about $27,000. Tacita Capital Inc purchased a new position in NVIDIA during the 4th quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA during the 2nd quarter valued at about $31,000. Legend Financial Advisors Inc. purchased a new position in NVIDIA during the 4th quarter valued at about $34,000. Finally, West Financial Advisors LLC bought a new stake in NVIDIA during the 3rd quarter valued at about $36,000. 65.27% of the stock is 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.