NVIDIA (NASDAQ:NVDA) Price Target Lowered to $200.00 at Rosenblatt Securities

NVIDIA (NASDAQ:NVDA) had its price target reduced by research analysts at Rosenblatt Securities from $220.00 to $200.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the computer hardware maker’s stock. Rosenblatt Securities’ target price would suggest a potential upside of 95.18% from the stock’s previous close.

A number of other brokerages have also recently weighed in on NVDA. Tigress Financial restated a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. William Blair restated an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. Stifel Nicolaus set a $180.00 target price on NVIDIA in a research note on Wednesday, March 19th. Morgan Stanley set a $162.00 price target on NVIDIA and gave the stock an “overweight” rating in a research note on Wednesday, March 19th. Finally, Mizuho decreased their price target on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Six research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $165.64.

NVIDIA Trading Down 8.7 %

Shares of NASDAQ:NVDA traded down $9.73 during trading on Wednesday, reaching $102.47. 331,045,851 shares of the company were exchanged, compared to its average volume of 313,550,050. The business’s fifty day simple moving average is $118.34 and its 200-day simple moving average is $130.20. The firm has a market capitalization of $2.50 trillion, a PE ratio of 40.33, a P/E/G ratio of 1.76 and a beta of 1.96. NVIDIA has a 12-month low of $75.61 and a 12-month high of $195.95. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. On average, research analysts anticipate that NVIDIA will post 2.77 EPS for the current year.

Insiders Place Their Bets

In other news, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now directly owns 17,279 shares in the company, valued at $1,900,690. This trade represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the transaction, the insider now directly owns 479,428 shares in the company, valued at approximately $55,997,190.40. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock valued at $17,133,207 over the last quarter. 4.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Group Ltd. grew its holdings in NVIDIA by 5.0% during the 3rd quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock worth $680,000 after acquiring an additional 265 shares in the last quarter. SOA Wealth Advisors LLC. raised its stake in NVIDIA by 0.3% in the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock valued at $14,650,000 after buying an additional 350 shares in the last quarter. Swedbank AB boosted its position in shares of NVIDIA by 4.8% during the 3rd quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock worth $4,965,526,000 after acquiring an additional 1,868,358 shares in the last quarter. Donaldson Capital Management LLC increased its holdings in shares of NVIDIA by 31.6% in the 3rd quarter. Donaldson Capital Management LLC now owns 54,729 shares of the computer hardware maker’s stock valued at $6,646,000 after acquiring an additional 13,126 shares during the last quarter. Finally, Retirement Financial Solutions LLC lifted its stake in NVIDIA by 3.2% during the third quarter. Retirement Financial Solutions LLC now owns 3,489 shares of the computer hardware maker’s stock worth $424,000 after purchasing an additional 109 shares during the last quarter. Hedge funds and other institutional investors 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.