NVIDIA’s (NVDA) “Buy” Rating Reaffirmed at Benchmark

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reissued by stock analysts at Benchmark in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $190.00 price objective on the computer hardware maker’s stock. Benchmark’s price target points to a potential upside of 49.76% from the stock’s current price.

A number of other research firms have also commented on NVDA. Stifel Nicolaus boosted their price target on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. UBS Group upped their target price on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Raymond James lifted their price target on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. The Goldman Sachs Group upped their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Melius Research raised their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $169.62.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA traded down $4.41 during trading on Thursday, hitting $126.87. 149,740,262 shares of the company were exchanged, compared to its average volume of 263,401,875. NVIDIA has a 52-week low of $75.61 and a 52-week high of $153.13. The stock has a 50 day moving average of $134.60 and a 200 day moving average of $131.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a market cap of $3.11 trillion, a PE ratio of 49.80, a P/E/G ratio of 1.76 and a beta of 1.62.

Insider Transactions at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction on 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 transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,107,632 shares of company stock valued at $146,405,286 in the last ninety days. 4.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NVDA. Christopher J. Hasenberg Inc bought a new stake in shares of NVIDIA in the 3rd quarter worth $27,000. Tacita Capital Inc bought a new position in NVIDIA during the fourth quarter valued at approximately $28,000. University of Texas Texas AM Investment Management Co. purchased a new stake in NVIDIA in the second quarter worth approximately $31,000. Legend Financial Advisors Inc. bought a new stake in NVIDIA in the 4th quarter worth approximately $34,000. Finally, West Financial Advisors LLC purchased a new stake in NVIDIA during the 3rd quarter valued at $36,000. Institutional investors own 65.27% of the company’s stock.

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.