NVIDIA (NASDAQ:NVDA) Given Buy Rating at Needham & Company LLC

Key Points

• NVIDIA has received a "buy" rating from Needham & Company LLC, with a price target of $200, indicating a potential upside of 10.13% from its current stock price.
• Various analysts have rated NVIDIA's stock positively, with four giving it a Strong Buy rating and a consensus rating of "Moderate Buy," alongside an average target price of $198.19.
• Insider trading activity showed significant sales, with directors selling over 5.9 million shares of NVIDIA stock valued at approximately $902 million in the last three months.

NVIDIA (NASDAQ:NVDA - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They currently have a $200.00 price target on the computer hardware maker's stock. Needham & Company LLC's price target indicates a potential upside of 10.13% from the stock's current price.

Other equities research analysts also recently issued research reports about the stock. The Goldman Sachs Group started coverage on shares of NVIDIA in a research report on Thursday, July 10th. They set a "buy" rating and a $185.00 price objective for the company. Oppenheimer reissued an "outperform" rating and set a $225.00 price objective (up previously from $200.00) on shares of NVIDIA in a research report on Thursday. Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Citigroup reissued a "buy" rating on shares of NVIDIA in a research report on Thursday. Finally, Raymond James Financial boosted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 29th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, NVIDIA has a consensus rating of "Moderate Buy" and an average target price of $198.19.

NVIDIA Stock Down 0.1%

Shares of NVDA stock opened at $181.60 on Thursday. The firm has a fifty day moving average of $169.53 and a 200-day moving average of $138.41. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. NVIDIA has a 12-month low of $86.62 and a 12-month high of $184.48. The company has a market capitalization of $4.43 trillion, a price-to-earnings ratio of 58.58, a P/E/G ratio of 1.59 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%.The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the prior year, the company earned $0.61 EPS. The firm's revenue was up 69.2% on a year-over-year basis. As a group, equities research analysts predict that NVIDIA will post 2.77 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director directly owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the transaction, the director directly owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,912,440 shares of company stock valued at $902,886,782 over the last three months. Corporate insiders own 4.17% of the company's stock.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently made changes to their positions in NVDA. FMR LLC raised its stake in NVIDIA by 0.7% in the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after acquiring an additional 6,665,252 shares during the period. State Street Corp boosted its stake in NVIDIA by 1.0% in the 2nd quarter. State Street Corp now owns 978,208,862 shares of the computer hardware maker's stock valued at $154,556,803,000 after purchasing an additional 9,554,857 shares during the period. Geode Capital Management LLC boosted its stake in NVIDIA by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 579,213,497 shares of the computer hardware maker's stock valued at $91,150,170,000 after purchasing an additional 8,521,936 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in NVIDIA by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after purchasing an additional 3,721,331 shares during the period. Finally, Kingstone Capital Partners Texas LLC boosted its stake in NVIDIA by 267,959.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 382,373,765 shares of the computer hardware maker's stock valued at $64,976,521,000 after purchasing an additional 382,231,120 shares during the period. 65.27% of the stock is owned by institutional investors.

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.

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