NVIDIA (NASDAQ:NVDA) Price Target Increased to $145.00 by Analysts at Needham & Company LLC

NVIDIA (NASDAQ:NVDA) had its target price upped by Needham & Company LLC from $120.00 to $145.00 in a research note issued to investors on Thursday morning, Marketbeat.com reports. Needham & Company LLC currently has a buy rating on the computer hardware maker’s stock.

Several other brokerages also recently commented on NVDA. Oppenheimer reissued an outperform rating and issued a $110.00 price target on shares of NVIDIA in a report on Thursday, May 23rd. Wedbush boosted their target price on NVIDIA from $120.00 to $138.00 and gave the stock an outperform rating in a research report on Friday, August 23rd. Argus raised their price target on NVIDIA from $110.00 to $150.00 and gave the company a buy rating in a report on Tuesday, June 11th. Wolfe Research boosted their price objective on NVIDIA from $120.00 to $125.00 and gave the stock an outperform rating in a report on Thursday, May 23rd. Finally, Tigress Financial raised their target price on shares of NVIDIA from $98.50 to $170.00 and gave the company a buy rating in a research note on Tuesday, June 18th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $142.10.

NVIDIA Stock Up 1.5 %

NVDA opened at $119.37 on Thursday. NVIDIA has a 12 month low of $39.23 and a 12 month high of $140.76. The company has a market cap of $2.93 trillion, a PE ratio of 69.81, a price-to-earnings-growth ratio of 1.24 and a beta of 1.68. The company has a current ratio of 4.27, a quick ratio of 3.14 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $120.10 and a 200 day moving average of $103.35.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same period last year, the company earned $0.25 earnings per share. The business’s revenue for the quarter was up 122.4% on a year-over-year basis. On average, sell-side analysts expect that NVIDIA will post 2.6 EPS for the current year.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 2.34%.

NVIDIA declared that its board has initiated a share repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $128.74, for a total value of $15,448,800.00. Following the sale, the chief executive officer now directly owns 81,358,830 shares of the company’s stock, valued at approximately $10,474,135,774.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other NVIDIA news, EVP Debora Shoquist sold 150,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $115.16, for a total value of $17,273,850.00. Following the sale, the executive vice president now directly owns 1,553,630 shares of the company’s stock, valued at $178,914,477.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $128.74, for a total value of $15,448,800.00. Following the transaction, the chief executive officer now owns 81,358,830 shares of the company’s stock, valued at $10,474,135,774.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,932,333 shares of company stock valued at $589,034,302. 4.23% of the stock is currently owned by company insiders.

Institutional Trading of NVIDIA

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of NVIDIA by 4.3% during the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after acquiring an additional 8,828,050 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after purchasing an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of NVIDIA by 1,123.2% during the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after purchasing an additional 84,515,429 shares in the last quarter. 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.