KeyCorp Reiterates Overweight Rating for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDA)‘s stock had its “overweight” rating reaffirmed by investment analysts at KeyCorp in a research report issued on Wednesday, Marketbeat.com reports.

Other equities research analysts have also issued reports about the stock. TD Cowen raised their price target on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 price target on shares of NVIDIA in a report on Wednesday. HSBC lowered their price target on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a report on Monday, January 13th. Benchmark reissued a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Wednesday. Finally, Truist Financial raised their price objective on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $171.51.

NVIDIA Stock Performance

Shares of NVDA stock opened at $118.53 on Wednesday. The company’s fifty day simple moving average is $127.28 and its 200-day simple moving average is $131.03. NVIDIA has a 52 week low of $75.61 and a 52 week high of $153.13. 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 company has a market cap of $2.89 trillion, a PE ratio of 46.65, a P/E/G ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The business had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, equities 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 NVIDIA stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now owns 17,279 shares of the company’s stock, valued at $1,900,690. The trade was a 13.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the transaction, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. This represents a 17.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,449 shares of company stock worth $11,960,727. 4.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

Several hedge funds have recently made changes to their positions in the business. Tacita Capital Inc purchased a new position in shares of NVIDIA in the fourth quarter worth approximately $28,000. Legend Financial Advisors Inc. purchased a new position in shares of NVIDIA in the fourth quarter worth approximately $34,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA in the fourth quarter worth approximately $38,000. Luken Investment Analytics LLC purchased a new position in shares of NVIDIA in the fourth quarter worth approximately $40,000. Finally, DHJJ Financial Advisors Ltd. increased its position in shares of NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds 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.