NVIDIA’s (NVDA) “Overweight” Rating Reiterated at KeyCorp

NVIDIA (NASDAQ:NVDA)‘s stock had its “overweight” rating reissued by equities researchers at KeyCorp in a research note issued on Wednesday,Benzinga reports.

NVDA has been the topic of several other reports. DA Davidson reissued a “neutral” rating and issued a $135.00 price target on shares of NVIDIA in a research note on Thursday, February 27th. Phillip Securities reiterated an “accumulate” rating and set a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Evercore ISI upped their price target on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. The Goldman Sachs Group upped their price target on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, TD Cowen upped their price target on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.51.

NVIDIA Trading Up 2.1 %

Shares of NASDAQ:NVDA traded up $2.45 during midday trading on Wednesday, hitting $117.88. 34,171,350 shares of the stock were exchanged, compared to its average volume of 318,531,467. The business’s 50-day moving average price is $128.17 and its 200 day moving average price is $131.21. NVIDIA has a 12 month low of $75.61 and a 12 month high of $153.13. The stock has a market capitalization of $2.88 trillion, a price-to-earnings ratio of 46.26, a P/E/G ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

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

Insider Buying and Selling

In related news, Director Robert K. Burgess sold 53,324 shares of the firm’s 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 transaction, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following 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 disclosure for this sale can be found here. Insiders have sold a total of 92,449 shares of company stock worth $11,960,727 in the last ninety days. 4.23% of the stock is owned by insiders.

Institutional Investors Weigh In On NVIDIA

A number of large investors have recently made changes to their positions in NVDA. Norges Bank bought a new stake in shares of NVIDIA in the 4th quarter worth approximately $43,515,504,000. International Assets Investment Management LLC grew its position in shares of NVIDIA by 12,898.6% in the 3rd quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock worth $6,836,220,000 after buying an additional 55,859,917 shares during the last quarter. Clear Street Derivatives LLC bought a new stake in shares of NVIDIA in the 3rd quarter worth approximately $4,589,905,000. Northern Trust Corp grew its position in shares of NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after buying an additional 36,266,817 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its position in shares of NVIDIA by 14,641.2% in the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock worth $4,656,682,000 after buying an additional 34,441,082 shares during the last quarter. 65.27% of the stock is currently 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.