NVIDIA’s (NVDA) Outperform Rating Reaffirmed at William Blair

NVIDIA (NASDAQ:NVDA)‘s stock had its “outperform” rating reiterated by William Blair in a research note issued on Thursday,RTT News reports.

Other analysts have also recently issued research reports about the company. Susquehanna restated a “positive” rating and set a $180.00 target price on shares of NVIDIA in a report on Wednesday. Mizuho decreased their price objective on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a report on Friday, March 14th. Barclays boosted their target price on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Loop Capital reissued a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a report on Wednesday, November 20th. Finally, HSBC reduced their price objective on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Four 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.76.

NVIDIA Price Performance

NVDA stock traded up $1.70 during trading on Thursday, hitting $119.22. 107,295,959 shares of the stock traded hands, compared to its average volume of 283,166,063. The stock has a market cap of $2.91 trillion, a price-to-earnings ratio of 46.91, a P/E/G ratio of 1.76 and a beta of 1.77. NVIDIA has a one year low of $75.61 and a one year 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 50 day simple moving average of $127.71 and a 200 day simple moving average of $131.12.

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

Insider Activity at NVIDIA

In other news, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the transaction, the director now owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. This represents a 17.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $292,930.00. Following the sale, the director now directly owns 17,279 shares in the company, valued at $1,900,690. This trade represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,449 shares of company stock valued at $11,960,727 over the last ninety days. 4.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Hoertkorn Richard Charles boosted its stake in shares of NVIDIA by 2.0% during the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after purchasing an additional 70 shares in the last quarter. DiNuzzo Private Wealth Inc. raised its holdings in NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after buying an additional 71 shares during the last quarter. Smart Portfolios LLC boosted its position in NVIDIA by 2.7% during the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after buying an additional 75 shares during the period. Palisade Asset Management LLC grew its holdings in NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after acquiring an additional 75 shares during the last quarter. Finally, Baker Boyer National Bank increased its position in NVIDIA by 3.3% in the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock valued at $323,000 after acquiring an additional 76 shares during the period. 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.