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

NVIDIA (NASDAQ:NVDA)‘s stock had its “overweight” rating restated by KeyCorp in a research report issued on Wednesday,Benzinga reports.

NVDA has been the subject of a number of other reports. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft upped their price target on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. Morgan Stanley restated an “overweight” rating and issued a $162.00 target price (up from $152.00) on shares of NVIDIA in a research note on Wednesday, February 26th. Barclays upped their target price on NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Wells Fargo & Company upped their target price on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Four 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $171.51.

NVIDIA Stock Up 2.1 %

NASDAQ:NVDA traded up $2.45 on Wednesday, hitting $117.88. 34,171,350 shares of the company’s stock traded hands, compared to its average volume of 318,531,467. The company has a market cap of $2.88 trillion, a PE ratio of 46.26, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The firm has a 50-day moving average price of $128.17 and a 200-day moving average price of $131.21. NVIDIA has a 1 year low of $75.61 and a 1 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.

NVIDIA (NASDAQ:NVDA) last announced its quarterly 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. The business had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Equities analysts anticipate that NVIDIA will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 sale, the director now directly owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. This trade represents a 17.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction 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 completion of the transaction, the director now directly owns 17,279 shares of the company’s stock, valued at $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,449 shares of company stock valued at $11,960,727. Insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NVDA. AMF Tjanstepension AB raised its stake in NVIDIA by 2.2% in the third quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock valued at $976,348,000 after purchasing an additional 169,445 shares in the last quarter. Wealth Group Ltd. grew its position in NVIDIA by 5.0% in the third quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock valued at $680,000 after acquiring an additional 265 shares during the last quarter. SOA Wealth Advisors LLC. grew its position in NVIDIA by 0.3% in the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock valued at $14,650,000 after acquiring an additional 350 shares during the last quarter. Swedbank AB grew its position in NVIDIA by 4.8% in the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock valued at $4,965,526,000 after acquiring an additional 1,868,358 shares during the last quarter. Finally, Cascade Investment Group Inc. grew its position in NVIDIA by 57.6% in the third quarter. Cascade Investment Group Inc. now owns 7,873 shares of the computer hardware maker’s stock valued at $956,000 after acquiring an additional 2,878 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

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.