NVIDIA (NASDAQ:NVDA) Lifted to Buy at The Goldman Sachs Group

Posted by Defense World Staff on Feb 27th, 2023

The Goldman Sachs Group upgraded shares of NVIDIA (NASDAQ:NVDA – Get Rating) from a neutral rating to a buy rating in a research note released on Thursday, Marketbeat.com reports. They currently have $275.00 price target on the computer hardware maker’s stock, up from their prior price target of $162.00.

A number of other brokerages also recently issued reports on NVDA. Susquehanna Bancshares increased their price target on shares of NVIDIA from $180.00 to $185.00 and gave the stock a positive rating in a report on Thursday, November 17th. Wedbush increased their price target on shares of NVIDIA from $160.00 to $175.00 and gave the stock a neutral rating in a report on Thursday, November 17th. HSBC started coverage on shares of NVIDIA in a report on Thursday, December 15th. They issued a reduce rating and a $136.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock a hold rating in a report on Thursday. Finally, Stifel Nicolaus increased their price target on shares of NVIDIA from $175.00 to $207.00 and gave the stock a hold rating in a report on Tuesday, February 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $237.68.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $232.86 on Thursday. The company’s 50-day moving average is $184.48 and its 200 day moving average is $160.42. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.73 and a current ratio of 3.52. The company has a market capitalization of $579.82 billion, a P/E ratio of 133.83, a price-to-earnings-growth ratio of 4.32 and a beta of 1.79. NVIDIA has a fifty-two week low of $108.13 and a fifty-two week high of $289.46.

NVIDIA (NASDAQ:NVDA – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The computer hardware maker reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. The company had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $6.02 billion. NVIDIA had a net margin of 16.19% and a return on equity of 26.61%. The firm’s quarterly revenue was down 20.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 EPS. On average, equities research analysts forecast that NVIDIA will post 3.08 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 29th. Investors of record on Wednesday, March 8th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.07%. The ex-dividend date is Tuesday, March 7th. NVIDIA’s payout ratio is 9.20%.

Insider Buying and Selling

In related news, CFO Colette Kress sold 10,741 shares of the firm’s stock in a transaction on Thursday, January 26th. The stock was sold at an average price of $200.00, for a total value of $2,148,200.00. Following the completion of the sale, the chief financial officer now owns 536,960 shares of the company’s stock, valued at $107,392,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NVIDIA news, CFO Colette Kress sold 10,741 shares of the firm’s stock in a transaction on Thursday, January 26th. The stock was sold at an average price of $200.00, for a total transaction of $2,148,200.00. Following the completion of the transaction, the chief financial officer now owns 536,960 shares of the company’s stock, valued at $107,392,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Debora Shoquist sold 23,532 shares of the firm’s stock in a transaction on Friday, January 27th. The shares were sold at an average price of $205.00, for a total value of $4,824,060.00. Following the transaction, the executive vice president now directly owns 162,944 shares of the company’s stock, valued at approximately $33,403,520. The disclosure for this sale can be found here. Insiders sold 262,060 shares of company stock valued at $43,817,257 over the last quarter. 4.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVDA. United Bank increased its holdings in shares of NVIDIA by 28.9% during the first quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock valued at $2,106,000 after acquiring an additional 1,730 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of NVIDIA by 6.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock valued at $1,065,457,000 after acquiring an additional 249,045 shares in the last quarter. MAS Advisors LLC increased its holdings in shares of NVIDIA by 42.1% during the first quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock valued at $545,000 after acquiring an additional 583 shares in the last quarter. Navis Wealth Advisors LLC increased its holdings in shares of NVIDIA by 205.3% during the first quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock valued at $791,000 after acquiring an additional 1,950 shares in the last quarter. Finally, Ergoteles LLC bought a new position in shares of NVIDIA during the first quarter valued at $929,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

NVIDIA Company Profile

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, including GeForce for gamers, Quadro for designers, Tesla and DGX for AI data scientists and big data researchers, and GRID for cloud-based visual computing users.