NVIDIA (NASDAQ:NVDA) Given New $200.00 Price Target at Bank of America

NVIDIA (NASDAQ:NVDA - Get Free Report) had its price objective upped by equities research analysts at Bank of America from $190.00 to $200.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the computer hardware maker's stock. Bank of America's price target would indicate a potential upside of 60.25% from the stock's previous close.

A number of other equities analysts have also recently weighed in on NVDA. UBS Group increased their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Oppenheimer reaffirmed an "outperform" rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. The Goldman Sachs Group boosted their price objective on NVIDIA from $150.00 to $165.00 and gave the company a "buy" rating in a report on Thursday, November 21st. Raymond James raised their target price on NVIDIA from $140.00 to $170.00 and gave the company a "strong-buy" rating in a report on Thursday, November 14th. Finally, DA Davidson boosted their price target on shares of NVIDIA from $90.00 to $135.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $169.62.

NVIDIA Trading Up 3.9 %

Shares of NVIDIA stock traded up $4.66 during trading hours on Thursday, hitting $124.81. The company's stock had a trading volume of 387,840,609 shares, compared to its average volume of 274,489,156. The firm has a fifty day moving average of $134.19 and a 200-day moving average of $132.03. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market cap of $3.05 trillion, a price-to-earnings ratio of 49.12, a P/E/G ratio of 1.76 and a beta of 1.62. NVIDIA has a twelve month low of $75.61 and a twelve month high of $153.13.

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

Insider Transactions at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares of the company's stock, valued at $65,056,016.72. This represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,107,632 shares of company stock worth $146,405,286. Insiders own 4.23% of the company's stock.

Institutional Investors Weigh In On NVIDIA

Hedge funds have recently modified their holdings of the stock. FMR LLC boosted its holdings in shares of NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after acquiring an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC lifted its position in NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in NVIDIA by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after purchasing an additional 3,721,331 shares in the last quarter. Norges Bank purchased a new stake in NVIDIA in the 4th quarter valued at approximately $43,515,504,000. Finally, Northern Trust Corp increased its position in NVIDIA by 15.8% during 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 purchasing an additional 36,266,817 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

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.