NVIDIA (NASDAQ:NVDA) had its price target boosted by stock analysts at UBS Group from $330.00 to $400.00 in a note issued to investors on Friday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the computer hardware maker’s stock. UBS Group’s price objective indicates a potential upside of 10.42% from the stock’s previous close.
Other equities research analysts have also issued research reports about the stock. Bank of America reiterated a “buy” rating and set a $340.00 price objective on shares of NVIDIA in a report on Wednesday, April 15th. Credit Suisse Group assumed coverage on shares of NVIDIA in a report on Thursday. They issued an “outperform” rating and a $425.00 price target for the company. Wells Fargo & Co boosted their price target on shares of NVIDIA from $360.00 to $430.00 and gave the company an “overweight” rating in a report on Friday. Oppenheimer boosted their price objective on shares of NVIDIA from $350.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Royal Bank of Canada boosted their price objective on shares of NVIDIA from $350.00 to $385.00 and gave the stock an “outperform” rating in a research note on Tuesday. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $339.59.
NVDA traded up $11.24 on Friday, reaching $362.25. 10,490,948 shares of the company traded hands, compared to its average volume of 12,223,792. NVIDIA has a one year low of $132.60 and a one year high of $363.50. The firm has a fifty day simple moving average of $290.96 and a two-hundred day simple moving average of $251.57. The company has a market cap of $220.71 billion, a P/E ratio of 79.91, a price-to-earnings-growth ratio of 3.76 and a beta of 1.33. The company has a quick ratio of 7.13, a current ratio of 7.67 and a debt-to-equity ratio of 0.21.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, May 21st. The computer hardware maker reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.44. NVIDIA had a net margin of 25.60% and a return on equity of 26.08%. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the business posted $0.88 EPS. The firm’s revenue for the quarter was up 38.7% on a year-over-year basis. On average, equities analysts forecast that NVIDIA will post 6.29 earnings per share for the current year.
In related news, Director Robert K. Burgess sold 20,000 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $222.33, for a total value of $4,446,600.00. Following the completion of the sale, the director now owns 13,935 shares of the company’s stock, valued at $3,098,168.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $266.02, for a total transaction of $2,660,200.00. Following the completion of the sale, the director now directly owns 160,545 shares of the company’s stock, valued at approximately $42,708,180.90. The disclosure for this sale can be found here. Insiders sold 105,669 shares of company stock valued at $27,025,985 over the last quarter. Company insiders own 4.64% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cibc World Markets Corp boosted its stake in NVIDIA by 12.1% during the second quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker’s stock worth $18,549,000 after buying an additional 13,802 shares during the period. Blue Chip Wealth Management Inc. boosted its stake in NVIDIA by 2.7% during the fourth quarter. Blue Chip Wealth Management Inc. now owns 2,701 shares of the computer hardware maker’s stock worth $636,000 after buying an additional 71 shares during the period. Swedbank purchased a new position in NVIDIA during the third quarter worth about $103,681,000. Meiji Yasuda Life Insurance Co boosted its stake in NVIDIA by 9.9% during the second quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock worth $1,600,000 after buying an additional 1,000 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in NVIDIA by 3.8% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 168,761 shares of the computer hardware maker’s stock worth $39,709,000 after buying an additional 6,100 shares during the period. 66.68% of the stock is owned by hedge funds and other institutional investors.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets 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.
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