NVIDIA (NASDAQ:NVDA) Price Target Raised to $400.00

NVIDIA (NASDAQ:NVDA) had its price objective upped by equities researchers at Rosenblatt Securities from $340.00 to $400.00 in a report released on Friday, MarketBeat reports. The firm currently has a “buy” rating on the computer hardware maker’s stock. Rosenblatt Securities’ price objective would suggest a potential upside of 11.67% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on NVDA. Needham & Company LLC increased their price target on NVIDIA from $270.00 to $360.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Deutsche Bank increased their price objective on NVIDIA from $300.00 to $290.00 and gave the stock a “hold” rating in a research report on Monday. Credit Suisse Group assumed coverage on NVIDIA in a research report on Thursday. They set an “outperform” rating and a $425.00 price objective on the stock. Bank of America reiterated a “buy” rating and set a $340.00 price objective on shares of NVIDIA in a research report on Wednesday, April 15th. Finally, Goldman Sachs Group reiterated a “buy” rating on shares of NVIDIA in a research report on Tuesday, February 18th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. NVIDIA presently has a consensus rating of “Buy” and a consensus price target of $335.54.

NVDA opened at $358.21 on Friday. NVIDIA has a 1-year low of $132.60 and a 1-year high of $363.50. The stock’s fifty day simple moving average is $290.96 and its 200 day simple moving average is $251.57. The company has a current ratio of 7.67, a quick ratio of 7.13 and a debt-to-equity ratio of 0.21. The stock has a market cap of $220.71 billion, a PE ratio of 79.25, a price-to-earnings-growth ratio of 3.76 and a beta of 1.33.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results 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 return on equity of 26.08% and a net margin of 25.60%. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the prior year, the business earned $0.88 EPS. The firm’s revenue for the quarter was up 38.7% on a year-over-year basis. Equities analysts forecast that NVIDIA will post 6.29 earnings per share for the current year.

In other news, Director Mark A. Stevens sold 10,000 shares of NVIDIA stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $266.02, for a total transaction of $2,660,200.00. Following the sale, the director now directly owns 160,545 shares of the company’s stock, valued at $42,708,180.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James C. Gaither sold 15,669 shares of NVIDIA stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $269.41, for a total value of $4,221,385.29. Following the sale, the director now directly owns 2,221 shares in the company, valued at $598,359.61. The disclosure for this sale can be found here. Insiders have sold 105,669 shares of company stock worth $27,025,985 over the last three months. Insiders own 4.64% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Equitable Trust Co. boosted its stake in shares of NVIDIA by 585.4% during the first quarter. Equitable Trust Co. now owns 13,894 shares of the computer hardware maker’s stock valued at $3,662,000 after purchasing an additional 11,867 shares in the last quarter. LifeSteps Financial Inc. bought a new position in shares of NVIDIA during the first quarter worth about $215,000. Capital Advisors Inc. OK raised its position in shares of NVIDIA by 4,322.3% during the first quarter. Capital Advisors Inc. OK now owns 37,899 shares of the computer hardware maker’s stock worth $9,990,000 after acquiring an additional 37,042 shares during the last quarter. Phoenix Holdings Ltd. bought a new position in shares of NVIDIA during the first quarter worth about $1,188,000. Finally, Johnson Investment Counsel Inc. raised its position in shares of NVIDIA by 8.5% during the first quarter. Johnson Investment Counsel Inc. now owns 6,602 shares of the computer hardware maker’s stock worth $1,740,000 after acquiring an additional 516 shares during the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

About NVIDIA

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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