NVIDIA (NASDAQ:NVDA) had its target price boosted by SunTrust Banks from $327.00 to $384.00 in a research report issued to clients and investors on Friday, BenzingaRatingsTable reports. The brokerage presently has a “buy” rating on the computer hardware maker’s stock. SunTrust Banks’ price objective points to a potential upside of 9.40% from the company’s current price.
Several other analysts have also recently commented on NVDA. Sanford C. Bernstein reiterated a “buy” rating and set a $360.00 price target on shares of NVIDIA in a research report on Friday, May 15th. Credit Suisse Group initiated coverage on NVIDIA in a research report on Thursday. They set an “outperform” rating and a $425.00 price target for the company. Wedbush boosted their price target on NVIDIA from $340.00 to $420.00 and gave the stock an “outperform” rating in a research report on Friday. Susquehanna Bancshares boosted their price target on NVIDIA from $355.00 to $410.00 and gave the stock a “positive” rating in a research report on Tuesday. Finally, BMO Capital Markets upgraded NVIDIA from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $285.00 to $425.00 in a research report on Monday. Four equities research 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 assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $321.68.
Shares of NVDA stock opened at $351.01 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.67 and a quick ratio of 7.13. The company has a market cap of $220.71 billion, a price-to-earnings ratio of 77.66, a PEG ratio of 3.76 and a beta of 1.33. The stock has a 50 day simple moving average of $290.96 and a 200-day simple moving average of $251.57. NVIDIA has a 1-year low of $132.60 and a 1-year high of $363.50.
NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, May 21st. The computer hardware maker reported $1.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.60. NVIDIA had a return on equity of 26.08% and a net margin of 25.60%. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the company posted $0.88 EPS. The business’s quarterly revenue was up 38.7% on a year-over-year basis. Analysts anticipate that NVIDIA will post 6.29 earnings per share for the current fiscal year.
In related news, Director James C. Gaither sold 15,669 shares of the stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $269.41, for a total transaction of $4,221,385.29. Following the transaction, the director now owns 2,221 shares of the company’s stock, valued at approximately $598,359.61. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert K. Burgess sold 20,000 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $222.33, for a total value of $4,446,600.00. Following the transaction, the director now directly owns 13,935 shares in the company, valued at approximately $3,098,168.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 105,669 shares of company stock worth $27,025,985. 4.64% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of NVDA. Baker Avenue Asset Management raised its position in NVIDIA by 220.6% in the 3rd quarter. Baker Avenue Asset Management now owns 54,600 shares of the computer hardware maker’s stock valued at $1,346,000 after purchasing an additional 37,570 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft raised its position in NVIDIA by 114.7% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft now owns 519,105 shares of the computer hardware maker’s stock valued at $12,744,000 after purchasing an additional 277,379 shares in the last quarter. Centre Asset Management raised its position in NVIDIA by 41.2% in the 4th quarter. Centre Asset Management now owns 381,658 shares of the computer hardware maker’s stock valued at $12,579,000 after purchasing an additional 111,300 shares in the last quarter. Janus Capital Management raised its position in NVIDIA by 56.3% in the 3rd quarter. Janus Capital Management now owns 883,890 shares of the computer hardware maker’s stock valued at $21,788,000 after purchasing an additional 318,348 shares in the last quarter. Finally, Reynolds Capital Management acquired a new stake in NVIDIA in the 4th quarter valued at about $353,000. 66.68% of the stock is currently owned by institutional investors.
NVIDIA Company Profile
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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