Brokerages Set NVIDIA Co. (NASDAQ:NVDA) Target Price at $270.97

Shares of NVIDIA Co. (NASDAQ:NVDAGet Rating) have been given a consensus recommendation of “Buy” by the thirty-six ratings firms that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $270.97.

Several brokerages recently commented on NVDA. Piper Sandler reduced their target price on shares of NVIDIA from $350.00 to $250.00 and set an “overweight” rating for the company in a report on Wednesday, May 25th. Cowen reduced their target price on shares of NVIDIA from $350.00 to $265.00 and set an “outperform” rating for the company in a report on Thursday, May 26th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $280.00 target price for the company in a report on Wednesday, April 13th. Susquehanna Bancshares reduced their target price on shares of NVIDIA from $280.00 to $260.00 and set a “positive” rating for the company in a report on Thursday, May 26th. Finally, Mizuho cut their price target on shares of NVIDIA from $345.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday, May 26th.

In other NVIDIA news, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $274.06, for a total value of $27,406,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 113,850 shares of the firm’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $158.03, for a total transaction of $17,991,715.50. Following the completion of the transaction, the director now directly owns 2,596,493 shares in the company, valued at $410,323,788.79. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 239,694 shares of company stock worth $50,256,524. 4.04% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of NVDA. Norges Bank acquired a new stake in shares of NVIDIA in the 4th quarter valued at approximately $6,279,217,000. Bank of New York Mellon Corp boosted its stake in shares of NVIDIA by 294.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 24,476,208 shares of the computer hardware maker’s stock valued at $5,070,488,000 after purchasing an additional 18,277,063 shares in the last quarter. Janus Henderson Group PLC boosted its position in NVIDIA by 288.1% during the 3rd quarter. Janus Henderson Group PLC now owns 17,832,017 shares of the computer hardware maker’s stock worth $3,694,005,000 after buying an additional 13,237,122 shares during the period. GQG Partners LLC boosted its position in NVIDIA by 307.4% during the 3rd quarter. GQG Partners LLC now owns 15,135,970 shares of the computer hardware maker’s stock worth $3,135,357,000 after buying an additional 11,420,612 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in NVIDIA by 296.4% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 13,108,247 shares of the computer hardware maker’s stock worth $2,715,504,000 after buying an additional 9,801,806 shares during the period. Institutional investors own 55.19% of the company’s stock.

Shares of NVDA stock opened at $158.80 on Friday. The firm has a fifty day moving average of $184.52 and a 200-day moving average of $233.95. The company has a quick ratio of 4.75, a current ratio of 5.32 and a debt-to-equity ratio of 0.42. NVIDIA has a 12-month low of $153.28 and a 12-month high of $346.47. The company has a market capitalization of $397 billion, a price-to-earnings ratio of 42.57, a P/E/G ratio of 2.13 and a beta of 1.59.

NVIDIA (NASDAQ:NVDAGet Rating) last announced its earnings results on Wednesday, May 25th. The computer hardware maker reported $1.36 EPS for the quarter, topping the consensus estimate of $1.29 by $0.07. NVIDIA had a net margin of 32.02% and a return on equity of 43.81%. The business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.09 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. The firm’s revenue was up 46.4% on a year-over-year basis. On average, equities analysts expect that NVIDIA will post 4.55 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Thursday, June 9th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date is Wednesday, June 8th. NVIDIA’s dividend payout ratio is 4.29%.

NVIDIA Company Profile (Get Rating)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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