NVIDIA (NASDAQ:NVDA) Price Target Raised to $240.60

NVIDIA (NASDAQ:NVDAFree Report) had its target price boosted by CICC Research from $228.00 to $240.60 in a report published on Friday morning,MarketScreener reports. They currently have an outperform rating on the computer hardware maker’s stock.

A number of other analysts also recently weighed in on NVDA. Citigroup increased their price target on NVIDIA from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday. Loop Capital raised their target price on NVIDIA from $250.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Zacks Research upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 25th. HSBC set a $310.00 price target on NVIDIA in a report on Tuesday, February 24th. Finally, Wedbush reiterated an “outperform” rating and issued a $230.00 price objective on shares of NVIDIA in a research note on Monday, February 23rd. Four analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $271.86.

Check Out Our Latest Analysis on NVIDIA

NVIDIA Price Performance

NVIDIA stock opened at $177.19 on Friday. The stock’s 50 day moving average is $186.43 and its 200 day moving average is $183.88. NVIDIA has a one year low of $86.62 and a one year high of $212.19. The firm has a market cap of $4.31 trillion, a P/E ratio of 36.16, a P/E/G ratio of 0.62 and a beta of 2.33. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.91 and a quick ratio of 3.24.

NVIDIA (NASDAQ:NVDAGet Free Report) last released its quarterly earnings results on Wednesday, February 25th. The computer hardware maker reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.08. NVIDIA had a net margin of 55.60% and a return on equity of 97.37%. The firm had revenue of $68.13 billion during the quarter, compared to analyst estimates of $65.56 billion. During the same quarter last year, the business earned $0.89 EPS. The company’s revenue was up 73.2% compared to the same quarter last year. As a group, research analysts expect that NVIDIA will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 11th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend is Wednesday, March 11th. NVIDIA’s payout ratio is currently 0.82%.

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 27,640 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $175.72, for a total transaction of $4,856,900.80. Following the transaction, the chief financial officer directly owned 846,772 shares in the company, valued at approximately $148,794,775.84. This trade represents a 3.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harvey C. Jones sold 250,000 shares of NVIDIA stock in a transaction on Monday, December 15th. The stock was sold at an average price of $177.33, for a total transaction of $44,332,500.00. Following the transaction, the director directly owned 6,933,280 shares in the company, valued at $1,229,478,542.40. This represents a 3.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,610,848 shares of company stock valued at $291,619,375. 4.17% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVDA. Norges Bank purchased a new stake in shares of NVIDIA during the 4th quarter valued at $62,244,133,000. J. Stern & Co. LLP grew its position in NVIDIA by 13,709.1% during the fourth quarter. J. Stern & Co. LLP now owns 125,760,307 shares of the computer hardware maker’s stock valued at $23,454,297,000 after buying an additional 124,849,603 shares during the period. Cardano Risk Management B.V. increased its holdings in NVIDIA by 896.4% during the fourth quarter. Cardano Risk Management B.V. now owns 78,123,960 shares of the computer hardware maker’s stock worth $14,570,119,000 after buying an additional 70,283,539 shares during the last quarter. Capital Research Global Investors raised its position in NVIDIA by 16.1% in the third quarter. Capital Research Global Investors now owns 165,377,852 shares of the computer hardware maker’s stock worth $30,855,564,000 after acquiring an additional 22,896,705 shares during the period. Finally, Laurel Wealth Advisors LLC boosted its stake in NVIDIA by 15,496.1% in the second quarter. Laurel Wealth Advisors LLC now owns 21,865,525 shares of the computer hardware maker’s stock valued at $3,454,534,000 after acquiring an additional 21,725,326 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Key NVIDIA News

Here are the key news stories impacting NVIDIA this week:

About NVIDIA

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NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

Further Reading

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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