Citigroup Boosts NVIDIA (NASDAQ:NVDA) Price Target to $392.00

NVIDIA (NASDAQ:NVDA) had its price target raised by Citigroup from $315.00 to $392.00 in a report published on Friday, The Fly reports. They currently have a buy rating on the computer hardware maker’s stock.

NVDA has been the topic of a number of other reports. Piper Sandler boosted their target price on shares of NVIDIA from $350.00 to $390.00 and gave the stock an overweight rating in a report on Friday. Deutsche Bank boosted their target price on shares of NVIDIA from $300.00 to $290.00 and gave the stock a hold rating in a report on Monday, May 18th. Mizuho restated a buy rating and issued a $295.00 target price (up from $270.00) on shares of NVIDIA in a report on Thursday, February 13th. Rosenblatt Securities reaffirmed a buy rating and set a $340.00 price target (up from $315.00) on shares of NVIDIA in a research note on Wednesday, May 13th. Finally, Royal Bank of Canada lifted their price target on shares of NVIDIA from $350.00 to $385.00 and gave the stock an outperform rating in a research note on Tuesday. Four equities 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’s stock. The company has a consensus rating of Buy and an average price target of $340.68.

NASDAQ NVDA traded up $10.04 on Friday, reaching $361.05. The company had a trading volume of 25,601,366 shares, compared to its average volume of 12,644,931. The company has a quick ratio of 7.13, a current ratio of 7.67 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $215.92 billion, a PE ratio of 67.49, a price-to-earnings-growth ratio of 3.68 and a beta of 1.33. The firm’s 50 day moving average price is $292.70 and its 200 day moving average price is $252.32. NVIDIA has a 12 month low of $132.60 and a 12 month high of $363.72.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Thursday, May 21st. The computer hardware maker reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.44. NVIDIA had a net margin of 28.17% and a return on equity of 29.76%. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the previous year, the firm posted $0.88 EPS. The business’s quarterly revenue was up 38.7% on a year-over-year basis. On average, research analysts expect that NVIDIA will post 6.29 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.18%. NVIDIA’s payout ratio is presently 13.94%.

In related news, Director Mark A. Stevens sold 10,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 160,545 shares in the company, valued at approximately $42,708,180.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James C. Gaither sold 15,669 shares of the business’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. Insiders sold a total of 105,669 shares of company stock valued at $27,025,985 in the last ninety days. Corporate insiders own 4.64% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Budros Ruhlin & Roe Inc. raised its stake in shares of NVIDIA by 2.4% during the 1st quarter. Budros Ruhlin & Roe Inc. now owns 1,434 shares of the computer hardware maker’s stock worth $378,000 after acquiring an additional 33 shares in the last quarter. Solstein Capital LLC raised its stake in shares of NVIDIA by 11.1% during the 1st quarter. Solstein Capital LLC now owns 360 shares of the computer hardware maker’s stock worth $95,000 after acquiring an additional 36 shares in the last quarter. San Francisco Sentry Investment Group CA increased its stake in NVIDIA by 7.3% during the 1st quarter. San Francisco Sentry Investment Group CA now owns 572 shares of the computer hardware maker’s stock valued at $151,000 after purchasing an additional 39 shares in the last quarter. HM Payson & Co. increased its stake in NVIDIA by 1.2% during the 4th quarter. HM Payson & Co. now owns 3,517 shares of the computer hardware maker’s stock valued at $828,000 after purchasing an additional 40 shares in the last quarter. Finally, Spotlight Asset Group Inc. increased its stake in NVIDIA by 2.2% during the 1st quarter. Spotlight Asset Group Inc. now owns 1,886 shares of the computer hardware maker’s stock valued at $497,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

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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