NVIDIA (NASDAQ:NVDA) Price Target Increased to $400.00 by Analysts at Rosenblatt Securities

NVIDIA (NASDAQ:NVDA) had its price target upped by Rosenblatt Securities from $340.00 to $400.00 in a research report sent to investors on Friday morning, AnalystRatings.com reports. The firm currently has a buy rating on the computer hardware maker’s stock.

Other equities analysts have also recently issued reports about the company. Wedbush raised their price objective on NVIDIA from $311.00 to $340.00 and gave the stock an outperform rating in a research note on Wednesday, May 13th. Cowen restated an outperform rating and set a $325.00 price objective (up from $240.00) on shares of NVIDIA in a research note on Friday, February 14th. Tigress Financial restated a buy rating on shares of NVIDIA in a research note on Wednesday, April 22nd. Raymond James raised their price objective on NVIDIA from $300.00 to $330.00 and gave the stock an outperform rating in a research note on Friday, May 15th. Finally, Barclays restated a buy rating and set a $300.00 price objective on shares of NVIDIA in a research note on Friday, February 14th. Four investment 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 assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $340.68.

Shares of NVIDIA stock traded up $10.04 on Friday, hitting $361.05. 25,601,366 shares of the company’s stock traded hands, compared to its average volume of 12,644,931. The stock has a market cap of $215.92 billion, a P/E ratio of 67.49, a PEG ratio of 3.68 and a beta of 1.33. 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 firm’s 50-day moving average is $292.70 and its 200 day moving average is $252.32. NVIDIA has a 52-week low of $132.60 and a 52-week high of $363.72.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, May 21st. The computer hardware maker reported $1.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.44. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3 billion. NVIDIA had a return on equity of 29.76% and a net margin of 28.17%. The business’s revenue was up 38.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 EPS. Equities research analysts forecast that NVIDIA will post 6.29 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.18%. NVIDIA’s payout ratio is currently 13.94%.

In related news, Director James C. Gaither sold 15,669 shares of NVIDIA 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 directly owns 2,221 shares of the company’s stock, valued at $598,359.61. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 value of $2,660,200.00. Following the transaction, the director now directly owns 160,545 shares in the company, valued at $42,708,180.90. The disclosure for this sale can be found here. Over the last ninety days, 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 institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in NVIDIA by 21.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,354,466 shares of the computer hardware maker’s stock worth $357,037,000 after purchasing an additional 240,520 shares in the last quarter. FDx Advisors Inc. increased its stake in NVIDIA by 25.3% in the 1st quarter. FDx Advisors Inc. now owns 9,566 shares of the computer hardware maker’s stock worth $2,522,000 after purchasing an additional 1,930 shares in the last quarter. Clearbridge Investments LLC increased its stake in NVIDIA by 1.2% in the 1st quarter. Clearbridge Investments LLC now owns 2,894,465 shares of the computer hardware maker’s stock worth $762,981,000 after purchasing an additional 34,306 shares in the last quarter. Cim Investment Mangement Inc. increased its stake in NVIDIA by 13.3% in the 1st quarter. Cim Investment Mangement Inc. now owns 3,764 shares of the computer hardware maker’s stock worth $992,000 after purchasing an additional 443 shares in the last quarter. Finally, Equitable Trust Co. increased its stake in NVIDIA by 585.4% in the 1st quarter. Equitable Trust Co. now owns 13,894 shares of the computer hardware maker’s stock worth $3,662,000 after purchasing an additional 11,867 shares in 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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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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