NVIDIA (NASDAQ:NVDA) Price Target Increased to $430.00 by Analysts at Wells Fargo & Co

NVIDIA (NASDAQ:NVDA) had its target price boosted by Wells Fargo & Co from $360.00 to $430.00 in a research report released on Friday morning, The Fly reports. Wells Fargo & Co currently has an overweight rating on the computer hardware maker’s stock.

A number of other analysts have also commented on the company. Nomura Securities reaffirmed a sell rating and issued a $230.00 target price on shares of NVIDIA in a research report on Wednesday, March 4th. Jefferies Financial Group reaffirmed a buy rating and issued a $315.00 target price (up from $255.00) on shares of NVIDIA in a research report on Wednesday, February 12th. Cowen reaffirmed an outperform rating and issued a $325.00 target price (up from $240.00) on shares of NVIDIA in a research report on Friday, February 14th. Piper Sandler boosted their target price on NVIDIA from $350.00 to $390.00 and gave the company an overweight rating in a research report on Friday. Finally, Credit Suisse Group initiated coverage on NVIDIA in a research report on Thursday. They issued an outperform rating and a $425.00 target price for the company. Four analysts have rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the stock. NVIDIA presently has a consensus rating of Buy and a consensus price target of $340.68.

Shares of NVDA stock traded up $10.04 during mid-day trading on Friday, hitting $361.05. The company’s stock had a trading volume of 25,601,366 shares, compared to its average volume of 12,644,931. The company’s fifty day simple moving average is $292.70 and its 200-day simple moving average is $252.32. NVIDIA has a 52 week low of $132.60 and a 52 week high of $363.72. The company has a debt-to-equity ratio of 0.21, a quick ratio of 7.13 and a current ratio of 7.67. The company has a market cap of $215.92 billion, a PE ratio of 67.49, a P/E/G ratio of 3.68 and a beta of 1.33.

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

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

In other NVIDIA news, Director James C. Gaither sold 15,669 shares of the business’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $269.41, for a total transaction of $4,221,385.29. Following the sale, the director now owns 2,221 shares of the company’s stock, valued at approximately $598,359.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert K. Burgess sold 20,000 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $222.33, for a total transaction of $4,446,600.00. Following the sale, 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 quarter, insiders sold 105,669 shares of company stock worth $27,025,985. 4.64% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of NVDA. Accurate Investment Solutions Inc. raised its holdings in NVIDIA by 111.1% during the 1st quarter. Accurate Investment Solutions Inc. now owns 95 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 50 shares during the period. PrairieView Partners LLC bought a new position in shares of NVIDIA in the first quarter worth $26,000. Howard Wealth Management LLC bought a new position in shares of NVIDIA in the fourth quarter worth $28,000. Stonebridge Financial Planning Group LLC bought a new position in shares of NVIDIA in the fourth quarter worth $28,000. Finally, Archer Investment Corp bought a new position in shares of NVIDIA in the fourth quarter worth $29,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.

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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