NVIDIA (NASDAQ:NVDA) Price Target Raised to $380.00 at Cascend Securities

NVIDIA (NASDAQ:NVDA) had its price objective upped by Cascend Securities from $370.00 to $380.00 in a report published on Friday morning, BenzingaRatingsTable reports. They currently have a buy rating on the computer hardware maker’s stock.

NVDA has been the subject of a number of other research reports. Needham & Company LLC lifted their price objective on shares of NVIDIA from $360.00 to $400.00 and gave the company a buy rating in a report on Friday. Goldman Sachs Group restated a buy rating on shares of NVIDIA in a report on Tuesday, February 18th. Deutsche Bank lifted their price objective on shares of NVIDIA from $300.00 to $290.00 and gave the company a hold rating in a report on Monday, May 18th. Mizuho restated a buy rating and issued a $400.00 price objective (up previously from $295.00) on shares of NVIDIA in a report on Friday. Finally, Jefferies Financial Group restated a buy rating and issued a $315.00 price objective (up previously from $255.00) on shares of NVIDIA in a report on Wednesday, February 12th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $340.68.

Shares of NVIDIA stock 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 firm’s 50 day moving average price is $292.70 and its two-hundred day moving average price is $252.32. The firm has a market cap of $215.92 billion, a PE ratio of 67.49, a PEG ratio of 3.68 and a beta of 1.33. 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.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, May 21st. The computer hardware maker reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.44. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3 billion. NVIDIA had a net margin of 28.17% and a return on equity of 29.76%. The business’s quarterly revenue was up 38.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 earnings per share. As a group, sell-side analysts predict 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. Investors of record on Friday, June 5th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.18%. NVIDIA’s dividend payout ratio (DPR) is 13.94%.

In related news, Director Robert K. Burgess sold 20,000 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $222.33, for a total value of $4,446,600.00. Following the completion of the sale, the director now owns 13,935 shares in the company, valued at approximately $3,098,168.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 60,000 shares of the company’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $261.63, for a total transaction of $15,697,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,669 shares of company stock valued at $27,025,985. 4.64% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Accurate Investment Solutions Inc. raised its position in NVIDIA by 111.1% in the 1st quarter. Accurate Investment Solutions Inc. now owns 95 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. PrairieView Partners LLC purchased a new position in NVIDIA during the 1st quarter worth $26,000. Howard Wealth Management LLC purchased a new position in NVIDIA during the 4th quarter worth $28,000. Stonebridge Financial Planning Group LLC purchased a new position in NVIDIA during the 4th quarter worth $28,000. Finally, Archer Investment Corp purchased a new position in NVIDIA during the 4th quarter worth $29,000. 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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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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