NVIDIA (NASDAQ:NVDA) Price Target Raised to $384.00 at SunTrust Banks

NVIDIA (NASDAQ:NVDA) had its price objective increased by SunTrust Banks from $327.00 to $384.00 in a research report sent to investors on Friday morning, The Fly reports. SunTrust Banks currently has a buy rating on the computer hardware maker’s stock.

NVDA has been the subject of several other research reports. Royal Bank of Canada raised their price target on shares of NVIDIA from $350.00 to $385.00 and gave the company an outperform rating in a research report on Tuesday. Barclays reissued a buy rating and set a $300.00 price target on shares of NVIDIA in a research report on Friday, February 14th. Citigroup raised their price target on shares of NVIDIA from $315.00 to $392.00 and gave the company a buy rating in a research report on Friday. Wedbush raised their price target on shares of NVIDIA from $340.00 to $420.00 and gave the company an outperform rating in a research report on Friday. Finally, Deutsche Bank lifted their target price on shares of NVIDIA from $300.00 to $290.00 and gave the stock a hold rating in a research report on Monday, May 18th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $340.68.

Shares of NASDAQ NVDA traded up $10.04 on Friday, reaching $361.05. 25,601,366 shares of the company’s stock traded hands, compared to its average volume of 12,644,931. The company has a market cap of $215.92 billion, a price-to-earnings ratio of 67.49, a price-to-earnings-growth 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 business’s 50 day simple moving average is $292.70 and its two-hundred day simple moving average is $252.32. NVIDIA has a 12 month low of $132.60 and a 12 month high of $363.72.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, May 21st. The computer hardware maker reported $1.80 earnings per share 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 the consensus estimate of $3 billion. NVIDIA had a net margin of 28.17% and a return on equity of 29.76%. The firm’s quarterly revenue was up 38.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 earnings per share. Analysts forecast that NVIDIA will post 6.29 earnings per share for the current fiscal 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 $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.18%. NVIDIA’s dividend payout ratio is currently 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 transaction, the director now owns 13,935 shares of the company’s stock, valued at approximately $3,098,168.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Stevens sold 60,000 shares of the company’s stock in a transaction on Monday, April 6th. The stock was 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. Insiders sold a total of 105,669 shares of company stock valued at $27,025,985 in the last ninety days. 4.64% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its holdings 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 buying an additional 240,520 shares during the period. FDx Advisors Inc. lifted 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 lifted 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. lifted 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. lifted 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 owned by 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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