Oppenheimer Boosts NVIDIA (NASDAQ:NVDA) Price Target to $400.00

NVIDIA (NASDAQ:NVDA) had its target price boosted by Oppenheimer from $350.00 to $400.00 in a research report sent to investors on Friday morning, The Fly reports. The brokerage currently has an outperform rating on the computer hardware maker’s stock.

A number of other equities analysts have also recently weighed in on the company. Nomura restated a sell rating and issued a $230.00 price target on shares of NVIDIA in a report on Sunday, May 17th. SunTrust Banks upped their price target on NVIDIA from $327.00 to $384.00 and gave the stock a buy rating in a report on Friday. Tigress Financial restated a buy rating on shares of NVIDIA in a report on Wednesday, April 22nd. Morgan Stanley upped their price target on NVIDIA from $268.00 to $282.00 and gave the stock an overweight rating in a report on Tuesday, April 28th. Finally, Piper Sandler upped their price target on NVIDIA from $350.00 to $390.00 and gave the stock an overweight rating in a report on Friday. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $340.68.

NVDA traded up $10.04 on Friday, reaching $361.05. 25,601,366 shares of the company’s stock were exchanged, compared to its average volume of 12,644,931. The company’s 50 day moving average is $292.70 and its 200-day moving average is $252.32. The company has a market cap of $215.92 billion, a price-to-earnings ratio of 67.49, a PEG ratio of 3.68 and a beta of 1.33. NVIDIA has a twelve month low of $132.60 and a twelve month 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 posted its earnings results on Thursday, May 21st. The computer hardware maker reported $1.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.44. The firm 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 company’s revenue was up 38.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. Sell-side analysts forecast that NVIDIA will post 6.29 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders 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 is presently 13.94%.

In other NVIDIA news, Director Mark A. Stevens sold 60,000 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $261.63, for a total value of $15,697,800.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert K. Burgess sold 20,000 shares of the stock in a transaction on Monday, March 16th. The stock was 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 directly owns 13,935 shares in the company, valued at $3,098,168.55. The disclosure for this sale can be found here. Insiders sold 105,669 shares of company stock worth $27,025,985 over the last ninety days. 4.64% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Accurate Investment Solutions Inc. increased its holdings in shares of NVIDIA by 111.1% during the first 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 period. PrairieView Partners LLC acquired a new position in shares of NVIDIA during the first quarter valued at $26,000. Howard Wealth Management LLC acquired a new position in shares of NVIDIA during the fourth quarter valued at $28,000. Stonebridge Financial Planning Group LLC acquired a new position in shares of NVIDIA during the fourth quarter valued at $28,000. Finally, Archer Investment Corp acquired a new position in shares of NVIDIA during the fourth quarter valued at $29,000. 66.68% of the stock is currently owned by institutional investors.

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.

Featured Article: How to interpret a stock’s beta number

The Fly

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.