NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reiterated by Susquehanna Bancshares in a note issued to investors on Friday, Stock Target Advisor reports. They currently have a $420.00 target price on the computer hardware maker’s stock. Susquehanna Bancshares’ price objective suggests a potential upside of 16.33% from the company’s current price.
NVDA has been the subject of several other reports. Wells Fargo & Co lifted their target price on NVIDIA from $360.00 to $430.00 and gave the stock an “overweight” rating in a research note on Friday. Royal Bank of Canada lifted their price objective on shares of NVIDIA from $350.00 to $385.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 19th. Nomura Instinet increased their price objective on shares of NVIDIA from $230.00 to $260.00 and gave the company a “reduce” rating in a research report on Friday. Mizuho reaffirmed a “buy” rating and set a $400.00 target price (up previously from $295.00) on shares of NVIDIA in a report on Friday. Finally, Raymond James increased their price target on shares of NVIDIA from $330.00 to $370.00 and gave the company an “outperform” rating in a report on Friday. 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 company’s stock. The stock currently has an average rating of “Buy” and an average target price of $340.68.
Shares of NVDA stock opened at $361.05 on Friday. The company has a fifty day moving average price of $292.70 and a two-hundred day moving average price of $252.32. NVIDIA has a one year low of $132.60 and a one year high of $363.72. The stock has a market cap of $215.92 billion, a P/E ratio of 67.49, a P/E/G ratio of 3.68 and a beta of 1.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.67 and a quick ratio of 7.13.
NVIDIA (NASDAQ:NVDA) last issued its earnings results on Thursday, May 21st. The computer hardware maker reported $1.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.44. NVIDIA had a net margin of 28.17% and a return on equity of 29.76%. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same period in the prior year, the firm earned $0.88 EPS. NVIDIA’s quarterly revenue was up 38.7% compared to the same quarter last year. As a group, equities research analysts anticipate that NVIDIA will post 6.29 EPS for the current fiscal year.
In related news, Director Mark A. Stevens sold 60,000 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director James C. Gaither sold 15,669 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 2,221 shares of the company’s stock, valued at approximately $598,359.61. 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 currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its position in NVIDIA by 21.6% during 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 acquiring an additional 240,520 shares during the last quarter. FDx Advisors Inc. boosted its stake in shares of NVIDIA by 25.3% during the first quarter. FDx Advisors Inc. now owns 9,566 shares of the computer hardware maker’s stock valued at $2,522,000 after purchasing an additional 1,930 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of NVIDIA by 1.2% during the first 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 during the last quarter. Cim Investment Mangement Inc. increased its stake in shares of NVIDIA by 13.3% in the first quarter. Cim Investment Mangement Inc. now owns 3,764 shares of the computer hardware maker’s stock valued at $992,000 after buying an additional 443 shares during the period. Finally, Equitable Trust Co. boosted its position in NVIDIA by 585.4% during the 1st quarter. Equitable Trust Co. now owns 13,894 shares of the computer hardware maker’s stock worth $3,662,000 after buying an additional 11,867 shares during the period. 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.
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