Needham & Company LLC Increases NVIDIA (NASDAQ:NVDA) Price Target to $460.00

NVIDIA (NASDAQ:NVDA – Get Rating) had its target price raised by Needham & Company LLC from $300.00 to $460.00 in a research note published on Thursday, The Fly reports.

NVDA has been the subject of several other research reports. KeyCorp raised their price objective on shares of NVIDIA from $320.00 to $375.00 in a research note on Monday. DZ Bank lowered shares of NVIDIA from a buy rating to a sell rating and set a $195.00 price objective for the company. in a research note on Thursday, February 16th. Susquehanna raised their target price on shares of NVIDIA from $350.00 to $450.00 in a report on Thursday. The Goldman Sachs Group raised their target price on shares of NVIDIA from $275.00 to $440.00 in a report on Thursday. Finally, Craig Hallum raised shares of NVIDIA from a hold rating to a buy rating and set a $500.00 target price on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $375.13.

NVIDIA Trading Up 24.4 %

Shares of NVDA opened at $379.80 on Thursday. The company has a current ratio of 3.52, a quick ratio of 2.73 and a debt-to-equity ratio of 0.44. NVIDIA has a 12-month low of $108.13 and a 12-month high of $394.80. The firm has a 50-day moving average price of $280.52 and a 200 day moving average price of $218.29. The firm has a market capitalization of $939.29 billion, a P/E ratio of 197.81, a P/E/G ratio of 5.31 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA – Get Rating) last announced its earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.17. The company had revenue of $7.19 billion during the quarter, compared to analyst estimates of $6.52 billion. NVIDIA had a net margin of 18.52% and a return on equity of 24.18%. NVIDIA’s revenue was down 13.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.18 earnings per share. Sell-side analysts forecast that NVIDIA will post 3.28 EPS for the current year.

Insider Buying and Selling

In other news, EVP Debora Shoquist sold 23,084 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the completion of the sale, the executive vice president now owns 139,860 shares of the company’s stock, valued at $42,657,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Debora Shoquist sold 23,084 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the transaction, the executive vice president now directly owns 139,860 shares in the company, valued at $42,657,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dawn E. Hudson sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $274.55, for a total value of $1,372,750.00. Following the transaction, the director now owns 85,350 shares in the company, valued at $23,432,842.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,084 shares of company stock valued at $14,516,510. 3.99% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Nikulski Financial Inc. increased its holdings in shares of NVIDIA by 1.3% during the first quarter. Nikulski Financial Inc. now owns 2,675 shares of the computer hardware maker’s stock valued at $743,000 after purchasing an additional 35 shares during the period. Opal Wealth Advisors LLC grew its holdings in NVIDIA by 1.8% during the first quarter. Opal Wealth Advisors LLC now owns 2,103 shares of the computer hardware maker’s stock worth $584,000 after acquiring an additional 37 shares during the period. Bradley Foster & Sargent Inc. CT grew its holdings in NVIDIA by 0.3% during the first quarter. Bradley Foster & Sargent Inc. CT now owns 11,710 shares of the computer hardware maker’s stock worth $3,253,000 after acquiring an additional 37 shares during the period. Centurion Wealth Management LLC grew its holdings in NVIDIA by 0.4% during the first quarter. Centurion Wealth Management LLC now owns 8,859 shares of the computer hardware maker’s stock worth $2,461,000 after acquiring an additional 37 shares during the period. Finally, Callan Family Office LLC grew its holdings in NVIDIA by 0.7% during the first quarter. Callan Family Office LLC now owns 5,219 shares of the computer hardware maker’s stock worth $1,450,000 after acquiring an additional 37 shares during the period. 61.80% of the stock is owned by institutional investors and hedge funds.

About NVIDIA

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, 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.