NVIDIA (NASDAQ:NVDA) Given New $450.00 Price Target at Bank of America

NVIDIA (NASDAQ:NVDA – Get Rating) had its price objective increased by Bank of America from $340.00 to $450.00 in a research report released on Thursday, The Fly reports.

NVDA has been the subject of a number of other research reports. Truist Financial lifted their target price on NVIDIA from $322.00 to $470.00 in a report on Thursday. KeyCorp lifted their target price on NVIDIA from $320.00 to $375.00 in a report on Monday. Wells Fargo & Company lifted their target price on NVIDIA from $320.00 to $450.00 in a report on Thursday. Citigroup boosted their price objective on NVIDIA from $363.00 to $420.00 in a report on Thursday. Finally, TD Cowen boosted their price objective on NVIDIA from $260.00 to $300.00 and gave the stock an outperform rating in a report on Wednesday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $375.13.

NVIDIA Trading Up 24.4 %

Shares of NVIDIA stock opened at $379.80 on Thursday. NVIDIA has a 52-week low of $108.13 and a 52-week high of $394.80. The stock’s 50-day simple moving average is $280.52 and its 200 day simple moving average is $218.29. The stock 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. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.73 and a current ratio of 3.52.

NVIDIA (NASDAQ:NVDA – Get Rating) last announced its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. NVIDIA had a return on equity of 24.18% and a net margin of 18.52%. The business had revenue of $7.19 billion for the quarter, compared to analysts’ expectations of $6.52 billion. During the same period in the previous year, the business posted $1.18 EPS. The firm’s quarterly revenue was down 13.2% compared to the same quarter last year. As a group, research analysts anticipate that NVIDIA will post 3.28 EPS for the current year.

Insiders Place Their Bets

In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $305.00, for a total value of $7,040,620.00. Following the completion of the transaction, the executive vice president now owns 139,860 shares in the company, valued at $42,657,300. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other NVIDIA news, Director Dawn E. Hudson sold 5,000 shares of the 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 completion of the transaction, the director now owns 85,350 shares in the company, valued at $23,432,842.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Debora Shoquist sold 23,084 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $305.00, for a total value of $7,040,620.00. Following the completion of the transaction, the executive vice president now owns 139,860 shares of the company’s stock, valued at approximately $42,657,300. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,084 shares of company stock worth $14,516,510. 3.99% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NVIDIA

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

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.