Truist Financial Boosts NVIDIA (NASDAQ:NVDA) Price Target to $470.00

NVIDIA (NASDAQ:NVDA – Get Rating) had its target price boosted by Truist Financial from $322.00 to $470.00 in a research note released on Thursday morning, The Fly reports.

NVDA has been the topic of a number of other research reports. Credit Suisse Group set a $275.00 price target on NVIDIA in a research note on Wednesday, March 22nd. Mizuho increased their price objective on NVIDIA from $290.00 to $400.00 in a research report on Thursday. Stifel Nicolaus raised their price target on NVIDIA from $225.00 to $300.00 in a research report on Tuesday. Jefferies Financial Group raised their price target on NVIDIA from $275.00 to $300.00 and gave the stock a buy rating in a research report on Thursday, February 23rd. Finally, Westpark Capital initiated coverage on NVIDIA in a research report on Wednesday, March 22nd. They issued a hold rating on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $375.13.

NVIDIA Trading Up 24.4 %

NASDAQ NVDA opened at $379.80 on Thursday. The company has a market cap of $939.29 billion, a PE ratio of 197.81, a PEG ratio of 5.31 and a beta of 1.77. 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 stock has a 50 day moving average of $280.52 and a 200-day moving average of $218.29.

NVIDIA (NASDAQ:NVDA – Get Rating) last released its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS for the quarter, beating the consensus estimate of $0.92 by $0.17. The company had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $6.52 billion. NVIDIA had a return on equity of 24.18% and a net margin of 18.52%. The firm’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.18 EPS. On average, equities research analysts anticipate that NVIDIA will post 3.28 EPS for the current fiscal year.

Insider Activity

In other news, CFO Colette Kress sold 6,000 shares of NVIDIA stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $229.29, for a total transaction of $1,375,740.00. Following the completion of the sale, the chief financial officer now owns 561,401 shares in the company, valued at approximately $128,723,635.29. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other NVIDIA news, Director Mark L. Perry sold 20,000 shares of NVIDIA stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $236.37, for a total value of $4,727,400.00. Following the transaction, the director now directly owns 140,000 shares of the company’s stock, valued at approximately $33,091,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $229.29, for a total value of $1,375,740.00. Following the transaction, the chief financial officer now directly owns 561,401 shares in the company, valued at $128,723,635.29. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,084 shares of company stock worth $14,516,510. 3.99% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NVIDIA

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of NVIDIA by 1.2% during the third quarter. Vanguard Group Inc. now owns 203,747,246 shares of the computer hardware maker’s stock valued at $24,732,878,000 after purchasing an additional 2,326,387 shares in the last quarter. State Street Corp boosted its holdings in NVIDIA by 0.9% in the third quarter. State Street Corp now owns 98,751,264 shares of the computer hardware maker’s stock worth $11,987,416,000 after acquiring an additional 908,481 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of NVIDIA by 9.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock valued at $8,323,694,000 after purchasing an additional 5,043,685 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of NVIDIA by 0.6% during the first quarter. Geode Capital Management LLC now owns 46,056,013 shares of the computer hardware maker’s stock valued at $12,763,663,000 after purchasing an additional 267,061 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of NVIDIA by 20.2% during the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after purchasing an additional 4,621,002 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Company Profile

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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.