NVIDIA (NASDAQ:NVDA) PT Raised to $1,200.00 at Needham & Company LLC

NVIDIA (NASDAQ:NVDA) had its price objective increased by research analysts at Needham & Company LLC from $850.00 to $1,200.00 in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the computer hardware maker’s stock. Needham & Company LLC’s price target indicates a potential upside of 12.71% from the company’s current price.

A number of other analysts also recently weighed in on NVDA. Stifel Nicolaus increased their price target on NVIDIA from $910.00 to $1,085.00 and gave the stock a “buy” rating in a report on Monday, May 20th. Raymond James increased their price target on NVIDIA from $850.00 to $1,100.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 11th. Piper Sandler increased their price target on NVIDIA from $1,050.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Thursday. Rosenblatt Securities reiterated a “buy” rating and set a $1,400.00 price target on shares of NVIDIA in a report on Monday, May 20th. Finally, JPMorgan Chase & Co. increased their price target on NVIDIA from $650.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,123.49.

NVIDIA Stock Up 2.6 %

Shares of NVDA opened at $1,064.69 on Thursday. NVIDIA has a 52 week low of $366.35 and a 52 week high of $1,064.75. The stock has a market capitalization of $2.62 trillion, a price-to-earnings ratio of 62.26, a PEG ratio of 1.45 and a beta of 1.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.67 and a current ratio of 3.53. The stock has a fifty day moving average of $893.19 and a 200-day moving average of $702.95.

NVIDIA shares are scheduled to split on Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly issued shares will be issued to shareholders after the market closes on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 EPS for the quarter, beating analysts’ consensus estimates of $5.14 by $0.98. The company had revenue of $26.04 billion during the quarter, compared to analysts’ expectations of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. NVIDIA’s revenue was up 262.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 EPS. As a group, sell-side analysts anticipate that NVIDIA will post 23.18 earnings per share for the current fiscal year.

Insider Activity at NVIDIA

In related news, Director John Dabiri sold 128 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the sale, the director now owns 2,055 shares in the company, valued at $1,931,700. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the sale, the director now directly owns 2,055 shares in the company, valued at approximately $1,931,700. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the sale, the insider now owns 49,815 shares of the company’s stock, valued at $45,412,350.30. The disclosure for this sale can be found here. Insiders sold a total of 51,278 shares of company stock worth $44,714,198 over the last 90 days. Company insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cetera Advisor Networks LLC grew its stake in NVIDIA by 8.3% in the 1st quarter. Cetera Advisor Networks LLC now owns 339,828 shares of the computer hardware maker’s stock worth $307,055,000 after acquiring an additional 25,930 shares during the period. Cetera Advisors LLC grew its stake in NVIDIA by 107.2% in the 1st quarter. Cetera Advisors LLC now owns 226,867 shares of the computer hardware maker’s stock worth $204,988,000 after acquiring an additional 117,384 shares during the period. Cetera Investment Advisers grew its stake in NVIDIA by 193.7% in the 1st quarter. Cetera Investment Advisers now owns 680,591 shares of the computer hardware maker’s stock worth $614,955,000 after acquiring an additional 448,841 shares during the period. Invst LLC grew its stake in NVIDIA by 67.6% in the 1st quarter. Invst LLC now owns 5,032 shares of the computer hardware maker’s stock worth $4,547,000 after acquiring an additional 2,029 shares during the period. Finally, Dodds Wealth LLC grew its stake in NVIDIA by 10.7% in the 1st quarter. Dodds Wealth LLC now owns 953 shares of the computer hardware maker’s stock worth $861,000 after acquiring an additional 92 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

About NVIDIA

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.