NVIDIA (NASDAQ:NVDA) PT Raised to $1,250.00

NVIDIA (NASDAQ:NVDA) had its price objective increased by Wolfe Research from $1,200.00 to $1,250.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage currently has an “outperform” rating on the computer hardware maker’s stock. Wolfe Research’s price target indicates a potential upside of 17.41% from the company’s previous close.

Several other research firms have also recently weighed in on NVDA. Citigroup upped their price target on shares of NVIDIA from $820.00 to $1,030.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. HSBC upped their price target on shares of NVIDIA from $1,050.00 to $1,350.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Stifel Nicolaus upped their price target on shares of NVIDIA from $910.00 to $1,085.00 and gave the stock a “buy” rating in a report on Monday, May 20th. Oppenheimer reaffirmed an “outperform” rating and issued a $1,100.00 price target on shares of NVIDIA in a report on Friday, May 17th. Finally, Raymond James upped their price target on shares of NVIDIA from $850.00 to $1,100.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,123.49.

NVIDIA Trading Up 2.6 %

NASDAQ:NVDA opened at $1,064.69 on Thursday. The company has a current ratio of 3.53, a quick ratio of 3.67 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.62 trillion, a PE ratio of 62.26, a price-to-earnings-growth ratio of 1.45 and a beta of 1.75. The firm’s 50 day moving average is $893.19 and its 200 day moving average is $702.95. NVIDIA has a 12 month low of $366.35 and a 12 month high of $1,064.75.

NVIDIA shares are going to split before the market opens on Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly issued shares will be payable to shareholders after the closing bell on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 EPS for the quarter, topping analysts’ consensus estimates of $5.14 by $0.98. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The company had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $24.59 billion. During the same quarter in the previous year, the firm posted $0.88 EPS. NVIDIA’s revenue was up 262.1% on a year-over-year basis. Sell-side analysts expect that NVIDIA will post 23.18 earnings per share for the current year.

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the transaction, the director now owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $905.65, for a total transaction of $9,962,150.00. Following the completion of the transaction, the director now owns 1,074,833 shares of the company’s stock, valued at $973,422,506.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the transaction, the director now directly owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The disclosure for this sale can be found here. Insiders sold a total of 51,278 shares of company stock valued at $44,714,198 over the last three months. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of NVIDIA during the fourth quarter valued at approximately $14,606,369,000. International Assets Investment Management LLC grew its holdings in shares of NVIDIA by 54,019.5% during the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after buying an additional 16,835,703 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of NVIDIA by 4.3% during the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after buying an additional 8,828,050 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in shares of NVIDIA during the first quarter valued at approximately $4,826,280,000. Finally, Swedbank AB purchased a new stake in shares of NVIDIA during the first quarter valued at approximately $3,922,733,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Company Profile

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.