NVIDIA (NASDAQ:NVDA) Price Target Raised to $290.00 at Wedbush

NVIDIA (NASDAQ:NVDA – Get Rating) had its target price increased by Wedbush from $216.00 to $290.00 in a research report released on Monday morning, The Fly reports.

NVDA has been the topic of several other reports. Raymond James reaffirmed a strong-buy rating and issued a $290.00 target price on shares of NVIDIA in a research report on Thursday, March 2nd. DZ Bank lowered NVIDIA from a buy rating to a sell rating and set a $195.00 price objective on the stock. in a report on Thursday, February 16th. Mizuho increased their price objective on NVIDIA from $230.00 to $290.00 and gave the company a buy rating in a report on Wednesday, March 22nd. JPMorgan Chase & Co. increased their price objective on NVIDIA from $220.00 to $250.00 and gave the company an overweight rating in a report on Thursday, February 23rd. Finally, BNP Paribas upgraded NVIDIA from an underperform rating to a neutral rating and set a $230.00 target price for the company in a research note on Tuesday, March 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $375.13.

NVIDIA Stock Up 24.4 %

Shares of NVIDIA stock opened at $379.80 on Monday. The stock has a 50-day moving average price of $280.52 and a 200 day moving average price of $218.29. The company has a market cap of $939.29 billion, a P/E ratio of 218.28, a P/E/G ratio of 5.34 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 1 year low of $108.13 and a 1 year high of $394.80.

NVIDIA (NASDAQ:NVDA – Get Rating) last issued 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. NVIDIA had a return on equity of 26.61% and a net margin of 16.19%. The company had revenue of $7.19 billion for the quarter, compared to analyst estimates of $6.52 billion. During the same period in the prior year, the firm posted $1.18 EPS. The business’s revenue was down 13.2% compared to the same quarter last year. As a group, analysts expect that NVIDIA will post 3.28 EPS for the current fiscal year.

Insider Buying and Selling

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 completion of the sale, the executive vice president now directly owns 139,860 shares of the company’s stock, valued at approximately $42,657,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the sale, the executive vice president now directly owns 139,860 shares of the company’s stock, valued at approximately $42,657,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark L. Perry sold 20,000 shares of the firm’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $236.37, for a total value of $4,727,400.00. Following the sale, the director now directly owns 140,000 shares of the company’s stock, valued at $33,091,800. The disclosure for this sale can be found here. Insiders sold 54,084 shares of company stock worth $14,516,510 in the last 90 days. 3.99% of the stock is owned by company insiders.

Institutional Investors Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Empower Advisory Group LLC acquired a new stake in shares of NVIDIA in the 1st quarter valued at $135,351,000. Old North State Trust LLC increased its stake in shares of NVIDIA by 6.3% in the 1st quarter. Old North State Trust LLC now owns 3,952 shares of the computer hardware maker’s stock valued at $1,098,000 after buying an additional 235 shares during the period. Toroso Investments LLC grew its stake in shares of NVIDIA by 14.2% during the first quarter. Toroso Investments LLC now owns 109,200 shares of the computer hardware maker’s stock worth $30,332,000 after purchasing an additional 13,573 shares during the period. 3Chopt Investment Partners LLC acquired a new stake in shares of NVIDIA during the first quarter worth $3,763,000. Finally, Raleigh Capital Management Inc. grew its stake in shares of NVIDIA by 194.6% during the first quarter. Raleigh Capital Management Inc. now owns 433 shares of the computer hardware maker’s stock worth $120,000 after purchasing an additional 286 shares during the period. 61.80% of the stock is owned by institutional investors and hedge funds.

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.