NVIDIA (NASDAQ:NVDA) Price Target Increased to $500.00 by Analysts at JPMorgan Chase & Co.

NVIDIA (NASDAQ:NVDA – Get Rating) had its target price hoisted by JPMorgan Chase & Co. from $250.00 to $500.00 in a report issued on Thursday morning, The Fly reports.

NVDA has been the subject of a number of other research reports. Bank of America raised their price objective on shares of NVIDIA from $310.00 to $340.00 and gave the company a buy rating in a research report on Wednesday, April 19th. KeyCorp lifted their price target on shares of NVIDIA from $320.00 to $375.00 in a research report on Monday. Morgan Stanley upgraded shares of NVIDIA from an equal weight rating to an overweight rating and lifted their price target for the company from $255.00 to $304.00 in a research report on Thursday, March 16th. Cowen lifted their price target on shares of NVIDIA from $240.00 to $260.00 in a research report on Thursday, February 23rd. Finally, Jefferies Financial Group lifted their price target on shares of NVIDIA from $275.00 to $300.00 and gave the company a buy rating in a research report on Thursday, February 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $375.13.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $379.80 on Thursday. The company has a quick ratio of 2.73, a current ratio of 3.52 and a debt-to-equity ratio of 0.44. The company has a market cap of $939.29 billion, a P/E ratio of 197.81, a PEG ratio of 5.31 and a beta of 1.77. NVIDIA has a 52 week low of $108.13 and a 52 week high of $394.80. The company has a 50-day moving average price of $280.52 and a 200 day moving average price of $218.29.

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

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 6,000 shares of the stock in a transaction on Monday, March 13th. The stock was sold at an average price of $229.29, for a total value of $1,375,740.00. Following the completion of the sale, the chief financial officer now directly owns 561,401 shares in the company, valued at approximately $128,723,635.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Mark L. Perry sold 20,000 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 140,000 shares in the company, valued at approximately $33,091,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Colette Kress sold 6,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 561,401 shares of the company’s stock, valued at $128,723,635.29. The disclosure for this sale can be found here. In the last three months, insiders sold 54,084 shares of company stock worth $14,516,510. Corporate insiders own 3.99% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empower Advisory Group LLC purchased a new position in NVIDIA in the 1st quarter valued at about $135,351,000. Old North State Trust LLC boosted its position in 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 last quarter. Toroso Investments LLC boosted its position in NVIDIA by 14.2% in the 1st quarter. Toroso Investments LLC now owns 109,200 shares of the computer hardware maker’s stock valued at $30,332,000 after buying an additional 13,573 shares during the last quarter. 3Chopt Investment Partners LLC purchased a new position in NVIDIA in the 1st quarter valued at about $3,763,000. Finally, Raleigh Capital Management Inc. boosted its position in NVIDIA by 194.6% in the 1st quarter. Raleigh Capital Management Inc. now owns 433 shares of the computer hardware maker’s stock valued at $120,000 after buying an additional 286 shares during 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.