NVIDIA (NASDAQ:NVDA) Price Target Raised to $450.00 at Wells Fargo & Company

NVIDIA (NASDAQ:NVDA – Get Rating) had its price objective lifted by Wells Fargo & Company from $320.00 to $450.00 in a report released on Thursday morning, The Fly reports.

Other equities research analysts have also recently issued research reports about the company. Citigroup boosted their target price on NVIDIA from $363.00 to $420.00 in a report on Thursday. Raymond James reissued a strong-buy rating and set a $290.00 target price on shares of NVIDIA in a report on Thursday, March 2nd. Tigress Financial boosted their target price on NVIDIA from $250.00 to $320.00 and gave the stock a buy rating in a report on Thursday, March 30th. Rosenblatt Securities reissued a buy rating and set a $320.00 target price on shares of NVIDIA in a report on Wednesday, March 22nd. Finally, Jefferies Financial Group upped their price target on NVIDIA from $275.00 to $300.00 and gave the company a buy rating in a report on Thursday, February 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $375.13.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $379.80 on Thursday. The company has a current ratio of 3.52, a quick ratio of 2.73 and a debt-to-equity ratio of 0.44. The stock has a 50 day simple moving average of $280.52 and a 200-day simple moving average of $218.29. The company has a market cap of $939.29 billion, a PE ratio of 197.81, a P/E/G ratio of 5.31 and a beta of 1.77. NVIDIA has a 12-month low of $108.13 and a 12-month high of $394.80.

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

Insider Buying and Selling

In related news, Director Dawn E. Hudson sold 5,000 shares of the company’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $274.55, for a total value of $1,372,750.00. Following the completion of the sale, the director now directly owns 85,350 shares in the company, valued at $23,432,842.50. The sale was disclosed in a 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 company’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $305.00, for a total value of $7,040,620.00. Following the completion of the sale, the executive vice president now directly owns 139,860 shares in the company, valued at $42,657,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dawn E. Hudson sold 5,000 shares of the business’s stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $274.55, for a total transaction of $1,372,750.00. Following the transaction, the director now directly owns 85,350 shares of the company’s stock, valued at approximately $23,432,842.50. The disclosure for this sale can be found here. Over 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Empower Advisory Group LLC acquired a new position in NVIDIA during the 1st quarter worth $135,351,000. Old North State Trust LLC lifted its position in NVIDIA by 6.3% during the 1st quarter. Old North State Trust LLC now owns 3,952 shares of the computer hardware maker’s stock worth $1,098,000 after acquiring an additional 235 shares during the last quarter. Toroso Investments LLC lifted its position in NVIDIA by 14.2% during the 1st quarter. Toroso Investments LLC now owns 109,200 shares of the computer hardware maker’s stock worth $30,332,000 after acquiring an additional 13,573 shares during the last quarter. 3Chopt Investment Partners LLC acquired a new position in NVIDIA during the 1st quarter worth $3,763,000. Finally, Raleigh Capital Management Inc. lifted its position in NVIDIA by 194.6% during the 1st quarter. Raleigh Capital Management Inc. now owns 433 shares of the computer hardware maker’s stock worth $120,000 after acquiring an additional 286 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

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.