NVIDIA (NASDAQ:NVDA) Price Target Raised to $200.00

NVIDIA (NASDAQ:NVDA) had its target price lifted by Needham & Company LLC from $160.00 to $200.00 in a research report sent to investors on Wednesday morning, Marketbeat.com reports. Needham & Company LLC currently has a buy rating on the computer hardware maker’s stock.

A number of other equities analysts have also commented on the stock. Bank of America lifted their price target on shares of NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. UBS Group reiterated a “buy” rating on shares of NVIDIA in a report on Friday, May 23rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. Citigroup lifted their price target on shares of NVIDIA from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Finally, Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $181.22.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $172.41 on Wednesday. NVIDIA has a fifty-two week low of $86.62 and a fifty-two week high of $174.25. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm has a market capitalization of $4.21 trillion, a P/E ratio of 55.62, a P/E/G ratio of 1.52 and a beta of 2.13. The company’s 50 day moving average price is $146.99 and its two-hundred day moving average price is $129.90.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS. On average, equities analysts forecast that NVIDIA will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s payout ratio is presently 1.29%.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 27,650 shares of the business’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the completion of the sale, the chief financial officer directly owned 2,984,516 shares of the company’s stock, valued at $510,023,939.24. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director A Brooke Seawell sold 48,792 shares of the business’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the sale, the director directly owned 1,729,478 shares of the company’s stock, valued at approximately $283,565,212.88. The trade was a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,964,800 shares of company stock valued at $734,906,003 over the last three months. Corporate insiders own 4.17% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Hedge funds and other institutional investors have recently made changes to their positions in the business. Montgomery Investment Management Inc. boosted its holdings in NVIDIA by 15.6% during the second quarter. Montgomery Investment Management Inc. now owns 5,920 shares of the computer hardware maker’s stock worth $935,000 after purchasing an additional 800 shares during the last quarter. CHURCHILL MANAGEMENT Corp boosted its holdings in NVIDIA by 4.4% during the second quarter. CHURCHILL MANAGEMENT Corp now owns 388,633 shares of the computer hardware maker’s stock worth $61,400,000 after purchasing an additional 16,368 shares during the last quarter. Wiser Wealth Management Inc boosted its holdings in NVIDIA by 13.2% during the second quarter. Wiser Wealth Management Inc now owns 10,751 shares of the computer hardware maker’s stock worth $1,699,000 after purchasing an additional 1,253 shares during the last quarter. Brookmont Capital Management boosted its holdings in NVIDIA by 3.1% during the second quarter. Brookmont Capital Management now owns 8,689 shares of the computer hardware maker’s stock worth $1,373,000 after purchasing an additional 259 shares during the last quarter. Finally, EWA LLC boosted its holdings in NVIDIA by 16.4% during the second quarter. EWA LLC now owns 53,196 shares of the computer hardware maker’s stock worth $8,404,000 after purchasing an additional 7,504 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

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.