Craig Hallum Boosts NVIDIA (NASDAQ:NVDA) Price Target to $335.00

NVIDIA (NASDAQ:NVDA) had its price target hoisted by Craig Hallum from $300.00 to $335.00 in a research report released on Friday, The Fly reports. Craig Hallum currently has a hold rating on the computer hardware maker’s stock.

Other research analysts have also issued reports about the company. Royal Bank of Canada raised their target price on NVIDIA from $350.00 to $385.00 and gave the stock an outperform rating in a research report on Tuesday. Deutsche Bank lifted their price objective on NVIDIA from $300.00 to $290.00 and gave the stock a hold rating in a research report on Monday, May 18th. Sanford C. Bernstein lifted their price objective on NVIDIA from $360.00 to $415.00 and gave the stock an outperform rating in a research report on Friday. Nomura Securities reissued a sell rating and issued a $230.00 price objective on shares of NVIDIA in a research report on Wednesday, March 4th. Finally, BMO Capital Markets raised NVIDIA from a market perform rating to an outperform rating and lifted their price objective for the stock from $285.00 to $425.00 in a research report on Monday, May 18th. Four analysts have rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $340.68.

NASDAQ:NVDA traded up $10.04 during trading hours on Friday, hitting $361.05. 25,601,366 shares of the company were exchanged, compared to its average volume of 12,644,931. The stock has a market capitalization of $215.92 billion, a price-to-earnings ratio of 67.49, a price-to-earnings-growth ratio of 3.68 and a beta of 1.33. The company has a current ratio of 7.67, a quick ratio of 7.13 and a debt-to-equity ratio of 0.21. NVIDIA has a one year low of $132.60 and a one year high of $363.72. The company has a fifty day simple moving average of $292.70 and a 200 day simple moving average of $252.32.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, May 21st. The computer hardware maker reported $1.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.44. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3 billion. NVIDIA had a return on equity of 29.76% and a net margin of 28.17%. NVIDIA’s revenue for the quarter was up 38.7% compared to the same quarter last year. During the same period last year, the company earned $0.88 EPS. Equities research analysts predict that NVIDIA will post 6.29 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.18%. NVIDIA’s dividend payout ratio (DPR) is currently 13.94%.

In other news, Director Mark A. Stevens sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $261.63, for a total value of $15,697,800.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert K. Burgess sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $222.33, for a total value of $4,446,600.00. Following the completion of the transaction, the director now owns 13,935 shares in the company, valued at approximately $3,098,168.55. The disclosure for this sale can be found here. Insiders sold a total of 105,669 shares of company stock worth $27,025,985 in the last 90 days. Company insiders own 4.64% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its stake in shares of NVIDIA by 21.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,354,466 shares of the computer hardware maker’s stock worth $357,037,000 after buying an additional 240,520 shares during the last quarter. FDx Advisors Inc. boosted its stake in shares of NVIDIA by 25.3% in the 1st quarter. FDx Advisors Inc. now owns 9,566 shares of the computer hardware maker’s stock worth $2,522,000 after buying an additional 1,930 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of NVIDIA by 1.2% in the 1st quarter. Clearbridge Investments LLC now owns 2,894,465 shares of the computer hardware maker’s stock worth $762,981,000 after buying an additional 34,306 shares during the last quarter. Cim Investment Mangement Inc. boosted its stake in shares of NVIDIA by 13.3% in the 1st quarter. Cim Investment Mangement Inc. now owns 3,764 shares of the computer hardware maker’s stock worth $992,000 after buying an additional 443 shares during the last quarter. Finally, Equitable Trust Co. lifted its stake in NVIDIA by 585.4% in the first quarter. Equitable Trust Co. now owns 13,894 shares of the computer hardware maker’s stock valued at $3,662,000 after purchasing an additional 11,867 shares during the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

About NVIDIA

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets 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.

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