NVIDIA (NASDAQ:NVDA) Given New $405.00 Price Target at JPMorgan Chase & Co.

NVIDIA (NASDAQ:NVDA) had its price target raised by JPMorgan Chase & Co. from $305.00 to $405.00 in a research report sent to investors on Friday, The Fly reports. JPMorgan Chase & Co. currently has an overweight rating on the computer hardware maker’s stock.

Other equities research analysts have also recently issued research reports about the stock. Rosenblatt Securities raised their target price on shares of NVIDIA from $340.00 to $400.00 and gave the stock a buy rating in a report on Friday. Royal Bank of Canada lifted their price target on shares of NVIDIA from $350.00 to $385.00 and gave the stock an outperform rating in a research note on Tuesday. Jefferies Financial Group reiterated a buy rating and set a $315.00 price target (up previously from $255.00) on shares of NVIDIA in a research note on Wednesday, February 12th. Cowen lifted their price target on shares of NVIDIA from $325.00 to $410.00 and gave the stock an outperform rating in a research note on Friday. Finally, Raymond James lifted their price target on shares of NVIDIA from $330.00 to $370.00 and gave the stock an outperform rating in a research note on Friday. Four analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $340.68.

NVDA stock traded up $10.04 on Friday, hitting $361.05. The company had a trading volume of 25,601,366 shares, compared to its average volume of 12,644,931. NVIDIA has a 12-month low of $132.60 and a 12-month high of $363.72. The company has a current ratio of 7.67, a quick ratio of 7.13 and a debt-to-equity ratio of 0.21. The stock’s 50-day simple moving average is $292.70 and its 200 day simple moving average is $252.32. The stock has a market cap of $215.92 billion, a price-to-earnings ratio of 67.49, a P/E/G ratio of 3.68 and a beta of 1.33.

NVIDIA (NASDAQ:NVDA) last issued 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. NVIDIA had a net margin of 28.17% and a return on equity of 29.76%. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same quarter last year, the company posted $0.88 earnings per share. The firm’s quarterly revenue was up 38.7% on a year-over-year basis. Research analysts forecast that NVIDIA will post 6.29 earnings per share for the current 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 issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.18%. NVIDIA’s dividend payout ratio is currently 13.94%.

In other news, Director Robert K. Burgess sold 20,000 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $222.33, for a total value of $4,446,600.00. Following the sale, the director now directly owns 13,935 shares in the company, valued at approximately $3,098,168.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark A. Stevens sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $266.02, for a total transaction of $2,660,200.00. Following the completion of the sale, the director now owns 160,545 shares in the company, valued at $42,708,180.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 105,669 shares of company stock worth $27,025,985. Insiders own 4.64% of the company’s stock.

Several institutional investors have recently bought and sold shares of NVDA. Orser Capital Management LLC increased its holdings in shares of NVIDIA by 5.6% in the 4th quarter. Orser Capital Management LLC now owns 10,206 shares of the computer hardware maker’s stock worth $2,371,000 after buying an additional 545 shares during the last quarter. Savior LLC purchased a new position in shares of NVIDIA during the 4th quarter worth about $44,000. Weatherly Asset Management L. P. purchased a new position in shares of NVIDIA during the 4th quarter worth about $249,000. Joseph P. Lucia & Associates LLC boosted its stake in shares of NVIDIA by 30.4% during the 4th quarter. Joseph P. Lucia & Associates LLC now owns 433 shares of the computer hardware maker’s stock worth $102,000 after purchasing an additional 101 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of NVIDIA by 7.1% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,233 shares of the computer hardware maker’s stock worth $525,000 after purchasing an additional 148 shares during the period. 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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