NVIDIA (NASDAQ:NVDA) Price Target Increased to $260.00 by Analysts at Nomura

NVIDIA (NASDAQ:NVDA) had its price target hoisted by Nomura from $230.00 to $260.00 in a research report sent to investors on Friday, The Fly reports. The firm currently has a reduce rating on the computer hardware maker’s stock.

A number of other research analysts also recently commented on the stock. Royal Bank of Canada upped their price objective on shares of NVIDIA from $350.00 to $385.00 and gave the company an outperform rating in a research note on Tuesday. BidaskClub raised shares of NVIDIA from a buy rating to a strong-buy rating in a research note on Wednesday, April 1st. Rosenblatt Securities upped their price objective on shares of NVIDIA from $340.00 to $400.00 and gave the company a buy rating in a research note on Friday. SunTrust Banks upped their price objective on shares of NVIDIA from $327.00 to $384.00 and gave the company a buy rating in a research note on Friday. Finally, Mizuho reaffirmed a buy rating and set a $400.00 price objective (up previously from $295.00) on shares of NVIDIA in a research note on Friday. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. NVIDIA presently has a consensus rating of Buy and a consensus target price of $340.68.

NASDAQ:NVDA traded up $10.04 on Friday, reaching $361.05. The stock had a trading volume of 25,601,366 shares, compared to its average volume of 12,644,931. The company 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. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.67 and a quick ratio of 7.13. The firm’s fifty day moving average is $292.70 and its two-hundred day moving average is $252.32. NVIDIA has a 12-month low of $132.60 and a 12-month high of $363.72.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, May 21st. The computer hardware maker reported $1.80 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analyst estimates of $3 billion. During the same period in the prior year, the firm earned $0.88 EPS. The firm’s quarterly revenue was up 38.7% on a year-over-year basis. As a group, research analysts forecast that NVIDIA will post 6.29 earnings per share for the current fiscal year.

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

In other news, Director James C. Gaither sold 15,669 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $269.41, for a total transaction of $4,221,385.29. Following the completion of the transaction, the director now directly owns 2,221 shares in the company, valued at approximately $598,359.61. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert K. Burgess sold 20,000 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 13,935 shares of the company’s stock, valued at $3,098,168.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 105,669 shares of company stock valued at $27,025,985. Company insiders own 4.64% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in NVIDIA by 6.1% during the first quarter. BlackRock Inc. now owns 42,753,245 shares of the computer hardware maker’s stock worth $11,269,755,000 after purchasing an additional 2,439,025 shares during the last quarter. State Street Corp lifted its stake in NVIDIA by 1.4% during the fourth quarter. State Street Corp now owns 24,989,675 shares of the computer hardware maker’s stock worth $5,880,071,000 after purchasing an additional 342,849 shares during the last quarter. Geode Capital Management LLC lifted its stake in NVIDIA by 8.6% during the first quarter. Geode Capital Management LLC now owns 9,400,154 shares of the computer hardware maker’s stock worth $2,473,368,000 after purchasing an additional 743,155 shares during the last quarter. Jennison Associates LLC lifted its stake in NVIDIA by 6.1% during the first quarter. Jennison Associates LLC now owns 8,756,756 shares of the computer hardware maker’s stock worth $2,308,281,000 after purchasing an additional 505,125 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its stake in NVIDIA by 2.8% during the fourth quarter. Baillie Gifford & Co. now owns 7,711,347 shares of the computer hardware maker’s stock worth $1,814,480,000 after purchasing an additional 210,550 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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The Fly

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