NVIDIA (NASDAQ:NVDA) Price Target Increased to $410.00 by Analysts at Benchmark

NVIDIA (NASDAQ:NVDA) had its target price boosted by Benchmark from $320.00 to $410.00 in a research report released on Friday, Briefing.com Automated Import reports. Benchmark currently has a buy rating on the computer hardware maker’s stock.

A number of other equities research analysts have also recently weighed in on NVDA. UBS Group lifted their price target on shares of NVIDIA from $305.00 to $330.00 and gave the company a buy rating in a research report on Friday, April 17th. Wedbush lifted their price target on shares of NVIDIA from $340.00 to $420.00 and gave the company an outperform rating in a research report on Friday. Mizuho reiterated a buy rating and set a $400.00 price target (up from $295.00) on shares of NVIDIA in a research report on Friday. Cascend Securities raised their price objective on shares of NVIDIA from $330.00 to $350.00 and gave the company a buy rating in a research note on Thursday, May 14th. Finally, Sanford C. Bernstein raised their price objective on shares of NVIDIA from $360.00 to $415.00 and gave the company an outperform rating in a research note on Friday. Four equities research 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 assigned a strong buy rating to the company’s stock. NVIDIA currently has an average rating of Buy and a consensus price target of $340.68.

NVIDIA stock traded up $10.04 during midday trading on Friday, hitting $361.05. 25,601,366 shares of the stock were exchanged, compared to its average volume of 12,644,931. NVIDIA has a fifty-two week low of $132.60 and a fifty-two week high of $363.72. The stock has a market capitalization of $215.92 billion, a price-to-earnings ratio of 67.49, a PEG ratio of 3.68 and a beta of 1.33. The stock’s 50-day simple moving average is $292.70 and its 200 day simple moving average is $252.32. 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 (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, May 21st. The computer hardware maker reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.44. NVIDIA had a net margin of 28.17% and a return on equity of 29.76%. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period last year, the business earned $0.88 earnings per share. The business’s revenue for the quarter was up 38.7% on a year-over-year basis. Equities analysts anticipate that NVIDIA will post 6.29 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be issued 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 payout ratio is currently 13.94%.

In other news, Director James C. Gaither sold 15,669 shares of NVIDIA stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $269.41, for a total value of $4,221,385.29. Following the transaction, the director now directly owns 2,221 shares of the company’s stock, valued at approximately $598,359.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 60,000 shares of NVIDIA stock in a transaction on Monday, April 6th. The shares were sold at an average price of $261.63, for a total transaction of $15,697,800.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 105,669 shares of company stock worth $27,025,985. 4.64% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Accurate Investment Solutions Inc. increased its holdings in shares of NVIDIA by 111.1% in the 1st quarter. Accurate Investment Solutions Inc. now owns 95 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 50 shares during the period. PrairieView Partners LLC acquired a new position in shares of NVIDIA in the 1st quarter valued at $26,000. Stonebridge Financial Planning Group LLC acquired a new position in shares of NVIDIA in the 4th quarter valued at $28,000. Howard Wealth Management LLC acquired a new position in NVIDIA in the 4th quarter valued at $28,000. Finally, Braun Bostich & Associates Inc. acquired a new position in NVIDIA in the 4th quarter valued at $30,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.

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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