NVIDIA (NASDAQ:NVDA) Price Target Raised to $384.00 at SunTrust Banks

NVIDIA (NASDAQ:NVDA) had its target price raised by SunTrust Banks from $327.00 to $384.00 in a research note issued to investors on Friday morning, The Fly reports. They currently have a buy rating on the computer hardware maker’s stock.

A number of other analysts have also commented on NVDA. Zacks Investment Research lowered NVIDIA from a buy rating to a hold rating and set a $297.00 price objective for the company. in a report on Monday, May 4th. Mizuho reissued a buy rating and set a $400.00 price objective (up from $295.00) on shares of NVIDIA in a report on Friday. BidaskClub raised NVIDIA from a buy rating to a strong-buy rating in a report on Wednesday, April 1st. Jefferies Financial Group reissued a buy rating and set a $315.00 price objective (up from $255.00) on shares of NVIDIA in a report on Wednesday, February 12th. Finally, UBS Group boosted their price objective on NVIDIA from $305.00 to $330.00 and gave the stock a buy rating in a report on Friday, April 17th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $340.68.

Shares of NVDA stock traded up $10.04 during mid-day trading on Friday, hitting $361.05. The company’s stock had a trading volume of 25,601,366 shares, compared to its average volume of 12,644,931. The company’s fifty day simple moving average is $292.70 and its 200-day simple moving average is $252.32. NVIDIA has a 52 week low of $132.60 and a 52 week high of $363.72. The company has a debt-to-equity ratio of 0.21, a quick ratio of 7.13 and a current ratio of 7.67. The company has a market cap of $215.92 billion, a PE 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 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.44. NVIDIA had a return on equity of 29.76% and a net margin of 28.17%. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3 billion. During the same period in the previous year, the company posted $0.88 EPS. The firm’s revenue was up 38.7% compared to the same quarter last year. On average, equities analysts anticipate that NVIDIA will post 6.29 earnings per share for the current year.

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

In other NVIDIA news, Director James C. Gaither sold 15,669 shares of the stock in a transaction 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 sale, the director now owns 2,221 shares in the company, valued at $598,359.61. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 160,545 shares in the company, valued at approximately $42,708,180.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 105,669 shares of company stock worth $27,025,985. Company insiders own 4.64% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in NVDA. Norges Bank bought a new position in shares of NVIDIA in the fourth quarter worth $1,337,713,000. BlackRock Inc. increased its holdings in shares of NVIDIA by 6.1% in 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 period. GQG Partners LLC bought a new position in shares of NVIDIA in the fourth quarter worth $572,319,000. Wellington Management Group LLP increased its holdings in shares of NVIDIA by 848.6% in the first quarter. Wellington Management Group LLP now owns 1,870,661 shares of the computer hardware maker’s stock worth $493,106,000 after purchasing an additional 1,673,465 shares during the period. Finally, Advisor Group Holdings Inc. bought a new position in shares of NVIDIA in the first quarter worth $55,241,000. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Company Profile

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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