NVIDIA (NASDAQ:NVDA) Price Target Raised to $400.00 at UBS Group

NVIDIA (NASDAQ:NVDA) had its price objective increased by UBS Group from $330.00 to $400.00 in a report issued on Friday, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the computer hardware maker’s stock.

NVDA has been the subject of several other reports. Tigress Financial reissued a buy rating on shares of NVIDIA in a report on Wednesday, April 22nd. Benchmark lifted their price objective on NVIDIA from $320.00 to $410.00 and gave the company a buy rating in a report on Friday. Citigroup lifted their price objective on NVIDIA from $315.00 to $392.00 and gave the company a buy rating in a report on Friday. Royal Bank of Canada lifted their price objective on NVIDIA from $350.00 to $385.00 and gave the company an outperform rating in a report on Tuesday. Finally, Sanford C. Bernstein lifted their price objective on NVIDIA from $360.00 to $415.00 and gave the company an outperform rating in a report on Friday. Four equities research 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 given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $340.68.

NASDAQ:NVDA traded up $10.04 during mid-day trading 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. 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 business’s fifty day moving average is $292.70 and its two-hundred day moving average is $252.32. The firm has a market cap of $215.92 billion, a P/E ratio of 67.49, a P/E/G ratio of 3.68 and a beta of 1.33. NVIDIA has a fifty-two week low of $132.60 and a fifty-two week high of $363.72.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, May 21st. The computer hardware maker reported $1.80 earnings per share 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 analysts’ expectations of $3 billion. NVIDIA had a return on equity of 29.76% and a net margin of 28.17%. The firm’s revenue for the quarter was up 38.7% compared to the same quarter last year. During the same period last year, the firm posted $0.88 EPS. Equities analysts forecast that NVIDIA will post 6.29 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.18%. NVIDIA’s dividend payout ratio is 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 stock was sold at an average price of $222.33, for a total value of $4,446,600.00. Following the transaction, the director now directly owns 13,935 shares of the company’s stock, valued at approximately $3,098,168.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James C. Gaither sold 15,669 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 2,221 shares in the company, valued at $598,359.61. The disclosure for this sale can be found here. Insiders sold a total of 105,669 shares of company stock worth $27,025,985 over the last three months. 4.64% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in NVDA. Orser Capital Management LLC lifted its stake 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 valued at $2,371,000 after purchasing an additional 545 shares during the period. Savior LLC acquired a new position in NVIDIA during the 4th quarter worth approximately $44,000. Weatherly Asset Management L. P. acquired a new position in NVIDIA during the 4th quarter worth approximately $249,000. Joseph P. Lucia & Associates LLC raised its stake in 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 buying an additional 101 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in 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 buying an additional 148 shares during the period. 66.68% of the stock is currently owned by institutional investors.

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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