NVIDIA (NASDAQ:NVDA) Price Target Raised to $420.00 at Citigroup

NVIDIA (NASDAQ:NVDA – Get Rating) had its target price upped by Citigroup from $363.00 to $420.00 in a report released on Thursday, The Fly reports.

NVDA has been the subject of several other research reports. The Goldman Sachs Group increased their price objective on shares of NVIDIA from $275.00 to $440.00 in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of NVIDIA from $200.00 to $220.00 and gave the company a hold rating in a report on Wednesday, March 22nd. Raymond James reissued a strong-buy rating and set a $290.00 price objective on shares of NVIDIA in a report on Thursday, March 2nd. Jefferies Financial Group increased their price objective on shares of NVIDIA from $275.00 to $300.00 and gave the company a buy rating in a report on Thursday, February 23rd. Finally, BMO Capital Markets increased their price objective on shares of NVIDIA from $255.00 to $305.00 and gave the company an outperform rating in a report on Wednesday, March 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $375.13.

NVIDIA Trading Up 24.4 %

Shares of NVIDIA stock opened at $379.80 on Thursday. The company has a market capitalization of $939.29 billion, a P/E ratio of 197.81, a P/E/G ratio of 5.31 and a beta of 1.77. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.73 and a current ratio of 3.52. The company has a fifty day moving average of $280.52 and a 200 day moving average of $218.29. NVIDIA has a fifty-two week low of $108.13 and a fifty-two week high of $394.80.

NVIDIA (NASDAQ:NVDA – Get Rating) last issued its earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.17. The company had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $6.52 billion. NVIDIA had a net margin of 18.52% and a return on equity of 24.18%. NVIDIA’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.18 EPS. On average, sell-side analysts anticipate that NVIDIA will post 3.28 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Debora Shoquist sold 23,084 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the transaction, the executive vice president now directly owns 139,860 shares in the company, valued at $42,657,300. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Mark L. Perry sold 20,000 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $236.37, for a total transaction of $4,727,400.00. Following the transaction, the director now directly owns 140,000 shares in the company, valued at $33,091,800. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Debora Shoquist sold 23,084 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the transaction, the executive vice president now owns 139,860 shares in the company, valued at $42,657,300. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,084 shares of company stock worth $14,516,510. Corporate insiders own 3.99% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Several institutional investors have recently bought and sold shares of the company. Nikulski Financial Inc. boosted its stake in NVIDIA by 1.3% in the first quarter. Nikulski Financial Inc. now owns 2,675 shares of the computer hardware maker’s stock valued at $743,000 after acquiring an additional 35 shares in the last quarter. Opal Wealth Advisors LLC boosted its stake in NVIDIA by 1.8% in the first quarter. Opal Wealth Advisors LLC now owns 2,103 shares of the computer hardware maker’s stock valued at $584,000 after acquiring an additional 37 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its stake in NVIDIA by 0.3% in the first quarter. Bradley Foster & Sargent Inc. CT now owns 11,710 shares of the computer hardware maker’s stock valued at $3,253,000 after acquiring an additional 37 shares in the last quarter. Centurion Wealth Management LLC boosted its stake in NVIDIA by 0.4% in the first quarter. Centurion Wealth Management LLC now owns 8,859 shares of the computer hardware maker’s stock valued at $2,461,000 after acquiring an additional 37 shares in the last quarter. Finally, Callan Family Office LLC boosted its stake in NVIDIA by 0.7% in the first quarter. Callan Family Office LLC now owns 5,219 shares of the computer hardware maker’s stock valued at $1,450,000 after acquiring an additional 37 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Company Profile

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, 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.