NVIDIA (NASDAQ:NVDA) PT Raised to $150.00

NVIDIA (NASDAQ:NVDA) had its price target hoisted by equities research analysts at Argus from $110.00 to $150.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the computer hardware maker’s stock. Argus’ price objective would suggest a potential upside of 24.50% from the stock’s current price.

NVDA has been the topic of several other research reports. Loop Capital initiated coverage on shares of NVIDIA in a research note on Friday, February 16th. They issued a “buy” rating and a $120.00 target price on the stock. Bank of America boosted their target price on shares of NVIDIA from $132.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Robert W. Baird boosted their target price on shares of NVIDIA from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, May 20th. UBS Group boosted their target price on shares of NVIDIA from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Barclays cut their price target on NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating for the company in a report on Monday. Four analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $116.90.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA traded down $1.31 during trading on Tuesday, reaching $120.48. The stock had a trading volume of 159,779,938 shares, compared to its average volume of 496,219,625. The stock has a fifty day simple moving average of $94.72 and a two-hundred day simple moving average of $75.80. The firm has a market capitalization of $296.38 billion, a price-to-earnings ratio of 7.04, a P/E/G ratio of 1.30 and a beta of 1.69. The company has a quick ratio of 3.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.17. NVIDIA has a 52 week low of $38.62 and a 52 week high of $195.95.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.10. The business had revenue of $26.04 billion for the quarter, compared to the consensus estimate of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. NVIDIA’s quarterly revenue was up 262.1% on a year-over-year basis. During the same quarter last year, the company posted $0.09 earnings per share. As a group, analysts anticipate that NVIDIA will post 25.32 earnings per share for the current fiscal year.

Insider Transactions at NVIDIA

In other NVIDIA news, Director John Dabiri sold 1,280 shares of NVIDIA stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $94.00, for a total value of $120,320.00. Following the completion of the sale, the director now directly owns 20,550 shares in the company, valued at $1,931,700. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other NVIDIA news, Director John Dabiri sold 1,280 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $94.00, for a total value of $120,320.00. Following the completion of the sale, the director now owns 20,550 shares of the company’s stock, valued at $1,931,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total value of $119,457,000.00. Following the completion of the sale, the director now directly owns 2,967,136 shares of the company’s stock, valued at approximately $3,544,451,651.52. The disclosure for this sale can be found here. Insiders sold 1,147,870 shares of company stock worth $230,147,038 over the last ninety days. 4.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after purchasing an additional 8,828,050 shares during the last quarter. Norges Bank purchased a new position in shares of NVIDIA during the 4th quarter valued at $14,606,369,000. Northern Trust Corp lifted its position in shares of NVIDIA by 3.6% during the 3rd quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock valued at $11,445,211,000 after buying an additional 910,009 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in NVIDIA by 54,019.5% during the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after purchasing an additional 16,835,703 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in NVIDIA by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,586,595 shares of the computer hardware maker’s stock worth $6,728,354,000 after purchasing an additional 388,851 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

About NVIDIA

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.