Brokerages Set NVIDIA Corporation (NASDAQ:NVDA) Target Price at $305.67

by · The Markets Daily

NVIDIA Corporation (NASDAQ:NVDAGet Free Report) has been given a consensus rating of “Buy” by the fifty-four research firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, forty-eight have issued a buy rating and three have issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $305.6660.

Several research analysts have commented on NVDA shares. Morgan Stanley set a $288.00 price objective on NVIDIA and gave the stock an “overweight” rating in a report on Thursday, May 21st. Wall Street Zen upgraded NVIDIA from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 23rd. JPMorgan Chase & Co. raised their price objective on NVIDIA from $265.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. DA Davidson reiterated a “buy” rating and issued a $300.00 price target on shares of NVIDIA in a report on Monday, June 1st. Finally, Zacks Research downgraded NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st.

Get Our Latest Report on NVDA

Trending Headlines about NVIDIA

Here are the key news stories impacting NVIDIA this week:

NVIDIA Trading Up 0.2%

NVDA opened at $205.19 on Friday. The stock’s fifty day moving average is $206.84 and its two-hundred day moving average is $191.34. The company has a market capitalization of $4.97 trillion, a P/E ratio of 31.42, a PEG ratio of 0.46 and a beta of 2.22. NVIDIA has a 52 week low of $140.85 and a 52 week high of $236.54. The company has a quick ratio of 2.85, a current ratio of 3.44 and a debt-to-equity ratio of 0.04.

NVIDIA (NASDAQ:NVDAGet Free Report) last released its quarterly earnings data on Wednesday, May 20th. The computer hardware maker reported $1.87 EPS for the quarter, topping the consensus estimate of $1.76 by $0.11. The company had revenue of $81.62 billion for the quarter, compared to the consensus estimate of $78.42 billion. NVIDIA had a return on equity of 96.94% and a net margin of 62.97%.NVIDIA’s quarterly revenue was up 85.2% on a year-over-year basis. During the same period last year, the business posted $0.81 EPS. Analysts forecast that NVIDIA will post 8.65 earnings per share for the current year.

NVIDIA declared that its Board of Directors has initiated a share buyback plan on Wednesday, May 20th that authorizes the company to repurchase $80.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

NVIDIA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Thursday, June 4th will be issued a $0.25 dividend. The ex-dividend date is Thursday, June 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from NVIDIA’s previous quarterly dividend of $0.01. NVIDIA’s dividend payout ratio (DPR) is 15.31%.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 500,000 shares of NVIDIA stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $219.83, for a total value of $109,915,000.00. Following the transaction, the director directly owned 6,399,771 shares in the company, valued at approximately $1,406,861,658.93. This trade represents a 7.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Aarti S. Shah sold 19,000 shares of NVIDIA stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $176.71, for a total value of $3,357,490.00. Following the completion of the transaction, the director owned 36,007 shares in the company, valued at $6,362,796.97. This represents a 34.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,619,457 shares of company stock worth $332,073,643. Insiders own 3.94% of the company’s stock.

Institutional Trading of NVIDIA

Institutional investors have recently made changes to their positions in the business. Lifetime Wealth Management P.C. acquired a new stake in shares of NVIDIA in the 4th quarter worth $26,000. Longview Financial Advisors Inc. acquired a new stake in shares of NVIDIA in the 1st quarter worth $27,000. Longfellow Investment Management Co. LLC boosted its position in shares of NVIDIA by 47.9% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock worth $33,000 after purchasing an additional 67 shares in the last quarter. Phillip James Consulting Co. acquired a new stake in shares of NVIDIA in the 1st quarter worth $40,000. Finally, Spurstone Advisory Services LLC acquired a new stake in shares of NVIDIA in the 2nd quarter worth $40,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

About NVIDIA

(Get Free Report)

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

Further Reading