NVIDIA (NASDAQ:NVDA) had its price target increased by Wells Fargo & Co from $270.00 to $290.00 in a report issued on Tuesday, The Fly reports. Wells Fargo & Co currently has an overweight rating on the computer hardware maker’s stock.
NVDA has been the subject of several other reports. Citigroup reiterated a buy rating and issued a $245.00 price target on shares of NVIDIA in a research note on Friday, January 10th. Argus increased their price target on shares of NVIDIA from $240.00 to $300.00 and gave the stock a buy rating in a research note on Monday, January 13th. Needham & Company LLC upgraded shares of NVIDIA from an underperform rating to a hold rating in a research note on Monday, January 13th. Craig Hallum reiterated a positive rating and issued a $300.00 price target (up from $255.00) on shares of NVIDIA in a research note on Monday, January 13th. Finally, Tigress Financial reiterated a buy rating on shares of NVIDIA in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $255.75.
Shares of NVIDIA stock traded up $19.01 during trading on Tuesday, hitting $289.79. The company’s stock had a trading volume of 26,019,781 shares, compared to its average volume of 7,764,954. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.71 and a current ratio of 8.42. The company has a fifty day simple moving average of $245.31 and a two-hundred day simple moving average of $203.66. The company has a market capitalization of $177.54 billion, a PE ratio of 74.12, a P/E/G ratio of 3.88 and a beta of 2.04. NVIDIA has a 52 week low of $132.60 and a 52 week high of $273.48.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, February 13th. The computer hardware maker reported $1.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.22. The company had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. NVIDIA had a net margin of 24.08% and a return on equity of 22.02%. During the same period last year, the business earned $0.80 EPS. As a group, analysts predict that NVIDIA will post 4.32 EPS for the current year.
In other news, Director Robert K. Burgess sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $230.71, for a total transaction of $1,845,680.00. Following the sale, the director now owns 13,894 shares of the company’s stock, valued at approximately $3,205,484.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director A Brooke Seawell sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $212.75, for a total transaction of $4,255,000.00. Following the sale, the director now directly owns 22,221 shares in the company, valued at approximately $4,727,517.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,785 shares of company stock worth $11,454,424. Insiders own 4.64% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of NVIDIA by 1.4% during the 4th quarter. State Street Corp now owns 24,989,675 shares of the computer hardware maker’s stock valued at $5,880,071,000 after acquiring an additional 342,849 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of NVIDIA by 2.8% during the 4th quarter. Baillie Gifford & Co. now owns 7,711,347 shares of the computer hardware maker’s stock valued at $1,814,480,000 after acquiring an additional 210,550 shares during the last quarter. Loomis Sayles & Co. L P boosted its holdings in shares of NVIDIA by 2.6% during the 4th quarter. Loomis Sayles & Co. L P now owns 5,827,815 shares of the computer hardware maker’s stock valued at $1,371,284,000 after acquiring an additional 149,366 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of NVIDIA by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,626,261 shares of the computer hardware maker’s stock worth $617,960,000 after buying an additional 57,433 shares during the last quarter. Finally, GQG Partners LLC purchased a new position in shares of NVIDIA in the fourth quarter worth approximately $572,319,000. 65.23% of the stock is currently owned by hedge funds and other institutional investors.
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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