Brokerages Set NVIDIA Co. (NASDAQ:NVDA) Target Price at $667.47

Shares of NVIDIA Co. (NASDAQ:NVDA) have been assigned an average rating of “Buy” from the thirty-five ratings firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $667.47.

A number of brokerages have recently weighed in on NVDA. UBS Group lifted their price target on NVIDIA from $670.00 to $735.00 and gave the company a “buy” rating in a report on Thursday, May 27th. BMO Capital Markets lifted their price target on NVIDIA from $650.00 to $680.00 and gave the company an “outperform” rating in a report on Monday, February 22nd. KeyCorp boosted their target price on NVIDIA from $700.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday, May 27th. Rosenblatt Securities boosted their target price on NVIDIA from $700.00 to $800.00 and gave the company a “buy” rating in a research note on Tuesday, April 13th. Finally, Bank of America boosted their target price on NVIDIA from $700.00 to $750.00 and gave the company a “buy” rating in a research note on Thursday, May 27th.

Shares of NVIDIA stock opened at $697.00 on Tuesday. The stock’s fifty day moving average is $610.14. The firm has a market capitalization of $434.23 billion, a price-to-earnings ratio of 82.49, a PEG ratio of 3.07 and a beta of 1.37. The company has a quick ratio of 4.03, a current ratio of 4.53 and a debt-to-equity ratio of 0.32. NVIDIA has a 12-month low of $348.13 and a 12-month high of $712.50.

Shares of NVIDIA are set to split on Tuesday, July 20th. The 4-1 split was announced on Friday, May 21st. The newly minted shares will be payable to shareholders after the closing bell on Monday, July 19th.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Tuesday, May 25th. The computer hardware maker reported $3.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.38. NVIDIA had a return on equity of 37.98% and a net margin of 27.66%. As a group, equities analysts anticipate that NVIDIA will post 13.09 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Thursday, June 10th will be given a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, June 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.09%. NVIDIA’s dividend payout ratio is currently 7.77%.

In related news, Director John Dabiri sold 103 shares of the firm’s stock in a transaction on Tuesday, June 1st. The stock was sold at an average price of $651.15, for a total transaction of $67,068.45. Following the completion of the sale, the director now directly owns 1,067 shares of the company’s stock, valued at approximately $694,777.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark L. Perry sold 6,104 shares of the firm’s stock in a transaction on Monday, April 5th. The shares were sold at an average price of $556.58, for a total value of $3,397,364.32. Following the sale, the director now directly owns 8,031 shares of the company’s stock, valued at $4,469,893.98. The disclosure for this sale can be found here. Insiders have sold a total of 91,614 shares of company stock valued at $58,603,115 in the last 90 days. 4.23% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Savior LLC increased its holdings in NVIDIA by 8.9% during the 1st quarter. Savior LLC now owns 209 shares of the computer hardware maker’s stock valued at $112,000 after purchasing an additional 17 shares in the last quarter. Advisors Capital Management LLC increased its stake in shares of NVIDIA by 1.1% in the 4th quarter. Advisors Capital Management LLC now owns 1,594 shares of the computer hardware maker’s stock valued at $832,000 after buying an additional 18 shares during the period. Tradewinds Capital Management LLC increased its stake in shares of NVIDIA by 3.8% in the 1st quarter. Tradewinds Capital Management LLC now owns 487 shares of the computer hardware maker’s stock valued at $260,000 after buying an additional 18 shares during the period. Stableford Capital II LLC increased its stake in shares of NVIDIA by 1.4% in the 1st quarter. Stableford Capital II LLC now owns 1,262 shares of the computer hardware maker’s stock valued at $674,000 after buying an additional 18 shares during the period. Finally, Farr Miller & Washington LLC DC increased its stake in shares of NVIDIA by 1.8% in the 1st quarter. Farr Miller & Washington LLC DC now owns 1,040 shares of the computer hardware maker’s stock valued at $555,000 after buying an additional 18 shares during the period. 64.67% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Company Profile

NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, Graphics and Compute & Networking. 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 design; GRID software for cloud-based visual and virtual computing; and automotive platforms for infotainment systems.

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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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