Analysts Set NVIDIA Co. (NASDAQ:NVDA) Target Price at $940.30

Shares of NVIDIA Co. (NASDAQ:NVDA) have earned a consensus recommendation of “Moderate Buy” from the forty-two research firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, thirty-eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $940.30.

A number of equities analysts recently weighed in on NVDA shares. HSBC upped their target price on shares of NVIDIA from $880.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Wedbush reaffirmed an “outperform” rating and issued a $1,000.00 price objective on shares of NVIDIA in a research report on Tuesday, March 19th. Benchmark reaffirmed a “buy” rating and issued a $1,000.00 price objective on shares of NVIDIA in a research report on Wednesday, March 20th. Raymond James lifted their price objective on shares of NVIDIA from $850.00 to $1,100.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 11th. Finally, Wolfe Research boosted their target price on shares of NVIDIA from $630.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd.

NVIDIA Trading Up 3.7 %

NASDAQ:NVDA opened at $826.32 on Tuesday. NVIDIA has a one year low of $266.25 and a one year high of $974.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. The company’s 50-day simple moving average is $851.37 and its 200 day simple moving average is $632.39. The firm has a market capitalization of $2.07 trillion, a P/E ratio of 69.21, a PEG ratio of 1.18 and a beta of 1.73.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The firm had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the previous year, the company earned $0.65 earnings per share. The firm’s quarterly revenue was up 265.3% on a year-over-year basis. As a group, analysts forecast that NVIDIA will post 22.55 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s dividend payout ratio is presently 1.34%.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the sale, the director now owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the sale, the director now owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 5,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the completion of the sale, the director now directly owns 1,119,583 shares of the company’s stock, valued at approximately $896,494,891.42. The disclosure for this sale can be found here. Insiders sold 61,278 shares of company stock valued at $52,689,898 over the last 90 days. 3.99% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Verdence Capital Advisors LLC boosted its stake in NVIDIA by 6.5% during the first quarter. Verdence Capital Advisors LLC now owns 6,858 shares of the computer hardware maker’s stock worth $6,197,000 after buying an additional 419 shares during the period. Petredis Investment Advisors LLC lifted its position in shares of NVIDIA by 0.6% during the first quarter. Petredis Investment Advisors LLC now owns 42,920 shares of the computer hardware maker’s stock worth $38,781,000 after purchasing an additional 249 shares in the last quarter. Davies Financial Advisors Inc. acquired a new stake in shares of NVIDIA during the first quarter worth about $2,249,000. Emerald Advisors LLC lifted its position in shares of NVIDIA by 9.5% during the first quarter. Emerald Advisors LLC now owns 1,278 shares of the computer hardware maker’s stock worth $1,154,000 after purchasing an additional 111 shares in the last quarter. Finally, Financial Insights Inc. lifted its position in shares of NVIDIA by 0.9% during the first quarter. Financial Insights Inc. now owns 7,743 shares of the computer hardware maker’s stock worth $6,996,000 after purchasing an additional 71 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.