NVIDIA (NASDAQ:NVDA) Price Target Raised to $1,200.00 at Piper Sandler

NVIDIA (NASDAQ:NVDAFree Report) had its price target upped by Piper Sandler from $1,050.00 to $1,200.00 in a research note published on Thursday, Marketbeat.com reports. They currently have an overweight rating on the computer hardware maker’s stock.

A number of other research analysts have also commented on NVDA. Rosenblatt Securities reiterated a buy rating and issued a $1,400.00 price target on shares of NVIDIA in a research note on Monday, May 20th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of NVIDIA from $720.00 to $850.00 and gave the company a hold rating in a report on Wednesday, March 20th. Cantor Fitzgerald reissued an overweight rating and issued a $900.00 price objective on shares of NVIDIA in a report on Monday, March 4th. KeyCorp boosted their price objective on shares of NVIDIA from $1,200.00 to $1,300.00 and gave the company an overweight rating in a report on Thursday. Finally, Stifel Nicolaus boosted their price objective on shares of NVIDIA from $910.00 to $1,085.00 and gave the company a buy rating in a report on Monday, May 20th. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $1,123.49.

Check Out Our Latest Report on NVIDIA

NVIDIA Stock Up 2.6 %

Shares of NVDA opened at $1,064.69 on Thursday. NVIDIA has a 52 week low of $366.35 and a 52 week high of $1,064.75. The firm has a market cap of $2.62 trillion, a P/E ratio of 62.26, a price-to-earnings-growth ratio of 1.48 and a beta of 1.75. The firm’s 50-day simple moving average is $893.19 and its 200 day simple moving average is $706.34. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.67 and a current ratio of 3.53.

NVIDIA shares are scheduled to split on the morning of Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly issued shares will be payable to shareholders after the market closes on Monday, June 10th.

NVIDIA (NASDAQ:NVDAGet Free Report) last announced its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 EPS for the quarter, beating analysts’ consensus estimates of $5.14 by $0.98. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The business had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. During the same quarter in the prior year, the business earned $0.88 EPS. NVIDIA’s quarterly revenue was up 262.1% on a year-over-year basis. On average, analysts forecast that NVIDIA will post 23.6 earnings per share for the current year.

NVIDIA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be given a $0.10 dividend. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 annualized dividend and a yield of 0.04%. The ex-dividend date is Tuesday, June 11th. NVIDIA’s dividend payout ratio is 0.94%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $853.54, for a total value of $10,242,480.00. Following the completion of the transaction, the director now directly owns 1,107,583 shares in the company, valued at approximately $945,366,393.82. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Donald F. Robertson, Jr. sold 450 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the sale, the insider now directly owns 49,815 shares in the company, valued at $45,412,350.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark A. Stevens sold 12,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $853.54, for a total transaction of $10,242,480.00. Following the sale, the director now owns 1,107,583 shares of the company’s stock, valued at $945,366,393.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,278 shares of company stock worth $40,710,498. 4.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Several institutional investors have recently made changes to their positions in the stock. FPC Investment Advisory Inc. acquired a new position in NVIDIA during the 1st quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA during the first quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA bought a new position in shares of NVIDIA in the 4th quarter worth $28,000. Criterion Capital Advisors LLC bought a new position in shares of NVIDIA in the 4th quarter worth $28,000. Finally, Your Advocates Ltd. LLP acquired a new stake in NVIDIA in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

About NVIDIA

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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.

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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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