Analysts Set NVIDIA Corporation (NASDAQ:NVDA) PT at $303.84

NVIDIA Corporation (NASDAQ:NVDAGet Free Report) has been given a consensus rating of “Buy” by the fifty-four analysts that are covering the firm, 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 1 year price target among brokers that have issued a report on the stock in the last year is $303.8396.

A number of research firms have recently weighed in on NVDA. Wedbush boosted their target price on NVIDIA from $300.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Bank of America reiterated a “buy” rating and issued a $350.00 price objective (up from $320.00) on shares of NVIDIA in a research report on Thursday, May 21st. China Renaissance assumed coverage on shares of NVIDIA in a report on Friday, June 5th. They issued a “buy” rating and a $319.00 target price on the stock. Wolfe Research reiterated an “outperform” rating and set a $275.00 price target on shares of NVIDIA in a report on Thursday, May 21st. Finally, Stifel Nicolaus set a $282.00 price target on shares of NVIDIA and gave the company a “buy” rating in a research report on Thursday, May 21st.

Check Out Our Latest Research Report on NVDA

Key Stories Impacting NVIDIA

Here are the key news stories impacting NVIDIA this week:

NVIDIA Trading Down 2.0%

Shares of NVDA traded down $3.83 during mid-day trading on Thursday, reaching $191.72. The company’s stock had a trading volume of 30,287,568 shares, compared to its average volume of 168,236,094. NVIDIA has a 52 week low of $158.39 and a 52 week high of $236.54. The stock has a market cap of $4.64 trillion, a PE ratio of 29.36, a P/E/G ratio of 0.43 and a beta of 2.21. The company’s fifty day moving average price is $210.22 and its two-hundred day moving average price is $193.63. The company has a current ratio of 3.44, a quick ratio of 2.85 and a debt-to-equity ratio of 0.04.

NVIDIA (NASDAQ:NVDAGet Free Report) last issued its earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.11. The company had revenue of $81.61 billion for the quarter, compared to analysts’ expectations of $78.42 billion. NVIDIA had a net margin of 62.97% and a return on equity of 96.94%. The firm’s revenue was up 85.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 EPS. On average, analysts predict that NVIDIA will post 8.69 earnings per share for the current fiscal year.

NVIDIA declared that its board has approved a share repurchase plan on Wednesday, May 20th that allows the company to buyback $80.00 billion in shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Increases Dividend

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

Insider Transactions at NVIDIA

In other NVIDIA news, Director John Dabiri sold 625 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $214.00, for a total transaction of $133,750.00. Following the transaction, the director directly owned 14,163 shares of the company’s stock, valued at approximately $3,030,882. The trade was a 4.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark A. Stevens sold 885,000 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $210.17, for a total transaction of $186,000,450.00. Following the completion of the sale, the director directly owned 5,207,271 shares of the company’s stock, valued at approximately $1,094,412,146.07. This represents a 14.53% 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 have sold 1,901,125 shares of company stock worth $410,583,015. 3.94% of the stock is currently owned by insiders.

Institutional Trading of NVIDIA

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Lifetime Wealth Management P.C. bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $26,000. Longview Financial Advisors Inc. bought a new position in NVIDIA in the first quarter worth $27,000. Longfellow Investment Management Co. LLC lifted its position in NVIDIA by 47.9% during the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock valued at $33,000 after buying an additional 67 shares during the period. Phillip James Consulting Co. purchased a new position in NVIDIA during the first quarter valued at $40,000. Finally, Inspire Investing LLC bought a new stake in shares of NVIDIA during the 4th quarter valued at $44,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Company Profile

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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.

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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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