NVIDIA (NASDAQ:NVDA) Price Target Raised to $140.00 at Piper Sandler

NVIDIA (NASDAQ:NVDA) had its target price upped by Piper Sandler from $120.00 to $140.00 in a report issued on Monday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the computer hardware maker’s stock.

Several other brokerages also recently commented on NVDA. Citigroup lifted their target price on shares of NVIDIA from $126.00 to $150.00 and gave the stock a buy rating in a research note on Wednesday, June 26th. HSBC lifted their target price on shares of NVIDIA from $105.00 to $135.00 and gave the stock a buy rating in a research note on Friday, May 10th. Sanford C. Bernstein lifted their target price on shares of NVIDIA from $100.00 to $130.00 and gave the stock an outperform rating in a research note on Thursday, May 23rd. Bank of America lifted their target price on shares of NVIDIA from $132.00 to $150.00 and gave the stock a buy rating in a research note on Monday, June 3rd. Finally, Truist Financial reaffirmed a buy rating and issued a $140.00 target price (up from $128.80) on shares of NVIDIA in a research note on Thursday, June 27th. Six investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of Moderate Buy and an average target price of $131.59.

NVIDIA Trading Down 1.7 %

NVDA stock opened at $112.28 on Monday. The company has a market capitalization of $2.76 trillion, a PE ratio of 65.66, a price-to-earnings-growth ratio of 1.29 and a beta of 1.68. NVIDIA has a one year low of $39.23 and a one year high of $140.76. The company’s 50 day moving average price is $120.22 and its two-hundred day moving average price is $93.21. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.14 and a current ratio of 3.53.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, topping the consensus estimate of $0.51 by $0.10. The firm had revenue of $26.04 billion for the quarter, compared to the consensus estimate of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The business’s revenue was up 262.1% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. As a group, analysts predict that NVIDIA will post 2.53 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th were given a $0.10 dividend. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, June 11th. This represents a $0.40 dividend on an annualized basis and a yield of 0.36%. NVIDIA’s payout ratio is 2.34%.

Insiders Place Their Bets

In other NVIDIA news, Director Dawn E. Hudson sold 150,000 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $105.92, for a total value of $15,888,000.00. Following the completion of the transaction, the director now owns 555,000 shares of the company’s stock, valued at approximately $58,785,600. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other NVIDIA news, Director Dawn E. Hudson sold 150,000 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $105.92, for a total value of $15,888,000.00. Following the completion of the transaction, the director now owns 555,000 shares of the company’s stock, valued at approximately $58,785,600. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $128.17, for a total transaction of $576,765.00. Following the sale, the insider now directly owns 503,878 shares of the company’s stock, valued at approximately $64,582,043.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,720,723 shares of company stock valued at $567,785,741. 4.23% of the stock is owned by insiders.

Institutional Investors Weigh In On NVIDIA

Hedge funds and other institutional investors have recently made changes to their positions in the business. Aurora Private Wealth Inc. grew its stake in shares of NVIDIA by 20.4% during the 4th quarter. Aurora Private Wealth Inc. now owns 2,196 shares of the computer hardware maker’s stock valued at $1,088,000 after acquiring an additional 372 shares during the period. Park Edge Advisors LLC bought a new position in shares of NVIDIA during the 4th quarter valued at approximately $697,000. Signify Wealth grew its stake in shares of NVIDIA by 195.4% during the 4th quarter. Signify Wealth now owns 2,735 shares of the computer hardware maker’s stock valued at $1,354,000 after acquiring an additional 1,809 shares during the period. Sterling Investment Counsel LLC grew its stake in shares of NVIDIA by 6.4% during the 4th quarter. Sterling Investment Counsel LLC now owns 2,337 shares of the computer hardware maker’s stock valued at $1,157,000 after acquiring an additional 141 shares during the period. Finally, Lantz Financial LLC grew its stake in shares of NVIDIA by 2.7% during the 4th quarter. Lantz Financial LLC now owns 4,716 shares of the computer hardware maker’s stock valued at $2,335,000 after acquiring an additional 123 shares during the period. 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.