NVIDIA (NASDAQ:NVDA) Price Target Cut to $280.00

NVIDIA (NASDAQ:NVDAGet Rating) had its target price reduced by investment analysts at UBS Group from $350.00 to $280.00 in a research note issued to investors on Monday, The Fly reports. The brokerage currently has a “buy” rating on the computer hardware maker’s stock. UBS Group’s price objective would indicate a potential upside of 73.33% from the company’s previous close.

A number of other equities analysts have also recently commented on the stock. Wells Fargo & Company cut their target price on shares of NVIDIA from $370.00 to $250.00 and set an “overweight” rating on the stock in a report on Friday, May 20th. The Goldman Sachs Group began coverage on shares of NVIDIA in a research report on Monday, March 7th. They issued a “neutral” rating and a $245.00 price objective on the stock. Wedbush decreased their price objective on shares of NVIDIA from $300.00 to $190.00 and set a “neutral” rating on the stock in a research report on Thursday, May 19th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of NVIDIA from $285.00 to $255.00 and set a “hold” rating on the stock in a research report on Wednesday, April 20th. Finally, Zacks Investment Research lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $229.00 price objective on the stock. in a research report on Tuesday, April 19th. Eight equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $306.79.

Shares of NVIDIA stock opened at $161.54 on Monday. NVIDIA has a 52-week low of $154.60 and a 52-week high of $346.47. The company has a 50 day moving average of $217.20 and a 200 day moving average of $252.75. The company has a quick ratio of 6.05, a current ratio of 6.65 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $470.53 billion, a P/E ratio of 41.99, a P/E/G ratio of 2.16 and a beta of 1.59.

In other news, Director Mark L. Perry sold 16,716 shares of the firm’s stock in a transaction on Friday, March 18th. The stock was sold at an average price of $263.80, for a total transaction of $4,409,680.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $274.06, for a total value of $27,406,000.00. The disclosure for this sale can be found here. Insiders sold 409,056 shares of company stock worth $101,135,342 over the last quarter. 4.47% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Disciplined Investments LLC acquired a new position in NVIDIA during the fourth quarter worth about $25,000. Rather & Kittrell Inc. acquired a new position in NVIDIA during the fourth quarter worth about $26,000. Emerson Wealth LLC purchased a new position in NVIDIA in the 1st quarter worth about $27,000. Roble Belko & Company Inc increased its stake in NVIDIA by 550.0% in the 1st quarter. Roble Belko & Company Inc now owns 104 shares of the computer hardware maker’s stock worth $28,000 after purchasing an additional 88 shares in the last quarter. Finally, Clear Perspectives Financial Planning LLC purchased a new position in NVIDIA in the 1st quarter worth about $28,000. 55.19% of the stock is currently owned by institutional investors.

About NVIDIA (Get Rating)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

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