NVIDIA (NASDAQ:NVDA) PT Lowered to $283.00

NVIDIA (NASDAQ:NVDAGet Rating) had its price target lowered by analysts at Truist Financial to $283.00 in a report released on Thursday, Stock Target Advisor reports. Truist Financial’s target price would suggest a potential upside of 59.36% from the stock’s current price.

NVDA has been the subject of a number of other reports. Susquehanna decreased their target price on NVIDIA from $280.00 to $260.00 in a report on Thursday. KeyCorp decreased their target price on NVIDIA from $310.00 to $250.00 and set an “overweight” rating for the company in a report on Thursday. Atlantic Securities decreased their target price on NVIDIA to $205.00 in a report on Thursday. Sanford C. Bernstein decreased their target price on NVIDIA from $325.00 to $225.00 and set an “outperform” rating for the company in a report on Monday. Finally, UBS Group decreased their price target on NVIDIA from $350.00 to $280.00 and set a “buy” rating for the company in a report on Monday. Eight analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA has a consensus rating of “Buy” and an average price target of $271.49.

NVDA stock traded up $7.83 during midday trading on Thursday, hitting $177.58. 2,531,252 shares of the company’s stock were exchanged, compared to its average volume of 55,507,867. NVIDIA has a 1-year low of $154.60 and a 1-year high of $346.47. The business has a 50-day simple moving average of $215.65 and a two-hundred day simple moving average of $252.17. The stock has a market capitalization of $517.25 billion, a PE ratio of 46.38, a P/E/G ratio of 2.16 and a beta of 1.59. The company has a current ratio of 6.65, a quick ratio of 6.05 and a debt-to-equity ratio of 0.41.

NVIDIA (NASDAQ:NVDAGet Rating) last released its quarterly earnings results on Wednesday, May 25th. The computer hardware maker reported $1.36 EPS for the quarter, topping the consensus estimate of $1.29 by $0.07. NVIDIA had a return on equity of 42.99% and a net margin of 36.24%. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.09 billion. During the same period last year, the business posted $0.78 earnings per share. The company’s quarterly revenue was up 46.4% on a year-over-year basis. As a group, research analysts expect that NVIDIA will post 4.71 EPS for the current fiscal year.

In other NVIDIA news, CEO Jen Hsun Huang sold 292,340 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $237.12, for a total value of $69,319,660.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, March 28th. The shares were sold at an average price of $274.06, for a total transaction of $27,406,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 409,056 shares of company stock worth $101,135,342. 4.47% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Martin Currie Ltd. boosted its holdings in NVIDIA by 2.2% during the first quarter. Martin Currie Ltd. now owns 772,230 shares of the computer hardware maker’s stock worth $210,710,000 after buying an additional 16,494 shares in the last quarter. Ninety One UK Ltd boosted its holdings in NVIDIA by 66.6% during the first quarter. Ninety One UK Ltd now owns 2,173,870 shares of the computer hardware maker’s stock worth $593,162,000 after buying an additional 869,093 shares in the last quarter. Genesee Capital Advisors LLC boosted its holdings in NVIDIA by 138.6% during the first quarter. Genesee Capital Advisors LLC now owns 2,066 shares of the computer hardware maker’s stock worth $564,000 after buying an additional 1,200 shares in the last quarter. Midwest Wealth Management Inc. boosted its holdings in NVIDIA by 1.4% during the first quarter. Midwest Wealth Management Inc. now owns 13,883 shares of the computer hardware maker’s stock worth $3,788,000 after buying an additional 187 shares in the last quarter. Finally, Bickling Financial Services Inc. boosted its holdings in NVIDIA by 6.5% during the first quarter. Bickling Financial Services Inc. now owns 9,521 shares of the computer hardware maker’s stock worth $2,598,000 after buying an additional 581 shares in the last quarter. Hedge funds and other institutional investors own 55.19% of the company’s stock.

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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