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 research note issued to investors on Monday, Benzinga reports. The brokerage currently has an overweight rating on the computer hardware maker’s stock.

A number of other equities research analysts have also issued reports on NVDA. Robert W. Baird increased their price target on NVIDIA from $105.00 to $120.00 and gave the company an outperform rating in a research report on Monday, May 20th. Stifel Nicolaus raised their target price on NVIDIA from $91.00 to $108.50 and gave the stock a buy rating in a research report on Monday, May 20th. Truist Financial reissued a buy rating and set a $140.00 target price (up previously from $128.80) on shares of NVIDIA in a research report on Thursday, June 27th. Wedbush raised their target price on NVIDIA from $100.00 to $120.00 and gave the stock an outperform rating in a research report on Thursday, May 23rd. Finally, KeyCorp raised their target price on NVIDIA from $130.00 to $180.00 and gave the stock an overweight rating in a research report on Tuesday, July 9th. Six research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $131.59.

NVIDIA Price Performance

NVDA stock opened at $112.28 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14. The firm has a market capitalization of $2.76 trillion, a P/E ratio of 65.66, a P/E/G ratio of 1.29 and a beta of 1.68. The business’s 50-day moving average is $120.22 and its two-hundred day moving average is $93.21. NVIDIA has a 1 year low of $39.23 and a 1 year high of $140.76.

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

NVIDIA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, June 11th. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 annualized dividend and a yield of 0.36%. NVIDIA’s payout ratio is currently 2.34%.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $117.24, for a total value of $14,068,800.00. Following the completion of the transaction, the chief executive officer now directly owns 78,054,995 shares of the company’s stock, valued at $9,151,167,613.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $117.24, for a total value of $14,068,800.00. Following the completion of the transaction, the chief executive officer now directly owns 78,054,995 shares of the company’s stock, valued at $9,151,167,613.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total value of $50,334,900.00. Following the completion of the transaction, the director now directly owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The disclosure for this sale can be found here. Insiders sold a total of 3,720,723 shares of company stock valued at $567,785,741 over the last three months. 4.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors have recently made changes to their positions in the stock. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the second quarter valued at $25,000. DHJJ Financial Advisors Ltd. grew its position in shares of NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA in the first quarter valued at $26,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA in the second quarter valued at $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA in the first quarter valued at $27,000. 65.27% of the stock is owned by institutional investors and hedge funds.

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.