NVIDIA Co. (NASDAQ:NVDA – Get Rating) shares gapped down prior to trading on Thursday after Needham & Company LLC lowered their price target on the stock from $400.00 to $240.00. The stock had previously closed at $169.75, but opened at $160.75. NVIDIA shares last traded at $170.89, with a volume of 626,368 shares traded.
A number of other equities research analysts have also commented on the company. Piper Sandler reduced their price target on NVIDIA from $350.00 to $250.00 and set an “overweight” rating on the stock in a research report on Wednesday. Morgan Stanley dropped their price target on shares of NVIDIA from $217.00 to $182.00 and set an “equal weight” rating on the stock in a research report on Thursday. Susquehanna lowered their target price on shares of NVIDIA from $280.00 to $260.00 in a research note on Thursday. UBS Group cut their price target on shares of NVIDIA from $350.00 to $280.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on NVIDIA from $255.00 to $190.00 in a research report on Thursday. Eight analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $280.06.
In other news, Director Mark L. Perry sold 16,716 shares of NVIDIA stock in a transaction on Friday, March 18th. The shares were sold at an average price of $263.80, for a total transaction of $4,409,680.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 292,340 shares of the company’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $237.12, for a total value of $69,319,660.80. The disclosure for this sale can be found here. Insiders sold 409,056 shares of company stock valued at $101,135,342 over the last ninety days. Corporate insiders own 4.47% of the company’s stock.
Several large investors have recently made changes to their positions in NVDA. Disciplined Investments LLC purchased a new stake in NVIDIA in the 4th quarter worth $25,000. Rather & Kittrell Inc. purchased a new stake in shares of NVIDIA in the fourth quarter worth about $26,000. Advanced Research Investment Solutions LLC bought a new position in shares of NVIDIA during the 4th quarter valued at approximately $29,000. Claremont Financial Group Inc. purchased a new position in NVIDIA in the fourth quarter worth about $29,000. Finally, Emerson Wealth LLC purchased a new stake in NVIDIA during the 1st quarter valued at $27,000. Institutional investors own 55.19% of the company’s stock.
The company’s 50 day simple moving average is $215.65 and its 200-day simple moving average is $252.17. The firm has a market cap of $497.44 billion, a P/E ratio of 44.42, a P/E/G ratio of 2.16 and a beta of 1.59. The company has a quick ratio of 6.05, a current ratio of 6.65 and a debt-to-equity ratio of 0.41.
NVIDIA (NASDAQ:NVDA – Get Rating) last issued its earnings results on Wednesday, May 25th. The computer hardware maker reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.07. NVIDIA had a net margin of 36.24% and a return on equity of 42.99%. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same period last year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 46.4% compared to the same quarter last year. Equities research analysts predict that NVIDIA Co. will post 4.71 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Thursday, June 9th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.09%. NVIDIA’s payout ratio is 4.16%.
NVIDIA Company Profile (NASDAQ:NVDA)
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.
