Craig Hallum Increases NVIDIA (NASDAQ:NVDA) Price Target to $1,250.00

NVIDIA (NASDAQ:NVDAFree Report) had its price target hoisted by Craig Hallum from $850.00 to $1,250.00 in a research report sent to investors on Thursday, Marketbeat reports. The firm currently has a buy rating on the computer hardware maker’s stock.

Several other analysts have also recently weighed in on the company. HSBC lifted their price objective on NVIDIA from $1,050.00 to $1,350.00 and gave the company a buy rating in a research report on Friday, May 10th. Barclays increased their price objective on NVIDIA from $850.00 to $1,100.00 and gave the stock an overweight rating in a report on Monday, May 20th. Citigroup boosted their target price on shares of NVIDIA from $820.00 to $1,030.00 and gave the company a buy rating in a report on Wednesday, March 20th. Robert W. Baird increased their price target on shares of NVIDIA from $1,050.00 to $1,200.00 and gave the stock an outperform rating in a research note on Monday, May 20th. Finally, Raymond James boosted their price objective on shares of NVIDIA from $1,100.00 to $1,200.00 and gave the stock a strong-buy rating in a research note on Thursday. Five research 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 stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $1,123.49.

Check Out Our Latest Report on NVIDIA

NVIDIA Trading Up 2.6 %

NVDA opened at $1,064.69 on Thursday. The firm has a market capitalization of $2.62 trillion, a price-to-earnings ratio of 89.17, a PEG ratio of 1.45 and a beta of 1.75. NVIDIA has a one year low of $366.35 and a one year high of $1,064.75. The business has a 50 day simple moving average of $893.19 and a two-hundred day simple moving average of $704.65. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.67.

Shares of NVIDIA are going to split before the market opens on Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly issued shares will be distributed to shareholders after the market closes on Monday, June 10th.

NVIDIA (NASDAQ:NVDAGet Free Report) last released its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share for the quarter, beating the consensus estimate of $5.14 by $0.98. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The business had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $24.59 billion. During the same quarter in the previous year, the business posted $0.88 earnings per share. The firm’s revenue for the quarter was up 262.1% compared to the same quarter last year. Analysts predict that NVIDIA will post 23.18 EPS for the current year.

NVIDIA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be given a $0.10 dividend. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date is Tuesday, June 11th. This represents a $0.40 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s dividend payout ratio is presently 1.34%.

Insider Activity

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the sale, the insider now owns 49,815 shares in the company, valued at approximately $45,412,350.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the sale, the director now directly owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 450 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the transaction, the insider now directly owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The disclosure for this sale can be found here. Insiders have sold a total of 51,278 shares of company stock valued at $44,714,198 in the last ninety days. Corporate insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NVDA. Brooklyn FI LLC boosted its position in shares of NVIDIA by 2.5% during the first quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock worth $442,000 after acquiring an additional 12 shares during the last quarter. Curran Financial Partners LLC boosted its holdings in shares of NVIDIA by 1.8% during the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after purchasing an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC increased its holdings in shares of NVIDIA by 2.6% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after purchasing an additional 12 shares during the last quarter. M. Kraus & Co lifted its position in shares of NVIDIA by 2.0% in the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock worth $594,000 after buying an additional 13 shares in the last quarter. Finally, Sterling Financial Group Inc. boosted its stake in NVIDIA by 0.9% during the first quarter. Sterling Financial Group Inc. now owns 1,452 shares of the computer hardware maker’s stock valued at $1,312,000 after buying an additional 13 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Company Profile

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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.

Further Reading

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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