Melius Research Increases NVIDIA (NASDAQ:NVDA) Price Target to $160.00

NVIDIA (NASDAQ:NVDA) had its target price lifted by investment analysts at Melius Research from $125.00 to $160.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the computer hardware maker’s stock. Melius Research’s price objective would suggest a potential upside of 26.41% from the stock’s previous close.

Several other equities research analysts have also weighed in on NVDA. Piper Sandler increased their target price on shares of NVIDIA from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Rosenblatt Securities raised their target price on shares of NVIDIA from $140.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Oppenheimer reiterated an “outperform” rating and issued a $110.00 price objective on shares of NVIDIA in a research note on Thursday, May 23rd. JPMorgan Chase & Co. lifted their price objective on shares of NVIDIA from $85.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Finally, Stifel Nicolaus boosted their target price on shares of NVIDIA from $91.00 to $108.50 and gave the company a “buy” rating in a research report on Monday, May 20th. Five analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $121.77.

NVIDIA Stock Down 3.2 %

Shares of NVDA opened at $126.57 on Friday. The company has a 50-day simple moving average of $102.25 and a 200-day simple moving average of $80.79. The firm has a market capitalization of $3.11 trillion, a P/E ratio of 74.02, a P/E/G ratio of 1.38 and a beta of 1.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.14 and a current ratio of 3.53. NVIDIA has a 52 week low of $39.23 and a 52 week high of $140.76.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. The business had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The firm’s revenue for the quarter was up 262.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. On average, equities research analysts expect that NVIDIA will post 2.52 earnings per share for the current year.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $128.74, for a total transaction of $15,448,800.00. Following the completion of the transaction, the chief executive officer now owns 81,358,830 shares in the company, valued at $10,474,135,774.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Dawn E. Hudson sold 150,000 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $105.92, for a total value of $15,888,000.00. Following the sale, the director now directly owns 555,000 shares of the company’s stock, valued at $58,785,600. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $128.74, for a total transaction of $15,448,800.00. Following the completion of the sale, the chief executive officer now directly owns 81,358,830 shares in the company, valued at $10,474,135,774.20. The disclosure for this sale can be found here. Insiders sold a total of 1,413,370 shares of company stock worth $263,248,609 in the last quarter. 4.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new stake in NVIDIA in the fourth quarter valued at approximately $14,606,369,000. International Assets Investment Management LLC raised its stake in shares of NVIDIA by 54,019.5% during the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after acquiring an additional 16,835,703 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after purchasing an additional 8,828,050 shares during the last quarter. Global Assets Advisory LLC bought a new position in shares of NVIDIA in the first quarter worth approximately $4,826,280,000. Finally, Swedbank AB bought a new position in shares of NVIDIA in the first quarter worth approximately $3,922,733,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

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.