NVIDIA (NASDAQ:NVDA) Given New $170.00 Price Target at Tigress Financial

NVIDIA (NASDAQ:NVDA) had its price target upped by Tigress Financial from $98.50 to $170.00 in a report released on Tuesday, Benzinga reports. They currently have a buy rating on the computer hardware maker’s stock.

Several other research analysts have also recently weighed in on NVDA. UBS Group boosted their target price on NVIDIA from $115.00 to $120.00 and gave the stock a buy rating in a report on Thursday, May 23rd. Oppenheimer restated an outperform rating and set a $110.00 target price on shares of NVIDIA in a report on Thursday, May 23rd. TD Cowen boosted their target price on NVIDIA from $120.00 to $140.00 and gave the stock a buy rating in a report on Monday, June 10th. Evercore ISI upped their price objective on NVIDIA from $131.00 to $145.00 and gave the company an outperform rating in a report on Tuesday, June 11th. Finally, Piper Sandler upped their price objective on NVIDIA from $105.00 to $120.00 and gave the company an overweight rating in a report on Thursday, May 23rd. 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $120.84.

NVIDIA Price Performance

NASDAQ:NVDA opened at $135.58 on Tuesday. NVIDIA has a 12 month low of $39.23 and a 12 month high of $136.33. The stock has a 50 day moving average of $99.71 and a two-hundred day moving average of $79.24. The company has a current ratio of 3.53, a quick ratio of 3.14 and a debt-to-equity ratio of 0.17. The firm has a market cap of $3.34 trillion, a P/E ratio of 79.29, a price-to-earnings-growth ratio of 1.39 and a beta of 1.69.

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

NVIDIA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.30%. The ex-dividend date is Tuesday, June 11th. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio is 2.34%.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 100,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $1,194.57, for a total value of $119,457,000.00. Following the transaction, the director now owns 2,967,136 shares of the company’s stock, valued at $3,544,451,651.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Mark A. Stevens sold 227,000 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $88.00, for a total value of $19,975,319.00. Following the transaction, the director now owns 10,521,330 shares of the company’s stock, valued at $925,845,476.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tench Coxe sold 100,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the completion of the transaction, the director now owns 2,967,136 shares of the company’s stock, valued at approximately $3,544,451,651.52. The disclosure for this sale can be found here. Insiders have sold 1,417,870 shares of company stock valued at $263,658,838 over the last quarter. 4.23% of the stock is owned by insiders.

Hedge Funds Weigh In On NVIDIA

Large investors have recently bought and sold shares of the stock. FPC Investment Advisory Inc. acquired a new position in NVIDIA in the first quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA in the first quarter valued at $27,000. LFA Lugano Financial Advisors SA acquired a new position in NVIDIA in the fourth quarter valued at $28,000. Criterion Capital Advisors LLC acquired a new position in NVIDIA in the fourth quarter valued at $28,000. Finally, HBC Financial Services PLLC acquired a new stake in shares of NVIDIA during the first quarter worth about $30,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Company Profile

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.