Citigroup Lowers NVIDIA (NASDAQ:NVDA) Price Target to $150.00

NVIDIA (NASDAQ:NVDA) had its target price dropped by Citigroup from $163.00 to $150.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the computer hardware maker’s stock. Citigroup’s target price would indicate a potential upside of 35.22% from the stock’s current price.

Several other research analysts have also recently weighed in on the company. Susquehanna restated a “positive” rating and issued a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Morgan Stanley set a $162.00 price target on shares of NVIDIA and gave the stock an “overweight” rating in a research note on Wednesday, March 19th. HSBC lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a report on Thursday, April 3rd. TD Cowen decreased their price target on NVIDIA from $175.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $160.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Six investment analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average target price of $168.39.

NVIDIA Stock Up 3.1 %

Shares of NASDAQ:NVDA traded up $3.36 during trading on Friday, hitting $110.93. The stock had a trading volume of 310,435,702 shares, compared to its average volume of 315,210,229. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $2.71 trillion, a PE ratio of 43.66, a PEG ratio of 1.76 and a beta of 1.96. The firm’s fifty day moving average is $119.10 and its 200 day moving average is $130.45. NVIDIA has a 12 month low of $75.61 and a 12 month high of $195.95.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. Analysts anticipate that NVIDIA will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Robert K. Burgess sold 53,324 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the sale, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,147 shares of company stock valued at $17,133,207. 4.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NVIDIA

Several institutional investors and hedge funds have recently made changes to their positions in NVDA. DiNuzzo Private Wealth Inc. lifted its stake in NVIDIA by 0.8% during the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after acquiring an additional 71 shares during the period. Smart Portfolios LLC raised its holdings in shares of NVIDIA by 2.7% during the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after purchasing an additional 75 shares during the last quarter. Palisade Asset Management LLC lifted its position in NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after purchasing an additional 75 shares during the period. Baker Boyer National Bank boosted its stake in shares of NVIDIA by 3.3% in the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock worth $323,000 after buying an additional 76 shares during the last quarter. Finally, Kwmg LLC grew its holdings in NVIDIA by 0.6% during the fourth quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker’s stock worth $1,755,000 after acquiring an additional 77 shares during the period. 65.27% of the stock is currently 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.