Susquehanna cuts NVIDIA (NASDAQ:NVDA) target price to $220.00

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NVIDIA (NASDAQ:NVDA – Get a rating) saw its target price lowered by Susquehanna equity researchers from $260.00 to $220.00 in a note issued to investors on Wednesday, reports The Fly. The brokerage currently has a “positive” rating on the hardware maker’s stock. Susquehanna’s target price suggests a potential upside of 43.12% from the company’s previous close.

Other analysts have also published research reports on the company. KeyCorp lowered its target price on NVIDIA from $250.00 to $230.00 and set an “overweight” rating on the stock in a Tuesday report. Wells Fargo & Company lowered its price target on NVIDIA from $370.00 to $250.00 and set an “overweight” rating on the stock in a Friday, May 20 research note. Needham & Company LLC reduced its target price on NVIDIA to $185.00 in a Tuesday, July 5 research report. Piper Sandler lowered its price target on NVIDIA from $250.00 to $235.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Barclays cut its price target on NVIDIA from $350.00 to $295.00 and set an “overweight” rating on the stock in a Monday, April 25 research report. Seven equity research analysts gave the stock a hold rating, twenty-six issued a buy rating and one gave the stock a high buy rating. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $257.15.

NVIDIA shares opened at $153.72 on Wednesday. The company has a quick ratio of 4.75, a current ratio of 5.32 and a leverage ratio of 0.42. NVIDIA has a 12-month low of $140.55 and a 12-month high of $346.47. The company has a fifty-day simple moving average of $167.78 and a 200-day simple moving average of $217.29. The stock has a market capitalization of $384.30 billion, a PE ratio of 41.21, a growth price-earnings ratio of 2.41 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA – Get Rating) last reported quarterly earnings data on Wednesday, May 25. The hardware maker reported EPS of $1.36 for the quarter, beating analyst consensus estimates of $1.29 by $0.07. NVIDIA had a return on equity of 43.81% and a net margin of 32.02%. The company posted revenue of $8.29 billion in the quarter, versus $8.09 billion expected by analysts. In the same period a year earlier, the company earned earnings per share of $0.78. The company’s quarterly revenue increased by 46.4% compared to the same quarter last year. Analysts expect NVIDIA to post EPS of 4.53 for the current fiscal year.

Separately, director John Dabiri sold 2,200 NVIDIA shares in a trade on Friday, May 27. The shares were sold at an average price of $185.59, for a total value of $408,298.00. As a result of the transaction, the administrator now directly owns 2,712 shares of the company, valued at approximately $503,320.08. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, director Mark A. Stevens sold 113,850 NVIDIA shares in a trade on Monday, June 13. The shares were sold at an average price of $158.03, for a total transaction of $17,991,715.50. Following completion of the transaction, the administrator now owns 2,596,493 shares of the company, valued at $410,323,788.79. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 139,694 shares of the company valued at $22,850,524. 4.04% of the shares are currently held by insiders.

Institutional investors have recently increased or reduced their stake in the stock. Venture Visionary Partners LLC increased its stake in NVIDIA by 0.3% during the fourth quarter. Venture Visionary Partners LLC now owns 15,776 shares of the hardware maker worth $4,639,000 after acquiring 43 additional shares in the last quarter. Tranquility Partners LLC increased its position in NVIDIA by 1.0% during the fourth quarter. Tranquility Partners LLC now owns 4,384 shares of the hardware maker worth $1,290,000 after buying 44 more shares last quarter. Mcdaniel Terry & Co. increased its position in NVIDIA by 2.1% during the fourth quarter. Mcdaniel Terry & Co. now owns 2,202 shares of the hardware maker worth $648,000 after buying 45 more shares last quarter. Accurate Wealth Management LLC increased its holdings of NVIDIA stock by 1.3% in Q4. Accurate Wealth Management LLC now owns 3,405 shares of the hardware maker valued at $959,000 after buying 45 more shares last quarter. Finally, Berkeley Capital Partners LLC increased its stake in NVIDIA shares by 2.3% in the 4th quarter. Berkeley Capital Partners LLC now owns 2,024 shares of the hardware maker valued at $595,000 after buying 45 more shares last quarter. Institutional investors and hedge funds hold 55.19% of the company’s shares.

About NVIDIA (Get an assessment)

NVIDIA Corporation provides graphics, computing, and networking solutions in the United States, Taiwan, China, and around the world. 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 GPU for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for creating 3D designs and virtual worlds.

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