HSBC Downgrades NVIDIA (NASDAQ:NVDA) to Hold

NVIDIA (NASDAQ:NVDA) was downgraded by HSBC from a “buy” rating to a “hold” rating in a report released on Thursday, MarketBeat reports. They currently have a $120.00 price objective on the computer hardware maker’s stock. HSBC’s target price suggests a potential upside of 27.24% from the company’s current price.

NVDA has been the subject of several other reports. William Blair reaffirmed an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Susquehanna reissued a “positive” rating and set a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Finally, DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $169.89.

NVIDIA Stock Performance

Shares of NVDA opened at $94.31 on Thursday. The company’s 50 day simple moving average is $121.20 and its 200-day simple moving average is $130.96. The firm has a market cap of $2.30 trillion, a PE ratio of 37.12, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. NVIDIA has a 12-month low of $75.61 and a 12-month high of $195.95. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. As a group, equities analysts predict that NVIDIA will post 2.77 EPS for the current year.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the sale, the insider now owns 479,428 shares of the company’s stock, valued at $55,997,190.40. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction 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. Insiders have sold 183,609 shares of company stock valued at $22,642,615 over the last three months. 4.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kings Path Partners LLC lifted its stake in shares of NVIDIA by 1,000.0% in the first quarter. Kings Path Partners LLC now owns 11,000 shares of the computer hardware maker’s stock worth $1,192,000 after acquiring an additional 10,000 shares in the last quarter. Farmers Trust Co. grew its stake in NVIDIA by 1.9% during the 1st quarter. Farmers Trust Co. now owns 6,541 shares of the computer hardware maker’s stock valued at $709,000 after purchasing an additional 125 shares in the last quarter. Moody National Bank Trust Division increased its holdings in NVIDIA by 0.6% during the 1st quarter. Moody National Bank Trust Division now owns 302,517 shares of the computer hardware maker’s stock worth $32,787,000 after purchasing an additional 1,946 shares during the last quarter. Baring Financial LLC raised its position in shares of NVIDIA by 24.7% in the 1st quarter. Baring Financial LLC now owns 13,107 shares of the computer hardware maker’s stock valued at $1,421,000 after purchasing an additional 2,592 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of NVIDIA by 116.0% during the 1st quarter. Versant Capital Management Inc now owns 60,279 shares of the computer hardware maker’s stock valued at $6,533,000 after buying an additional 32,374 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

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.