NVIDIA (NASDAQ:NVDA) Downgraded by HSBC to “Hold”

NVIDIA (NASDAQ:NVDA) was downgraded by investment analysts at HSBC from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. They currently have a $120.00 price objective on the computer hardware maker’s stock. HSBC’s price objective indicates a potential upside of 8.68% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Truist Financial boosted their price objective on shares of NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Bank of America reissued a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Mizuho reduced their target price on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a report on Friday, March 14th. Finally, DA Davidson lowered their price objective on NVIDIA from $135.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $169.89.

NVIDIA Stock Performance

Shares of NVDA opened at $110.42 on Thursday. NVIDIA has a one year low of $75.61 and a one year high of $195.95. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a market cap of $2.69 trillion, a PE ratio of 43.46, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The firm has a 50-day moving average of $123.07 and a 200-day moving average of $131.32.

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

Insiders Place Their Bets

In related news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 183,609 shares of company stock valued at $22,642,615 in the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

A number of large investors have recently made changes to their positions in NVDA. Tacita Capital Inc purchased a new stake in shares of NVIDIA in the fourth quarter worth $28,000. Legend Financial Advisors Inc. purchased a new position in shares of NVIDIA in the fourth quarter worth about $34,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA during the fourth quarter valued at approximately $38,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA during the 4th quarter valued at $40,000. Finally, Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA in the fourth quarter worth about $46,000. 65.27% of the stock is owned by 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.