HSBC Downgrades NVIDIA (NASDAQ:NVDA) to Hold

NVIDIA (NASDAQ:NVDA) was downgraded by research 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 target price on the computer hardware maker’s stock. HSBC’s price objective points to a potential upside of 8.68% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. Morgan Stanley set a $162.00 target price on NVIDIA and gave the company an “overweight” rating in a report on Wednesday, March 19th. Stifel Nicolaus set a $180.00 target price on NVIDIA in a research report on Wednesday, March 19th. Bank of America restated a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Benchmark reaffirmed a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. Five equities research 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 presently has a consensus rating of “Moderate Buy” and an average target price of $169.89.

NVIDIA Trading Up 0.2 %

NASDAQ NVDA opened at $110.42 on Thursday. NVIDIA has a 12 month low of $75.61 and a 12 month high of $195.95. The stock’s fifty day moving average price is $123.07 and its 200-day moving average price is $131.32. The stock has a market cap of $2.69 trillion, a P/E ratio of 43.46, a P/E/G ratio of 1.76 and a beta of 1.77. 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 posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping 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 business had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. As a group, equities analysts forecast that NVIDIA will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now directly owns 17,279 shares of the company’s stock, valued at $1,900,690. The trade was a 13.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Aarti S. Shah sold 20,000 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the sale, the director now directly owns 53,208 shares in the company, valued at approximately $6,300,891.36. The trade was a 27.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 183,609 shares of company stock valued at $22,642,615 over the last 90 days. Insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Institutional investors and hedge funds have recently modified their holdings of the stock. Tacita Capital Inc acquired a new stake in NVIDIA during the 4th quarter worth $28,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA during the 4th quarter valued at approximately $34,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA in the 4th quarter valued at $38,000. Luken Investment Analytics LLC purchased a new position in NVIDIA during the fourth quarter worth about $40,000. Finally, Lowe Wealth Advisors LLC purchased a new stake in NVIDIA in the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors 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.