NVIDIA (NASDAQ:NVDA) Rating Lowered to “Hold” at Hsbc Global Res

NVIDIA (NASDAQ:NVDA) was downgraded by stock analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

A number of other research analysts also recently issued reports on NVDA. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Benchmark reissued a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Summit Insights lowered NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Wedbush reaffirmed an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a report on Thursday, February 20th. Finally, HSBC downgraded shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $169.89.

NVIDIA Stock Down 7.4 %

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

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results 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. The business had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. On average, research analysts expect that NVIDIA will post 2.77 earnings per share for the current fiscal year.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at $360,509,924.95. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the sale, the director now owns 53,208 shares of the company’s stock, valued at $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 in the last quarter. 4.23% of the stock is owned by insiders.

Institutional Trading of NVIDIA

Several large investors have recently modified their holdings of NVDA. Capital Performance Advisors LLP boosted its stake in shares of NVIDIA by 59.3% during the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock worth $3,586,000 after acquiring an additional 9,944 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 in the last quarter. SMART Wealth LLC grew its holdings in NVIDIA by 289.5% during the fourth quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker’s stock valued at $9,711,000 after purchasing an additional 53,747 shares during the period. Blue Square Asset Management LLC increased its position in NVIDIA by 26.7% in the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after buying an additional 10,136 shares in the last quarter. Finally, Wealthspire Advisors LLC raised its stake in shares of NVIDIA by 29.6% in the fourth quarter. Wealthspire Advisors LLC now owns 174,896 shares of the computer hardware maker’s stock worth $23,487,000 after buying an additional 39,944 shares during the period. 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.