NVIDIA (NASDAQ:NVDA) Downgraded to "Hold" Rating by HSBC

NVIDIA (NASDAQ:NVDA - Get Free Report) was downgraded by analysts at HSBC from a "buy" rating to a "hold" rating in a report issued on Thursday, MarketBeat.com reports. They presently have a $120.00 price objective on the computer hardware maker's stock. HSBC's price objective would suggest a potential upside of 17.88% from the company's current price.

A number of other equities research analysts have also recently weighed in on NVDA. DA Davidson dropped their price target on NVIDIA from $135.00 to $125.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. Stifel Nicolaus set a $180.00 price target on NVIDIA in a report on Wednesday, March 19th. DZ Bank raised shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a report on Friday, February 28th. Morgan Stanley set a $162.00 target price on shares of NVIDIA and gave the stock an "overweight" rating in a research note on Wednesday, March 19th. Finally, Tigress Financial reissued a "buy" rating on shares of NVIDIA in a research note on Wednesday, February 26th. Five analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $169.89.

NVIDIA Stock Performance

NVDA traded down $8.62 during trading on Thursday, reaching $101.80. 336,752,568 shares of the company's stock were exchanged, compared to its average volume of 312,764,944. The business has a 50 day moving average price of $122.16 and a 200 day moving average price of $131.11. The company has a market capitalization of $2.48 trillion, a P/E ratio of 40.06, a PEG ratio of 1.76 and a beta of 1.77. NVIDIA has a fifty-two week low of $75.61 and a fifty-two week high of $195.95. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

Remove Ads

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (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 analysts' expectations of $38.16 billion. As a group, analysts predict that NVIDIA will post 2.77 earnings per share for the current fiscal year.

Insider Transactions at NVIDIA

In related news, 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 value of $292,930.00. Following the completion of the sale, the director now directly owns 17,279 shares in the company, 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 SEC, which is available through the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the transaction, the director now owns 251,044 shares in the company, valued at $28,993,071.56. The trade was a 17.52 % 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 worth $22,642,615 in the last 90 days. Corporate insiders own 4.23% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank bought a new stake in shares of NVIDIA during the 4th quarter valued at $43,515,504,000. Clear Street Derivatives LLC bought a new stake in NVIDIA during the third quarter worth about $4,589,905,000. Northern Trust Corp lifted its position in NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Proficio Capital Partners LLC increased its holdings in NVIDIA by 14,641.2% in the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock valued at $4,656,682,000 after buying an additional 34,441,082 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of NVIDIA in the 4th quarter valued at approximately $2,987,733,000. Institutional investors and hedge funds own 65.27% of the company's stock.

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.