Hsbc Global Res Downgrades NVIDIA (NASDAQ:NVDA) to Hold

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

Other research analysts have also issued research reports about the company. Wedbush reiterated an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Thursday, February 20th. Needham & Company LLC reissued a “buy” rating and set a $160.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. KeyCorp set a $190.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, Morgan Stanley set a $162.00 target price on shares of NVIDIA and gave the stock an “overweight” rating in a report on Wednesday, March 19th. Six research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $169.89.

NVIDIA Stock Performance

NASDAQ NVDA opened at $94.31 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA has a 1-year low of $75.61 and a 1-year high of $195.95. The business has a 50 day simple moving average of $121.20 and a two-hundred day simple moving average of $130.96. The stock has a market capitalization of $2.30 trillion, a PE ratio of 37.12, a P/E/G ratio of 1.76 and a beta of 1.96.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share 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 analysts’ expectations of $38.16 billion. On average, research analysts predict that NVIDIA will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 183,609 shares of company stock worth $22,642,615. 4.23% of the stock is owned by corporate insiders.

Institutional Trading of NVIDIA

Large investors have recently made changes to their positions in the business. Tacita Capital Inc purchased a new position in shares of NVIDIA during the 4th quarter valued at about $28,000. Legend Financial Advisors Inc. acquired a new stake in NVIDIA during the fourth quarter worth about $34,000. Vision Financial Markets LLC purchased a new position in NVIDIA during the fourth quarter valued at approximately $38,000. Luken Investment Analytics LLC acquired a new position in NVIDIA in the fourth quarter valued at approximately $40,000. Finally, Lowe Wealth Advisors LLC purchased a new stake in NVIDIA in the 4th quarter worth approximately $46,000. 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.