HSBC Downgrades NVIDIA (NASDAQ:NVDA) to Hold

NVIDIA (NASDAQ:NVDA) was downgraded by equities researchers 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 target indicates a potential upside of 27.24% from the company’s current price.

Several other research firms have also commented on NVDA. Bank of America reaffirmed a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Susquehanna reaffirmed a “positive” rating and set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Stifel Nicolaus set a $180.00 price target on NVIDIA in a report on Wednesday, March 19th. KeyCorp set a $190.00 price objective on NVIDIA in a research note on Wednesday, March 19th. Finally, DA Davidson cut their target price on NVIDIA from $135.00 to $125.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $169.89.

NVIDIA Trading Down 7.4 %

Shares of NASDAQ NVDA opened at $94.31 on Thursday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $121.20 and its two-hundred day moving average price is $130.96. NVIDIA has a 52-week low of $75.61 and a 52-week high of $195.95. The stock has a market capitalization of $2.30 trillion, a P/E ratio of 37.12, a PEG ratio of 1.76 and a beta of 1.96.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. On average, analysts anticipate that NVIDIA will post 2.77 earnings per share for the current fiscal year.

Insider Activity at NVIDIA

In other NVIDIA news, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the transaction, the director now owns 251,044 shares of the company’s stock, valued at $28,993,071.56. The trade was a 17.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the sale, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 183,609 shares of company stock worth $22,642,615 in the last quarter. 4.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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