Renaissance Technologies LLC boosted its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 190.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,526,948 shares of the computer hardware maker’s stock after purchasing an additional 1,655,528 shares during the quarter. NVIDIA makes up approximately 0.7% of Renaissance Technologies LLC’s holdings, making the stock its 10th largest holding. Renaissance Technologies LLC’s holdings in NVIDIA were worth $440,696,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Lifetime Wealth Management P.C. acquired a new position in NVIDIA during the 4th quarter worth $26,000. Longview Financial Advisors Inc. bought a new position in shares of NVIDIA during the first quarter worth about $27,000. Longfellow Investment Management Co. LLC grew its stake in NVIDIA by 47.9% in the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock worth $33,000 after purchasing an additional 67 shares in the last quarter. Phillip James Consulting Co. acquired a new position in NVIDIA in the first quarter worth about $40,000. Finally, Inspire Investing LLC bought a new stake in NVIDIA in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 65.27% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the company. Benchmark restated a “buy” rating and set a $335.00 price objective (up from $250.00) on shares of NVIDIA in a research note on Thursday, May 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $350.00 target price on shares of NVIDIA in a research note on Thursday, May 21st. China Renaissance started coverage on shares of NVIDIA in a research report on Friday, June 5th. They issued a “buy” rating and a $319.00 price target on the stock. Daiwa Securities Group lifted their price target on shares of NVIDIA from $215.00 to $255.00 and gave the company an “outperform” rating in a report on Friday, May 22nd. Finally, Seaport Research Partners boosted their price objective on shares of NVIDIA from $140.00 to $180.00 and gave the company a “sell” rating in a research report on Thursday, May 21st. Three analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $304.26.
Insiders Place Their Bets
In other news, Director John Dabiri sold 625 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $214.00, for a total transaction of $133,750.00. Following the completion of the transaction, the director owned 14,163 shares in the company, valued at approximately $3,030,882. This trade represents a 4.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen C. Neal sold 15,500 shares of NVIDIA stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $215.73, for a total transaction of $3,343,815.00. Following the completion of the transaction, the director directly owned 116,135 shares in the company, valued at $25,053,803.55. This represents a 11.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,901,125 shares of company stock worth $410,583,015. 3.94% of the stock is owned by corporate insiders.
NVIDIA News Roundup
Here are the key news stories impacting NVIDIA this week:
- Positive Sentiment: SpaceX CEO Elon Musk said the company will build its AI infrastructure exclusively with NVIDIA chips, including the Vera Rubin platform. Musk also discussed ambitious plans for space-based AI computing, prompting investors to anticipate a potentially significant new source of long-term demand. Nvidia Stock Is on the Rise After Elon Musk Says SpaceX Will Exclusively Buy Its Chips
- Positive Sentiment: Analysts and market commentators are raising their long-term forecasts, with one scenario suggesting NVIDIA could approach $1 trillion in annual revenue if SpaceX delivers even part of Musk’s planned computing buildout. These projections reinforce the bullish view that NVIDIA’s opportunity extends beyond traditional data-center GPUs. Analyst Forecasts NVIDIA Revenue Potential From SpaceX Compute Plans
- Positive Sentiment: Investor sentiment was also supported by reports that NVIDIA’s B200 systems remain sold out and that AI chip demand continues to substantially exceed available supply. A separate report highlighted a multiyear Blackwell infrastructure agreement with Corvex, adding to evidence of continuing deployment demand. NVIDIA B200 Systems Are Sold Out
- Positive Sentiment: Before its upcoming earnings release, bullish estimates call for approximately $91.85 billion in quarterly revenue and $2.08 in earnings per share, reflecting nearly 100% year-over-year growth. Recent coverage also points to networking, software, enterprise AI and sovereign AI as increasingly important growth drivers. NVIDIA Stock Ahead of Q2 Earnings
- Neutral Sentiment: Institutional activity included additions of 698,901 shares by DekaBank and 595,887 shares by Allen Investment Management, while analyst price targets remain well above recent trading levels. However, these 13F disclosures reflect holdings as of June 30 and may not represent current positioning.
- Negative Sentiment: Risks remain, including Michael Burry’s bearish NVIDIA position, concerns over potentially expensive circular investments in AI companies, U.S. restrictions affecting China-related supply chains, and competition from AMD, custom accelerators and AI companies developing their own chips. Michael Burry Maintains Bearish NVIDIA View
NVIDIA Price Performance
NASDAQ NVDA opened at $219.22 on Thursday. NVIDIA Corporation has a 12 month low of $164.07 and a 12 month high of $236.54. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.44 and a quick ratio of 2.85. The firm has a market capitalization of $5.31 trillion, a PE ratio of 33.57, a P/E/G ratio of 0.41 and a beta of 2.23. The company’s 50 day simple moving average is $205.31 and its 200 day simple moving average is $196.77.
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 EPS for the quarter, topping the consensus estimate of $1.76 by $0.11. The firm had revenue of $81.61 billion for the quarter, compared to analysts’ expectations of $78.42 billion. NVIDIA had a return on equity of 96.94% and a net margin of 62.97%.The firm’s quarterly revenue was up 85.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 earnings per share. As a group, equities research analysts forecast that NVIDIA Corporation will post 8.79 EPS for the current fiscal year.
NVIDIA Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Thursday, June 4th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, June 4th. This is an increase from NVIDIA’s previous quarterly dividend of $0.01. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. NVIDIA’s dividend payout ratio is presently 15.31%.
NVIDIA declared that its board has initiated a stock buyback plan on Wednesday, May 20th that authorizes the company to repurchase $80.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
NVIDIA Profile
NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.
The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.
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