5 Best Predictive Analytics Stocks to Buy

3. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 180

Based in Santa Clara, California, NVIDIA Corporation (NASDAQ:NVDA) is an American multinational technology company incorporated in Delaware. Renowned for its proficiency in integrated circuit development, NVIDIA’s expertise spans a diverse range of devices, from electronic game consoles to personal computers (PCs). The graphic processing units (GPUs) offered by the company provide significant processing power, particularly advantageous for executing parallelizable workloads such as machine learning, deep learning, and analytics.

On November 21, NVIDIA Corporation (NASDAQ: NVDA) disclosed its financial results for the third quarter, concluding on October 29, 2023. The company reported a revenue of $18.12 billion, indicating a substantial increase of 206% compared to the same period last year and a notable 34% rise from the previous quarter. GAAP earnings per diluted share for the quarter were $3.71, reflecting a more than 12-fold increase from a year ago and a 50% uptick from the previous quarter. Non-GAAP earnings per diluted share were $4.02, signifying an almost 6-fold rise from a year ago and a 49% increase from the previous quarter.

Insider Monkey’s analysis of hedge fund portfolios for Q3 2023 revealed that 180 hedge funds had a stake in NVIDIA Corporation (NASDAQ: NVDA). Citadel Investment Group emerged as its largest stakeholder, holding approximately 21.85 million shares valued at about $9.5 billion in NVIDIA Corporation (NASDAQ: NVDA).