5 Semiconductor Stocks With Growth Potential

3. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 83

NVIDIA Corporation (NASDAQ:NVDA) is the world’s leading graphics processing unit (GPU) designer and seller. The company’s products are used to run the latest video games, power-gaming consoles, crunch numbers for data centers, and more.

Citi kept a $500 price target for the company’s shares in November 2021. 83 of the 867 hedge funds part of Insider Monkey’s Q3 2021 survey had owned NVIDIA Corporation (NASDAQ:NVDA)’s shares.

Vulcan Value Partners, mentioned NVIDIA Corporation (NASDAQ:NVDA) in its Q1 2021 investor letter. Here is what the fund said:

“NVIDIA Corp. is the dominant supplier of Graphics Processing Units (GPUs) worldwide. NVIDIA’s GPUs are at the intersection of a number of important computing trends including the movement to the Cloud, artificial intelligence, autonomous vehicles, edge computing, gaming, and more. We previously owned NVIDIA and sold it in the third quarter of 2020 as the price to value gap closed and our margin of safety was reduced. As with all our MVP companies, we continued to follow NVIDIA closely. Since that time, NVIDIA reported excellent results and its value has compounded rapidly. The technology selloff at the beginning of the year negatively affected the stock price while our estimate of NVIDIA’s value per share increased. This happy combination of events created a margin of safety and an opportunity to once again add NVIDIA to the portfolio.”