5 Stocks to Buy Now According to Joshua Pearl’s Hickory Lane Capital Management

4. NVIDIA Corporation (NASDAQ:NVDA)

Hickory Lane Capital Management’s Stake Value: $6,912,000
Percentage of Hickory Lane Capital Management’s 13F Portfolio: 3.67%
Number of Hedge Fund Holders: 110

NVIDIA Corporation (NASDAQ:NVDA) is a technology firm that develops and manufactures visual computing hardware, such as graphics processors for personal computers and device driver software. It was founded in 1993. Ken Fisher of Fisher Asset Management was the lead stakeholder of NVIDIA Corporation (NASDAQ:NVDA). The fund owned 5.12 million shares of stock, which are worth $1.50 billion.

NVIDIA Corporation (NASDAQ:NVDA) is the latest addition to Joshua Pearl’s Hickory Lane Capital Management portfolio, as the hedge fund bought 23,500 shares of the company, worth $6.91 million. By the end of the fourth quarter of 2021, Insider Monkey identified 110 hedge funds that had stakes in NVIDIA Corporation (NASDAQ:NVDA). These holdings were worth a total of $10.49 billion.

On April 20, Deutsche Bank analyst Ross Seymore cut his price objective on NVIDIA Corporation (NASDAQ:NVDA) from $285 to $255 and reiterated a Hold rating on the shares. According to Seymore, as supply loosens and demand decreases, investor worries of a seasonal slowdown/correction are likely to persist.

Here is what RiverPark Funds has to say about NVIDIA Corporation (NASDAQ:NVDA) in its Q1 2022 investor letter:

“Nvidia is the leading designer of graphics processing chips (commonly known as GPU’s- graphics processing units), required for powerful computer processing. Over the past 20 years, the company has evolved through innovation and adaptation from a predominantly gaming- focused chip vendor to one of the largest semiconductor/software vendors in the world, dominating the core secular growth markets of gaming, data centers and professional visualization. Over the past decade, the company has grown revenue at a compound annual rate of over 20% while expanding operating margins and, through its asset light business model, producing ever increasing amounts of free cash flow. For 2021 the company generated 61% revenue growth to $27 billion, expanded its EBITDA margins to over 44% and generated over $8 billion of free cash flow. Over the past five years, the company has generated a cumulative $23 billion of FCF after cumulative capital expenditures of less than $4 billion…” (Click here to see the full text)