5 Undervalued Chip Stocks To Buy Today

4. NVIDIA Corporation (NASDAQ:NVDA)

Number of Recent Mentions: 5

Number of Hedge Fund Holders: 89

Established in 1993, NVIDIA Corporation (NASDAQ:NVDA) is a global technology company that designs and manufactures graphics processing units (GPUs) and related software products. NVIDIA Corporation (NASDAQ:NVDA) is a leading provider of GPUs for the gaming, professional visualization, and data center markets. In addition to its GPUs, NVIDIA Corporation (NASDAQ:NVDA) also offers a range of software products, including graphics drivers, development tools, and game engine integrations. The company also provides related services to its customers, including technical support and maintenance services.

On December 8, 2022, Ivan Feinseth, an analyst at Tigress Financial, reduced his price target on NVIDIA Corporation (NASDAQ:NVDA) to $250 while keeping a Buy rating on the stock. The analyst believes that the company’s dominant position in artificial intelligence and several new collaborations and products will help the company to overcome short-term challenges and will prepare it for future upcycle.

89 hedge funds were long on the company’s stock at the end of the third quarter, according to Insider Monkey’s database. Fisher Asset Management had the biggest long position in the company at the end of Q3 2022.