Impax Asset Management Boosts NVIDIA Stake by 2.2 Percent
Impax Asset Management Group plc increased its stake in NVIDIA Corporation (NASDAQ: NVDA) by 2.2% during the second quarter, according to its latest 13F filing with the SEC. The institutional investor now holds 3,722,756 shares of the computer hardware company, worth approximately $744.88 million. This positions NVIDIA as the second-largest holding in Impax's portfolio, comprising 4.8% of its total investments.
Several other institutional investors also adjusted their positions in NVIDIA during recent quarters. For example, Lifetime Wealth Management P.C. initiated a new position valued at $26,000, while Langley Wealth Management LLC acquired a stake worth $34,000. Institutional investors collectively own 65.27% of NVIDIA's stock.
Analysts and investors have shown strong interest in NVIDIA, with Morgan Stanley naming it their top semiconductor pick and maintaining an Overweight rating with a $300 price target. The company recently authorized a $150 billion share buyback, bringing its total repurchase capacity to around $235 billion. This move is seen as a vote of confidence from management.
However, challenges remain. Reports suggest Amazon may move $8 billion worth of NVIDIA chips off its balance sheet through leasing or financing structures, raising questions about AI infrastructure financing. Additionally, export-control concerns persist after allegations of NVIDIA chip smuggling to China. Despite these risks, NVIDIA's stock has shown resilience, with a 50-day moving average of $218.74 and a 200-day moving average of $207.65.