TrinityBridge Ltd Boosts NVIDIA Stake by 22.6% in Second Quarter

TrinityBridge Ltd significantly increased its stake in NVIDIA Corporation (NASDAQ:NVDA) during the second quarter, growing its position by 22.6%. The fund now holds 462,177 shares of the computer hardware maker, valued at $92,329,000. NVIDIA represents 2.5% of TrinityBridge Ltd's portfolio, making it the 14th largest holding in their investment portfolio.

Several other institutional investors also adjusted their positions in NVIDIA during the same period. Bernicke Wealth Management Ltd. increased its stake by 1.0%, bringing its total holdings to 54,769 shares worth $10,959,000. Silvant Capital Management LLC raised its position by 1.9%, now owning 2,174,219 shares valued at $435,040,000. Impax Asset Management Group plc grew its stake by 2.2%, holding 3,722,756 shares worth $744,886,000. KilterHowling LLC increased its position by 2.6%, now owning 8,185 shares valued at $1,638,000, while Kilter Group LLC raised its stake by 5.9%, holding 8,795 shares worth $1,760,000.

Analysts have shown bullish sentiment toward NVIDIA. Morgan Stanley set a target price of $230.00, while JPMorgan Chase & Co. increased their target from $280.00 to $320.00, maintaining an "overweight" rating. Rosenblatt Securities reaffirmed a "buy" rating with a target price of $390.00. Needham & Company LLC also reaffirmed a "buy" rating with a target price of $300.00. The stock has a consensus rating of "Buy" and a consensus target price of $321.89.

NVIDIA's stock opened at $238.90 on Tuesday, with a market capitalization of $5.76 trillion. The company reported strong quarterly earnings, with $2.22 earnings per share, beating estimates by $0.13. Revenue for the quarter was $96.22 billion, up 105.9% year-over-year. The company also announced a quarterly dividend of $0.25, paid on October 1st, and a share repurchase program authorization of $150.00 billion.