Congresswoman Nancy Pelosi has bought shares of two semiconductor giants, Nvidia (NASDAQ:NVDA) and Broadcom (NASDAQ:AVGO), according to a new filing. Pelosi is one of the most closely monitored politicians as she is considered a savvy investor due to her large gains.
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Pelosi’s New Positions
In a series of transactions between June 24 and July 1, the former Speaker of the House purchased 10,000 shares of Nvidia, worth between $1 million and $5 million. Additionally, Pelosi purchased twenty call options on Broadcom with a strike price of $800. The call options on Broadcom will expire on June 20, 2025, and are valued in the range of $1 million to $5 million. A call option is a contract that gives the buyer the right to buy an underlying asset at a predetermined price within a specific time.
Shares of Nvidia and Broadcom have skyrocketed by more than 100% and more than 50% year-to-date, respectively, driven by a rise in AI spending.
Furthermore, the 84-year-old Pelosi sold 2,500 shares of Tesla (NASDAQ:TSLA) worth between $250,001 and $500,000, and shares of Visa (NYSE:V) valued between $500,000 and $1 million
What Is the Target Price for NVDA?
Analysts remain bullish about NVDA stock, with a Strong Buy consensus rating based on 38 Buys and three Holds. The average NVDA price target of $135.81 implies an upside potential of 5.87% from current levels.
