NVIDIA (NVDA) Among Top PC-Related Names but That's Not Saying Much

February 12, 2013 1:02 PM EST
Get Alerts NVDA Hot Sheet
Price: $104.01 -1.09%

Rating Summary:
    24 Buy, 17 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Ahead of NVIDIA's (NASDAQ: NVDA) earnings release after the close on Wednesday, analysts at FBR cuts the company's price target to $14 from $16, while maintaining a Market Perform rating. Analysts said checks suggest 4Q12 PC chip sales were "challenging" and see few catalysts on a longer term basis, despite the stock's reasonable price.

"We expect more PC weakness in 1Q13 with some OEMs/ODMs anticipating a 15%–20% sequential shipment decline as smartphone/tablet cannibalization and demand weakness continue," said analyst Craig Berger.

"We are neutral on NVDA shares given ongoing demand weakness in PCs, smartphone/tablet cannibalization impacts, and a lack of meaningful catalysts for now, but we note NVDA is one of the more attractive PC chip stocks in the sector given mobile growth opportunities, its profitable model, and $5.50 of net cash," added Berger.

For an analyst ratings summary and ratings history on NVIDIA (NASDAQ: NVDA) click here. For more ratings news on NVIDIA click here.

Shares of NVIDIA closed at $12.51 yesterday.

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