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

February 12, 2013 1:02 PM EST Send to a Friend
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Price: $17.89 -2.35%

Rating Summary:
    12 Buy, 21 Hold, 5 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 29 | Down: 28 | New: 24
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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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