Needham & Company Maintains a 'Buy' on NVIDIA (NVDA); Key Announcements Keep Us Bullish
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Price: $14.57 +1.18%
Rating Summary:
10 Buy, 22 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 19 | Down: 23 | New: 29
Rating Summary:
10 Buy, 22 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 19 | Down: 23 | New: 29
Trade NVDA Now!
Needham & Company maintains a 'Buy' on NVIDIA (NASDAQ: NVDA) price target of $20.00.
Analyst, Rajvindra S. Gill, said, "At its analyst day in Santa Clara, CA, NVDA made two strategic announcements: 1) the conceptualization of the virtualized GPU for cloud computing, and 2) the augmentation of Tegra into the smartphone market with AT&T LTE announcements and mounting design wins in China. While we believe virtualized GPUs will take time to be adopted, we nevertheless applaud NVDA’s vision to expand GPUs into increasingly more applications and end markets. On the smartphone side, we believe NVDA has a good chance to become a viable alternative supplier to QUALCOMM (Nasdaq: QCOM), both in LTE (data-only) and integrated application/baseband. With 40% of its mkt. cap in cash, the Street is not appropriately valuing the TAM expansion and potential revenue opportunity, in our view."
For an analyst ratings summary and ratings history on NVIDIA click here. For more ratings news on NVIDIA click here.
Shares of NVIDIA closed at $12.11 yesterday, with a 52 week range of $11.47-$20.05.
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Analyst, Rajvindra S. Gill, said, "At its analyst day in Santa Clara, CA, NVDA made two strategic announcements: 1) the conceptualization of the virtualized GPU for cloud computing, and 2) the augmentation of Tegra into the smartphone market with AT&T LTE announcements and mounting design wins in China. While we believe virtualized GPUs will take time to be adopted, we nevertheless applaud NVDA’s vision to expand GPUs into increasingly more applications and end markets. On the smartphone side, we believe NVDA has a good chance to become a viable alternative supplier to QUALCOMM (Nasdaq: QCOM), both in LTE (data-only) and integrated application/baseband. With 40% of its mkt. cap in cash, the Street is not appropriately valuing the TAM expansion and potential revenue opportunity, in our view."
For an analyst ratings summary and ratings history on NVIDIA click here. For more ratings news on NVIDIA click here.
Shares of NVIDIA closed at $12.11 yesterday, with a 52 week range of $11.47-$20.05.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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