Needham & Company Sees Post-Earnings Rally in NVIDIA (NVDA)
Tweet Send to a FriendGet Alerts NVDA Hot Sheet
Price: $14.54 -0.62%
Rating Summary:
10 Buy, 22 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
10 Buy, 22 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade NVDA Now!
Analysts at Needham & Company think an in-line print/guide could prompt a "well-deserved" rally in shares of NVIDIA (NASDAQ: NVDA) Today analysts at the firm maintained their Buy rating and $20 price target on stock.
"Unlike several semiconductor companies that have guided down during this earnings cycle, we believe NVDA could meet and/or beat F2Q13 and F3Q13," said Rajvindra S. Gill.
"Tegra revenues are tacking well with growth stemming from the China handset market (18 of 30 of Tegra design wins are sold into China), good sell-through for Non-Apple tablets (namely Google Nexus and Asustek Transformer Prime), and the build for MSFT’s Surface RT tablet. On the graphics side, we expect revenues to come in line with expectations despite the lackluster PC environment, driven by share gains against AMD (28nm Kepler) and ramp of Apple’s MacBook Pros (using NVDA’s discrete GPU)," said Gill.
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 $14.01 yesterday, with a 52 week range of $11.47-$16.90.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
"Unlike several semiconductor companies that have guided down during this earnings cycle, we believe NVDA could meet and/or beat F2Q13 and F3Q13," said Rajvindra S. Gill.
"Tegra revenues are tacking well with growth stemming from the China handset market (18 of 30 of Tegra design wins are sold into China), good sell-through for Non-Apple tablets (namely Google Nexus and Asustek Transformer Prime), and the build for MSFT’s Surface RT tablet. On the graphics side, we expect revenues to come in line with expectations despite the lackluster PC environment, driven by share gains against AMD (28nm Kepler) and ramp of Apple’s MacBook Pros (using NVDA’s discrete GPU)," said Gill.
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 $14.01 yesterday, with a 52 week range of $11.47-$16.90.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: A.G. Lafley Gives Procter & Gamble (PG) Investors 'New Hope', UBS Upgrades to Buy
- Toll Bros. (TOL) Estimates/PT Raised at Compass Point
- Janney Capital Boosts PT on Gap (GPS) Post Q1
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS ViewRelated Entities
Needham & Company, Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
