Update - Needham & Company Downgrades NVIDIA (NVDA) to Hold; Concerns of Fermi Ramp and Gross Margin Risk

April 16, 2010 9:34 AM EDT
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Update - Needham & Company downgrades NVIDIA (Nasdaq: NVDA) from Strong Buy to Hold.

Needham analyst says, "We are downgrading NVIDIA to a Hold and removing our 12-month price target (was $22) after a series of channel checks indicating that Fermi is not ramping well and there could be further product delays. Based on our findings, NVIDIA has very limited supply of Fermi desktop/notebook parts and yields remain poor at around 20-30%...For FY11, our ests fall to $3.9BN/$0.80 (vs. $4.05BN/$0.94). For FY12, our ests fall to $4.1BN/$1.00 (vs. $4.25BN/$1.12)."

To see all the upgrades/downgrades on shares of NVDA, visit our Analyst Ratings page.

NVIDIA Corporation (NVIDIA) is a provider of visual computing technologies and the inventor of the graphics processing unit (GPU).

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