Gleacher & Co. Maintains a 'Neutral' on NVIDIA (NVDA); Q1 Preview
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Price: $225.16 -0.06%
Rating Summary:
58 Buy, 10 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
58 Buy, 10 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Gleacher & Co. maintains a 'Neutral' on NVIDIA (NASDAQ: NVDA).
Gleacher analyst says, "We are curbing our quarterly growth expectations for the July, October and January quarters in order to arrive at, or slightly below, Street revenue expectations. At the same time, we are raising operating expenses ever so slightly ahead of an underestimated spending cycle, which results in our below Street EPS for FY12. For April, we believe the company turned in an in-line quarter, which was helped by strong Tegra2 sell-in within the handset (we estimate 3.5mil units in Q1) and tablet market (we estimate 1-1.5mil units in Q1), possibly helping to offset potential risk of slight GPU share loss to AMD (see AAPL). As such, we would expect nVidia to report toward the mid-point of its guided $940mil-$957mil range (GLCH at $948mil and $0.19, the Street at $947mil and $0.19). For July, we expect above seasonal guidance of +3%-+6% Q/Q (vs. 8-yr average of -1% Q/Q) as we expect $991mil (+4.5% Q/Q) and $0.24 vs. the Street at $992mil and $0.24."
For more ratings news on NVIDIA click here and for the rating history of NVIDIA click here.
Shares of NVIDIA closed at $19.32 yesterday.
Gleacher analyst says, "We are curbing our quarterly growth expectations for the July, October and January quarters in order to arrive at, or slightly below, Street revenue expectations. At the same time, we are raising operating expenses ever so slightly ahead of an underestimated spending cycle, which results in our below Street EPS for FY12. For April, we believe the company turned in an in-line quarter, which was helped by strong Tegra2 sell-in within the handset (we estimate 3.5mil units in Q1) and tablet market (we estimate 1-1.5mil units in Q1), possibly helping to offset potential risk of slight GPU share loss to AMD (see AAPL). As such, we would expect nVidia to report toward the mid-point of its guided $940mil-$957mil range (GLCH at $948mil and $0.19, the Street at $947mil and $0.19). For July, we expect above seasonal guidance of +3%-+6% Q/Q (vs. 8-yr average of -1% Q/Q) as we expect $991mil (+4.5% Q/Q) and $0.24 vs. the Street at $992mil and $0.24."
For more ratings news on NVIDIA click here and for the rating history of NVIDIA click here.
Shares of NVIDIA closed at $19.32 yesterday.
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