NVIDIA To Report Earnings On 2/16

Sterne Agee has published a research report on NVIDIA Corporation

in anticipation of the company's earnings report expected Wednesday, February 16th. In the report, Sterne Agee writes "We believe overall the January quarter was pretty much inline as the Sandybridge started ramping only late in the JanQ and PC-NB shipments improved in the December quarter given lower channel inventories during holidays as noted by the PC OEMs. Our FY12 revenue/EPS estimates are $4.12B/$0.87 and FY13 estimates at $4.47B/$0.90. We are assuming 35M Tegra unit shipments for C11E and 48M Tegra shipments for C12E. NVDA is now trading at 26x forward P/E, well above peers. We believe NVDA is fairly valued, with the Android 3.0 wins and with investors waiting to see actual sell-through from the introduced tablets and smartphones. Also there is competition from Snapdragon-OMAP4 with competing tablets. Samsung also announced today its own 1Ghz Dual core Application processor Exynos for its Galaxy Smartphones S11. We believe the dual core is directed to running future Android 3.0s as well." Sterne Agee maintains its Neutral rating on NVIDIA Corporation, which closed yesterday at $23.11.