Nvidia, King of Cash: Might They Buy IBM’s ‘Power’ Chip? Asks Nomura

By Tiernan Ray Nomura’s Romit Shah, reflecting on the filing this week of a shelf registration by Nivida (NVDA) to sell a variety of securities, muses that the offer might be nothing, or it might presage something like a large M&A deal. Writes Shah, who has a Buy rating on the shares, and a $62.50 price target, the filing is in contrast to the fact that Nvidia’s already got a bundle of cash and is making more fast. “Cash and marketable securities in the October period, per our estimation, will be more than $5 billion or almost 15% of the market cap,” he observes. “In addition, we project that free cash flow will run-rate at almost $2 billion annually in fiscal 2H-17. In semis, Nvidia truly is one of kings of cash.” Shah points out…


Link to Full Article: Nvidia, King of Cash: Might They Buy IBM’s ‘Power’ Chip? Asks Nomura

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