Analysts’ Top Consumer Goods Picks: IDCC, NVDA

By Austin Angelo

There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on InterDigital (NASDAQ: IDCC) and Nvidia (NASDAQ: NVDA) with bullish sentiments.

InterDigital (NASDAQ: IDCC)

B.Riley FBR analyst Eric Wold assigned a Buy rating to InterDigital (NASDAQ: IDCC) today and set a price target of $100. The company’s shares closed yesterday at $72.10, close to its 52-week low of $67.55.

Wold said:

“We will make any required changes to our model as necessary at a later date. We continue to believe IDCC is well positioned to benefit from both the remaining key handset OEMs expected to come under license in the coming quarters as well as the entire sector moving closer to 5G adoption and increasing penetration of IoT. With that in mind, we recommend adding to positions in IDCC — especially on any short-term pullbacks — as the signing of those remaining OEMs is expected to have a meaningfully positive impact on both the balance sheet and the recurring license revenue outlook.”

According to TipRanks.com, Wold is a 3-star analyst with an average return of 1.9% and a 44.6% success rate. Wold covers the Services sector, focusing on stocks such as Salem Communications Corp, Lions Gate Ent Corp Cl A, and Ballantyne Strong Inc.

InterDigital has an analyst consensus of Moderate Buy, with a price target consensus of $100.

Nvidia (NASDAQ: NVDA)

B.Riley FBR analyst Craig Ellis assigned a Buy rating to Nvidia (NASDAQ: NVDA) today and set a price target of $270. The company’s shares closed yesterday at $212.63, close to its 52-week high of $218.67.

According to TipRanks.com, Ellis is a top 25 analyst with an average return of 30.5% and a 80.2% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Axcelis Technologies, and Rudolph Technologies.

Currently, the analyst consensus on Nvidia is Moderate Buy and the average price target is $215.17, representing a 1.2% upside.

In a report issued on October 30, RBC Capital also reiterated a Buy rating on the stock with a $230 price target.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.