Nvidia (NVDA) Stock Slides as Rubin Delay Spooks the Market — Here’s What Analysts Say

TLDR

• KeyBanc analyst John Vinh flagged a thermal lid issue causing a slight delay in Nvidia’s Vera Rubin chip rollout
• Vinh still expects 1.7M–1.8M Rubin chips to ship this year, with the ramp starting in July
• KeyBanc raised its price target on NVDA from $310 to $330, keeping an Outperform rating
• NVDA was trading around $203–$205 Tuesday, down roughly 3.4% on the day
• Insiders sold nearly 1.9 million shares worth ~$410.6M over the past 90 days

---

Nvidia stock dipped as much as 3.4% on Tuesday, opening at $203.69, as news of a delay to its next-generation Vera Rubin chip ramp weighed on sentiment. Despite that drop, at least one analyst isn’t worried.

NVIDIA Corporation, NVDA

KeyBanc analyst John Vinh published a note Monday flagging a thermal lid issue with Nvidia’s Rubin GPUs. The problem has been resolved, but it pushed back the timeline for mass shipments.

“We’re seeing a slight delay in the ramp of Rubin due to the thermal lid issues, which have been resolved, but are seeing indications that Rubin will start ramping in July,” Vinh wrote.

Vinh pulled the data from conversations with participants in the Asian supply chain, a common channel for getting early read on chip production timelines.

Despite the hiccup, Vinh held his full-year shipment forecast steady — 1.7 million to 1.8 million Rubin units, plus 5.5 million to 6.0 million units of the current Blackwell hardware.

He also raised his price target on NVDA to $330 from $310 and kept his Outperform rating. The new target is pegged to 25 times KeyBanc’s fiscal 2028 earnings estimate.

Analyst Sentiment Stays Bullish

Vinh isn’t alone in his optimism. Wall Street broadly remains positive on the stock. Out of 53 analysts tracked by MarketBeat, 48 have a Buy rating, two have Strong Buy, and just three hold a Hold. The consensus price target sits at $303.84.

Bank of America, Cantor Fitzgerald, and Robert W. Baird have all issued or reiterated bullish calls in recent months, with targets ranging from $270 to $500.

NVDA has a 52-week low of $162.02 and a 52-week high of $236.54. The stock is up 9.1% year-to-date through Monday’s close, though it’s lagged the broader chip sector.

Insider Selling Worth Watching

While analysts stay upbeat, insiders have been selling. Director Mark A. Stevens sold 885,000 shares on June 18th at an average of $210.17, totaling roughly $186 million. Director Stephen C. Neal sold 15,500 shares on June 3rd at $215.73.

In total, insiders have offloaded around 1.9 million shares worth approximately $410.6 million over the past 90 days. Corporate insiders now own just 3.94% of the stock.

That said, institutional investors still hold 65.27% of NVDA, and Plimoth Trust Co. LLC bumped its position by 3.1% in Q1, bringing its NVDA holdings to around $22.59 million — making it the fund’s second-largest position.

Nvidia last reported earnings on May 20th, posting $1.87 EPS, beating the $1.76 consensus. Revenue came in at $81.61 billion versus expectations of $78.42 billion — up 85.2% year-over-year.

The company also authorized an $80 billion share buyback and raised its quarterly dividend to $0.25 — up from $0.01 previously.

Nvidia’s consensus analyst price target of $303.84 implies roughly 49% upside from Tuesday’s trading levels near $203.