Novellus Systems, Inc. (NASDAQ: NVLS), Northstar Realty Finance Corp. (NYSE: NRF), Owens Corning (NYSE: OC), First Potomac Realty (NYSE: FPO), L.B. Foster Company (NASDAQ: FSTR) and Granite Construction Inc. (NYSE: GVA) were downgraded by analysts.
Northstar Realty Finance Corp. (NRF) was downgraded by Zacks Investment Research from an “Outperform” rating to a “Neutral” rating.
Novellus Systems, Inc. (NVLS) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from an “Overweight” rating to a “Neutral” rating.
Owens Corning (OC) was downgraded by RBC Capital to an “Outperform” rating.
First Potomac Realty (FPO) was downgraded by Keefe, Bruyette & Woods to a “Market Perform” rating.
L.B. Foster Company (FSTR) was downgraded by Zacks Investment Research from an “Outperform” rating to a “Neutral” rating.
Granite Construction Inc. (GVA) was downgraded by Zacks Investment Research from an “Outperform” rating to a “Neutral” rating.
Showing posts with label Novellus. Show all posts
Showing posts with label Novellus. Show all posts
Wednesday, December 21, 2011
Tuesday, December 20, 2011
Novellus (NVLS) (OC) (RHI) (KLAC) (LIFE) (THO) Ratings, Price Targets
Novellus Systems, Inc. (NASDAQ: NVLS), Owens Corning (NYSE: OC), Robert Half (NYSE: RHI), KLA-Tencor (NASDAQ: KLAC), Life Technologies Corporation (NASDAQ: LIFE) and Thor Industries, Inc. (NYSE: THO) ratings and price targets.
Novellus Systems, Inc. (NVLS) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from an “Overweight” rating to a “Neutral” rating.
Owens Corning (OC) was downgraded by RBC Capital to an “Outperform” rating.
Robert Half (RHI) was downgraded by Bank of America (NYSE:BAC) from a “Buy” rating to a “Neutral” rating.
KLA-Tencor (KLAC) was upgraded by JPMorgan Chase & Co. (NYSE:JPM) from a “Neutral” rating to an “Overweight” rating. They have a price target of $52.00 on the company.
Life Technologies Corporation (LIFE) was upgraded by Maxim Group from a “Hold” rating to a “Buy” rating.
Wedbush initiated coverage on Thor Industries, Inc. (THO). They have a “Neutral” rating on the firm.
Novellus Systems, Inc. (NVLS) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from an “Overweight” rating to a “Neutral” rating.
Owens Corning (OC) was downgraded by RBC Capital to an “Outperform” rating.
Robert Half (RHI) was downgraded by Bank of America (NYSE:BAC) from a “Buy” rating to a “Neutral” rating.
KLA-Tencor (KLAC) was upgraded by JPMorgan Chase & Co. (NYSE:JPM) from a “Neutral” rating to an “Overweight” rating. They have a price target of $52.00 on the company.
Life Technologies Corporation (LIFE) was upgraded by Maxim Group from a “Hold” rating to a “Buy” rating.
Wedbush initiated coverage on Thor Industries, Inc. (THO). They have a “Neutral” rating on the firm.
Friday, December 16, 2011
Helios & Matheson (HMNY) (OKSB) (ZOLL) (SONO) (NVLS) (ACHC) Biggest NASDAQ Gainers
Helios & Matheson (NASDAQ:HMNY), Southwest Bancorp Inc. (NASDAQ:OKSB), ZOLL Medical (NASDAQ:ZOLL), SonoSite Inc. (NASDAQ:SONO), Novellus Systems, Inc. (NASDAQ:NVLS) and Acadia Healthcare (NASDAQ:ACHC) were the biggest Gainers on the NASDAQ, Thursday, December 15.
Helios & Matheson (HMNY) ended the session up 145.31 percent, closing at $3.14. They traded in a range of $3.75 and as low as $1.31. A total of 172,749 shares changed hands.
Southwest Bancorp Inc. (OKSB) ended the session up 29.31 percent, closing at $6.00. They traded in a range of $6.39 and as low as $5.78. A total of 635,582 shares changed hands.
ZOLL Medical (ZOLL) ended the session up 28.17 percent, closing at $60.02. They traded in a range of $63.86 and as low as $47.28. A total of 2,023,514 shares changed hands.
SonoSite Inc. (SONO) ended the session up 27.11 percent, closing at $53.69. They traded in a range of $53.73 and as low as $53.51. A total of 15,619,706 shares changed hands.
Novellus Systems, Inc. (NVLS) ended the session up 16.51 percent, closing at $40.43. They traded in a range of $42.50 and as low as $39.49. A total of 31,805,667 shares changed hands.
Acadia Healthcare (ACHC) ended the session up 16.36 percent, closing at $8.75. They traded in a range of $9.32 and as low as $8.15. A total of 1,982,851 shares changed hands.
Helios & Matheson (HMNY) ended the session up 145.31 percent, closing at $3.14. They traded in a range of $3.75 and as low as $1.31. A total of 172,749 shares changed hands.
Southwest Bancorp Inc. (OKSB) ended the session up 29.31 percent, closing at $6.00. They traded in a range of $6.39 and as low as $5.78. A total of 635,582 shares changed hands.
ZOLL Medical (ZOLL) ended the session up 28.17 percent, closing at $60.02. They traded in a range of $63.86 and as low as $47.28. A total of 2,023,514 shares changed hands.
SonoSite Inc. (SONO) ended the session up 27.11 percent, closing at $53.69. They traded in a range of $53.73 and as low as $53.51. A total of 15,619,706 shares changed hands.
Novellus Systems, Inc. (NVLS) ended the session up 16.51 percent, closing at $40.43. They traded in a range of $42.50 and as low as $39.49. A total of 31,805,667 shares changed hands.
Acadia Healthcare (ACHC) ended the session up 16.36 percent, closing at $8.75. They traded in a range of $9.32 and as low as $8.15. A total of 1,982,851 shares changed hands.
Wednesday, November 30, 2011
FMC (FTI) (NR) (NVLS) (DVR) (ESC) (FEIC) Get New Coverage
FMC Tech (NYSE: FTI), Newpark Resources, Inc. (NYSE: NR), Novellus Systems, Inc. (NASDAQ: NVLS), Cal Dive International, Inc. (NYSE: DVR), Emeritus Co. (NYSE: ESC) and FEI (NASDAQ: FEIC) getting new coverage from analysts.
Jefferies (NYSE:JEF) initiated coverage on FMC Tech (FTI). They placed a “Hold” rating on the company.
Canaccord Genuity initiated coverage on Newpark Resources, Inc. (NR). They placed a “Hold” rating and a price target of $10.00 on the company.
Deutsche Bank (NYSE:DB) initiated coverage on Novellus Systems, Inc. (NVLS). They placed a “Hold” rating and a price target of $33.00 on the company.
Jefferies initiated coverage on Cal Dive International, Inc. (DVR). They placed a “Buy” rating on the company.
JMP Securities initiated coverage on Emeritus Co. (ESC). They placed an “Outperform” rating and a price target of $20.00 on the company.
Dougherty & Co. initiated coverage on FEI (FEIC). They placed a “Buy” rating and a price target of $49.00 on the company.
Jefferies (NYSE:JEF) initiated coverage on FMC Tech (FTI). They placed a “Hold” rating on the company.
Canaccord Genuity initiated coverage on Newpark Resources, Inc. (NR). They placed a “Hold” rating and a price target of $10.00 on the company.
Deutsche Bank (NYSE:DB) initiated coverage on Novellus Systems, Inc. (NVLS). They placed a “Hold” rating and a price target of $33.00 on the company.
Jefferies initiated coverage on Cal Dive International, Inc. (DVR). They placed a “Buy” rating on the company.
JMP Securities initiated coverage on Emeritus Co. (ESC). They placed an “Outperform” rating and a price target of $20.00 on the company.
Dougherty & Co. initiated coverage on FEI (FEIC). They placed a “Buy” rating and a price target of $49.00 on the company.
Friday, September 2, 2011
Saia (SAIA) (HR) (PVH) (IGN) (MDSO) (NVLS) (PPL) Price Targets Changed
Saia Inc. (NASDAQ: SAIA), Healthcare Realty Trust (NYSE: HR), Phillips-Van Heusen (NYSE: PVH), iShares Goldman Sachs Network (IGN), Medidata Solutions, Inc. (NASDAQ: MDSO), Novellus Systems, Inc. (NASDAQ: NVLS) and PPL Co. (NYSE: PPL) have price targets adjusted by analysts.
Saia Inc. (SAIA) had its price target lowered by Jefferies (NYSE:JEF) to $16.00.
Healthcare Realty Trust (HR) had its price target lowered by JPMorgan Chase & Co. (NYSE:JPM) to $20.00.
Phillips-Van Heusen (PVH) had its price target raised by Goldman Sachs (NYSE:GS) to $88.00.
iShares Goldman Sachs Network (IGN) had its price target lowered by Goldman Sachs to $165.00.
Medidata Solutions, Inc. (MDSO) had its price target lowered by Goldman Sachs to $18.00.
Novellus Systems, Inc. (NVLS) had its price target lowered by Needham & Company from $38.00 to $32.00. They have a “Buy” rating on the company.
PPL Co. (PPL) had its price target raised by Ticonderoga from $30.00 to $33.00. They have a “Buy” rating on the company.
Saia Inc. (SAIA) had its price target lowered by Jefferies (NYSE:JEF) to $16.00.
Healthcare Realty Trust (HR) had its price target lowered by JPMorgan Chase & Co. (NYSE:JPM) to $20.00.
Phillips-Van Heusen (PVH) had its price target raised by Goldman Sachs (NYSE:GS) to $88.00.
iShares Goldman Sachs Network (IGN) had its price target lowered by Goldman Sachs to $165.00.
Medidata Solutions, Inc. (MDSO) had its price target lowered by Goldman Sachs to $18.00.
Novellus Systems, Inc. (NVLS) had its price target lowered by Needham & Company from $38.00 to $32.00. They have a “Buy” rating on the company.
PPL Co. (PPL) had its price target raised by Ticonderoga from $30.00 to $33.00. They have a “Buy” rating on the company.
Wednesday, August 31, 2011
Novellus (NVLS) (GEDU) (IGTE) (IVR) Price Targets Changed
Novellus Systems, Inc. (NASDAQ: NVLS), Global Education (NASDAQ: GEDU), iGATE Co. (NASDAQ: IGTE) and Invesco Mortgage Capital Inc (NYSE: IVR) price targets adjusted by analysts.
Novellus Systems, Inc. (NVLS) had its price target lowered by RBC Capital from $37.00 to $34.00. They have an “Outperform” rating on the company.
Global Education (GEDU) had its price target lowered by Piper Jaffray (NYSE:PJC) to $5.00.
iGATE Co. (IGTE) had its price target lowered by Kaufman Brothers from $23.00 to $18.00. They have a “Buy” rating on the company.
Invesco Mortgage Capital Inc. (IVR) had its price target lowered by FBR Capital from $24.00 to $20.00. They have an “Outperform” rating on the company.
Novellus Systems, Inc. (NVLS) had its price target lowered by RBC Capital from $37.00 to $34.00. They have an “Outperform” rating on the company.
Global Education (GEDU) had its price target lowered by Piper Jaffray (NYSE:PJC) to $5.00.
iGATE Co. (IGTE) had its price target lowered by Kaufman Brothers from $23.00 to $18.00. They have a “Buy” rating on the company.
Invesco Mortgage Capital Inc. (IVR) had its price target lowered by FBR Capital from $24.00 to $20.00. They have an “Outperform” rating on the company.
Tuesday, August 30, 2011
Pandora (P) (ENDP) (HERO) (MAIL) (NVLS) (PANL) (PBI) (SIG) Ratings Reiterated
Pandora Media (NYSE: P), Endo Pharmaceuticals (NASDAQ: ENDP), Hercules Offshore, Inc. (NASDAQ: HERO), Incredimail Ltd. (NASDAQ: MAIL), Novellus Systems, Inc. (NASDAQ: NVLS), Universal Display Co. (NASDAQ: PANL), Pitney Bowes Inc. (NYSE: PBI) and Signet Jewelers Ltd. (NYSE: SIG) had their ratings reiterated by analysts.
Morgan Stanley (NYSE:MS) reiterated an "Equal Weight" rating on Pandora Media (P).
Piper Jaffray (NYSE:PJC) reiterated an “Overweight” rating on Endo Pharmaceuticals (ENDP).
Jefferies (NYSE:JEF) reiterated a "Buy" rating on Hercules Offshore, Inc. (HERO).
Goldman Sachs (NYSE:GS) reiterated a "Buy" rating on Incredimail Ltd. (MAIL).
Stifel Nicolaus reiterated a "Hold" rating on Novellus Systems, Inc. (NVLS).
Gabelli reiterated a "Buy" rating on Universal Display Co. (PANL).
BMC Equities Research reiterated a "Buy" rating on Pitney Bowes Inc. (PBI).
JPMorgan Chase & Co. (NYSE:JPM) reiterated an “Overweight” rating on Signet Jewelers Ltd. (SIG).
Morgan Stanley (NYSE:MS) reiterated an "Equal Weight" rating on Pandora Media (P).
Piper Jaffray (NYSE:PJC) reiterated an “Overweight” rating on Endo Pharmaceuticals (ENDP).
Jefferies (NYSE:JEF) reiterated a "Buy" rating on Hercules Offshore, Inc. (HERO).
Goldman Sachs (NYSE:GS) reiterated a "Buy" rating on Incredimail Ltd. (MAIL).
Stifel Nicolaus reiterated a "Hold" rating on Novellus Systems, Inc. (NVLS).
Gabelli reiterated a "Buy" rating on Universal Display Co. (PANL).
BMC Equities Research reiterated a "Buy" rating on Pitney Bowes Inc. (PBI).
JPMorgan Chase & Co. (NYSE:JPM) reiterated an “Overweight” rating on Signet Jewelers Ltd. (SIG).
Friday, April 29, 2011
Open Text (OTEX) (NSC) (NVLS) (ODFL) (PFCB) Price Targets Adjusted
Price targets on Open Text (NASDAQ: OTEX), Norfolk Southern Corp. (NYSE: NSC), Novellus Systems, Inc. (NASDAQ: NVLS), Old Dominion (NASDAQ: ODFL) and P.F. Chang’s China Bistro (NASDAQ: PFCB) adjusted by analysts.
Stifel Nicolaus raised their price target on Norfolk Southern Corp. (NSC) from $78.00 to $83.00. They have a “buy” rating on the company.
Needham & Company cut their price target on Novellus Systems, Inc. (NVLS) from $45.00 to $41.00. They have a “buy” rating on the company.
Longbow Research raised their price target on Old Dominion (ODFL) from $38.00 to $46.00. They have a “buy” rating on the company.
Wunderlich raised their price target on Open Text (OTEX) from $60.00 to $70.00. They have a “buy” rating on the company.
RBC Capital cut their price target on P.F. Chang’s China Bistro (PFCB) from $55.00 to $52.00. They have an “outperform” rating on the company.
Stifel Nicolaus raised their price target on Norfolk Southern Corp. (NSC) from $78.00 to $83.00. They have a “buy” rating on the company.
Needham & Company cut their price target on Novellus Systems, Inc. (NVLS) from $45.00 to $41.00. They have a “buy” rating on the company.
Longbow Research raised their price target on Old Dominion (ODFL) from $38.00 to $46.00. They have a “buy” rating on the company.
Wunderlich raised their price target on Open Text (OTEX) from $60.00 to $70.00. They have a “buy” rating on the company.
RBC Capital cut their price target on P.F. Chang’s China Bistro (PFCB) from $55.00 to $52.00. They have an “outperform” rating on the company.
NutriSystem (NTRI) (NSC) (NEWP) (NOC) (NVLS) Price Targets Adjusted
Price targets on NutriSystem Inc (NASDAQ: NTRI), Norfolk Southern Corp. (NYSE: NSC), Newport Co. (NASDAQ: NEWP), Northrop Grumman (NYSE: NOC) and Novellus Systems, Inc. (NASDAQ: NVLS) adjusted by analysts.
Jefferies (NYSE:JEF) raised their price target on Norfolk Southern Corp. (NSC) from $77.00 to $78.00.
Longbow Research raised their price target on Newport Co. (NEWP) from $22.00 to $25.00. They have a “buy” rating on the company.
JPMorgan Chase & Co. (NYSE:JPM) cut their price target on Northrop Grumman (NOC) from $53.00 to $52.00.
Wedbush raised their price target on NutriSystem Inc (NTRI) from $13.00 to $17.00. They have a “neutral” rating on the company.
RBC Capital cut their price target on Novellus Systems, Inc. (NVLS) from $38.00 to $36.00. They have an “outperform” rating on the company.
Jefferies (NYSE:JEF) raised their price target on Norfolk Southern Corp. (NSC) from $77.00 to $78.00.
Longbow Research raised their price target on Newport Co. (NEWP) from $22.00 to $25.00. They have a “buy” rating on the company.
JPMorgan Chase & Co. (NYSE:JPM) cut their price target on Northrop Grumman (NOC) from $53.00 to $52.00.
Wedbush raised their price target on NutriSystem Inc (NTRI) from $13.00 to $17.00. They have a “neutral” rating on the company.
RBC Capital cut their price target on Novellus Systems, Inc. (NVLS) from $38.00 to $36.00. They have an “outperform” rating on the company.
Tuesday, April 12, 2011
Cisco (CSCO) (NVDA) (NVLS) Down on S&P Cuts
The S&P’s Equity Strategy Group downgraded the overall tech sector from "Overweight" to "Market Weight," pushing down the share price of tech companies like Cisco Systems Inc. (NASDAQ:CSCO), NVIDIA Corporation (NASDAQ:NVDA) and Novellus Systems Inc. (NASDAQ:NVLS).
The Nasdaq Composite Index (COMP) fell 0.3% to close at 2,771.5 as S&P said the tech sector “has recently begun exhibiting more lackluster relative performance as the global economic cycle matures.”
S&P added that “the surging popularity of tablets risks further cannibalizing the important PC market, making market outperformance less likely, in our view.”
Also under pressure were KLA-Tencor Corp. (KLAC) and FormFactor Inc. (FORM).
Novellus closed Monday at $34.06, falling $0.81, or 2.32 percent. NVIDIA closed at $17.32, dropping $0.23, or 1.31 percent. Cisco ended the day at $17.47, losing $0.18, or 1.02 percent.
The Nasdaq Composite Index (COMP) fell 0.3% to close at 2,771.5 as S&P said the tech sector “has recently begun exhibiting more lackluster relative performance as the global economic cycle matures.”
S&P added that “the surging popularity of tablets risks further cannibalizing the important PC market, making market outperformance less likely, in our view.”
Also under pressure were KLA-Tencor Corp. (KLAC) and FormFactor Inc. (FORM).
Novellus closed Monday at $34.06, falling $0.81, or 2.32 percent. NVIDIA closed at $17.32, dropping $0.23, or 1.31 percent. Cisco ended the day at $17.47, losing $0.18, or 1.02 percent.
Monday, March 28, 2011
Chips Pushing Novellus (NVLS), (NETL) (ALTR), (AMSL), (ADI), (LRCX) toward New Highs
Altera (NASDAQ:ALTR), ASML (NASDAQ:AMSL), Analog Devices (NYSE:ADI), Lam Research (NASDAQ:LRCX), NetLogic (NASDAQ:NETL) and Novellus (NASDAQ:NVLS) are all being pushed towards new highs, as VCs pour money into social networks, mobile connectivity, the Cloud and energy efficiency, demand for chips old and new is back, leading the electronic components and capital equipment sectors to a strong growth path. They were already turning back to the plus column last fall as a mild inventory adjustment was quickly bracketed.
Applied Materials (NASDAQ:AMAT) just concluded its annual analyst meeting in New York ringing a bullish note for the next several years’ outlook for highly sophisticated, ultra complex machines sold to Intel (NASDAQ:INTC), Samsung, TSMC and other global chipmakers. Echoing ASML CEO Eric Meurice’s remarks three weeks ago, Applied’s head said rising chip complexity, raw unit demand and a decade of underinvestment meant an above trend outlook for his company this year and next. After years of underperforming, such public confidence suggests something big is on the way at the world’s largest semiconductor equipment supplier.
Long lagging Micron Technology (NASDAQ:MU) just reported a couple of pennies in profit in its typically seasonally weak second fiscal quarter, notable because it’s the first time since the company’s magnificent 1990s run that it hasn’t lost money in the trough of the highly volatile dynamic random-access memory (DRAM) pricing cycle and also because it is now positioned to cash in on booming NAND Flash demand. The opposite of Wall Street’s purported glut, Apple’s iPad (NASDAQ:AAPL) refresh is elevating this newly ubiquitous form factor to Olympian proportion, drawing millions of new users into its Smartphone and PC ecosystems at the same time AT&T upgrades its network through a wireless carrier megadeal. Memory chips are one of the key winners.
Source
Applied Materials (NASDAQ:AMAT) just concluded its annual analyst meeting in New York ringing a bullish note for the next several years’ outlook for highly sophisticated, ultra complex machines sold to Intel (NASDAQ:INTC), Samsung, TSMC and other global chipmakers. Echoing ASML CEO Eric Meurice’s remarks three weeks ago, Applied’s head said rising chip complexity, raw unit demand and a decade of underinvestment meant an above trend outlook for his company this year and next. After years of underperforming, such public confidence suggests something big is on the way at the world’s largest semiconductor equipment supplier.
Long lagging Micron Technology (NASDAQ:MU) just reported a couple of pennies in profit in its typically seasonally weak second fiscal quarter, notable because it’s the first time since the company’s magnificent 1990s run that it hasn’t lost money in the trough of the highly volatile dynamic random-access memory (DRAM) pricing cycle and also because it is now positioned to cash in on booming NAND Flash demand. The opposite of Wall Street’s purported glut, Apple’s iPad (NASDAQ:AAPL) refresh is elevating this newly ubiquitous form factor to Olympian proportion, drawing millions of new users into its Smartphone and PC ecosystems at the same time AT&T upgrades its network through a wireless carrier megadeal. Memory chips are one of the key winners.
Source
Tuesday, February 1, 2011
Novellus Systems (Nasdaq:NVLS), Anadarko (NYSE:APC), Baidu (Nasdaq:BIDU) Active After Hours Trading
Novellus Systems (Nasdaq:NVLS), Anadarko (NYSE:APC) and Baidu (Nasdaq:BIDU) all were active in after hours trading, as each company reported their quarterly results Monday.
Novellus Systems' fourth-quarter profits were driven by ongoing demand for semiconductors, with profits more than doubling during the period. Semiconductor sales continue to be robust because of the strong personal-computer and laptop-computer demand as the adoption of Microsoft Corp's (NASDAQ:MSFT) Windows 7 software remains unabated. Shares rose 3.41 percent, to $37.30 in after-hours trading, as Novellus' bottom line was greater than its December estimate.
Anadarko Petroleum's fourth-quarter profit dropped 52% as the oil-and-gas producer reported higher derivative gains a year ago, while overall production and revenue increased during the latest quarter. Excluding items, Anadarko's bottom line, easily surpassed Wall Street's expectations, although top-line growth fell short of projections. Shares fell $0.83, or 1.08 percent, to $76.25 in after-hours trading.
Baidu's fourth-quarter revenue almost doubled, and its earnings more than doubled - as China's top Internet search engine posted results which exceeded analysts' estimates. The American depositary shares of the company were up 7.57 percent at $116.75 after hours.
Novellus Systems' fourth-quarter profits were driven by ongoing demand for semiconductors, with profits more than doubling during the period. Semiconductor sales continue to be robust because of the strong personal-computer and laptop-computer demand as the adoption of Microsoft Corp's (NASDAQ:MSFT) Windows 7 software remains unabated. Shares rose 3.41 percent, to $37.30 in after-hours trading, as Novellus' bottom line was greater than its December estimate.
Anadarko Petroleum's fourth-quarter profit dropped 52% as the oil-and-gas producer reported higher derivative gains a year ago, while overall production and revenue increased during the latest quarter. Excluding items, Anadarko's bottom line, easily surpassed Wall Street's expectations, although top-line growth fell short of projections. Shares fell $0.83, or 1.08 percent, to $76.25 in after-hours trading.
Baidu's fourth-quarter revenue almost doubled, and its earnings more than doubled - as China's top Internet search engine posted results which exceeded analysts' estimates. The American depositary shares of the company were up 7.57 percent at $116.75 after hours.
Friday, January 14, 2011
Novellus (NASDAQ:NVLS) Soaring on Better Comparable Multiples, Industry Fundamentals
Citing an impressive presentation at the Needham Growth Conference, Novellus (NASDAQ:NVLS) is being looked at in a more positive light than before.
Needham says, "Following the company’s presentation at the Needham Growth Conference, we came away incrementally more positive on NVLS. In conjunction with our conference recap note published today, we are updating our revenue and EPS estimates, and we raise our price target reflecting better industry fundamentals and expanding comparable multiples. Management remains optimistic on the long-term growth drivers for the industry and we believe the company is well positioned to leverage some of these drivers."
Needham & Company maintains a "Buy" rating on Novellus, which was trading at $36.34, gaining $3.53, or 10.76 percent, as of 1:19 PM EST. Needham boosted their price target on Novellus from $35 to $40.
Needham says, "Following the company’s presentation at the Needham Growth Conference, we came away incrementally more positive on NVLS. In conjunction with our conference recap note published today, we are updating our revenue and EPS estimates, and we raise our price target reflecting better industry fundamentals and expanding comparable multiples. Management remains optimistic on the long-term growth drivers for the industry and we believe the company is well positioned to leverage some of these drivers."
Needham & Company maintains a "Buy" rating on Novellus, which was trading at $36.34, gaining $3.53, or 10.76 percent, as of 1:19 PM EST. Needham boosted their price target on Novellus from $35 to $40.
Wednesday, December 8, 2010
Novellus (NASDAQ:NVLS) Spending in 2011 Should Increase
Novellus (NASDAQ:NVLS) is expected by Needham & Company to increase their spending in 2011, generating a positive short-term outlook from Needham on them.
Needham said, "We maintain our Buy on NVLS after the company tightened 4Q10 bookings, shipments and EPS guidance to the higher-end on its mid-quarter business update call. Management remains optimistic on the long-term growth drivers for the industry and painted a more positive picture on 1H11 given the stabilization in end market demand post October. The updated guidance gives us more confidence on our call that semi equipment spending will grow in 2011...We raise our 2010 and 2011 revenue/non-GAAP EPS estimates to $1,345B/$2.95 and $1,500/$3.47, respectively, based on improved order visibility and a higher gross margin assumption."
Needham & Company maintains a "Buy" rating on Novellus (NASDAQ:NVLS), which is trading at $32.42, up $0.65, or 2.05 percent, as of 2:51 PM EST. Needham raised their price target on them from $31 to $35.
Needham said, "We maintain our Buy on NVLS after the company tightened 4Q10 bookings, shipments and EPS guidance to the higher-end on its mid-quarter business update call. Management remains optimistic on the long-term growth drivers for the industry and painted a more positive picture on 1H11 given the stabilization in end market demand post October. The updated guidance gives us more confidence on our call that semi equipment spending will grow in 2011...We raise our 2010 and 2011 revenue/non-GAAP EPS estimates to $1,345B/$2.95 and $1,500/$3.47, respectively, based on improved order visibility and a higher gross margin assumption."
Needham & Company maintains a "Buy" rating on Novellus (NASDAQ:NVLS), which is trading at $32.42, up $0.65, or 2.05 percent, as of 2:51 PM EST. Needham raised their price target on them from $31 to $35.
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