UBS Maintains a 'Neutral' on Novellus (NVLS); Strong Deposition Business is Rewarded
Tweet
Share
E-mailGet Alerts NVLS Hot Sheet
Price: $2.40 --0%
Rating Summary:
1 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
UBS maintains a 'Neutral' on Novellus (NASDAQ: NVLS) price target raised from $34 to $44.
UBS analyst says, "We believe Lam Research’s (Nasdaq: LRCX) $3.3B all stock bid for Novellus today reflects Novellus’ solid technology development in deposition and dry strip equipment. We note this acquisition will be complimentary for Lam, as it currently serves the etch and clean equipment markets."
"With key inflection points, such as the transition to 450mm wafers, on the horizon, we view the acquisition positively for Novellus as it likely benefits from Lam’s complimentary customer relationships and products and deep technical knowledge. By providing a single face to customers, Novellus will likely benefit from additional exposure to customers such as Toshiba, which we estimate has historically accounted for 11% of Lam’s total sales."
For an analyst ratings summary and ratings history on Novellus click here. For more ratings news on Novellus click here.
Shares of Novellus closed at $34.70 yesterday.
UBS analyst says, "We believe Lam Research’s (Nasdaq: LRCX) $3.3B all stock bid for Novellus today reflects Novellus’ solid technology development in deposition and dry strip equipment. We note this acquisition will be complimentary for Lam, as it currently serves the etch and clean equipment markets."
"With key inflection points, such as the transition to 450mm wafers, on the horizon, we view the acquisition positively for Novellus as it likely benefits from Lam’s complimentary customer relationships and products and deep technical knowledge. By providing a single face to customers, Novellus will likely benefit from additional exposure to customers such as Toshiba, which we estimate has historically accounted for 11% of Lam’s total sales."
For an analyst ratings summary and ratings history on Novellus click here. For more ratings news on Novellus click here.
Shares of Novellus closed at $34.70 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Fiserv (FISV) PT Lowered to $60 at Freedom Broker
- Powell Industries (POWL) PT Lowered to $235 at Cantor Fitzgerald
- Lam Research plans $3B R&D expansion over five years
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
UBSSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
