Needham & Company Maintains a 'Buy' on Novellus (NVLS); EPS In-line, Revs Beat
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Price: $2.40 --0%
Rating Summary:
1 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
Rating Summary:
1 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
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Needham & Company maintains a 'Buy' on Novellus (NASDAQ: NVLS) price target of $56.25.
Analyst, Y. Edwin Mok, said, "Due to the pending acquisition by Lam Research (Nasdaq: LRCX) (Buy), NVLS only reported F1Q12 (Mar) results in a press release and did not provide any forward guidance or host a conference call. 1Q12 earnings came in above Street estimates, but higher than expected OPEX kept EPS in line. Commentary suggests LRCX believes the merger will likely close after winning the last regulatory approval from China, likely around the May 10th shareholder vote."
"Based on upside to bookings we raise our FY2012 revenue estimate from $1.37B to $1.38B but cut our EPS estimate from $3.08 to $3.03. Our FY2013 estimates increase from $1.46B/$3.40 to $1.48B/$3.58."
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 $47.03 yesterday.
Analyst, Y. Edwin Mok, said, "Due to the pending acquisition by Lam Research (Nasdaq: LRCX) (Buy), NVLS only reported F1Q12 (Mar) results in a press release and did not provide any forward guidance or host a conference call. 1Q12 earnings came in above Street estimates, but higher than expected OPEX kept EPS in line. Commentary suggests LRCX believes the merger will likely close after winning the last regulatory approval from China, likely around the May 10th shareholder vote."
"Based on upside to bookings we raise our FY2012 revenue estimate from $1.37B to $1.38B but cut our EPS estimate from $3.08 to $3.03. Our FY2013 estimates increase from $1.46B/$3.40 to $1.48B/$3.58."
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 $47.03 yesterday.
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