Shares of Novellus hit a 52-week high Tuesday of $50.39. The stock's 52-week low of $25.95 was set on Oct. 4.Novellus shares trade at a forward P/E of 15.04X; the average for semiconductor companies is 15.87X. For comparison, Advanced Micro Devices (AMD) has a lower forward P/E of 9.99X. Ten of the 16 analysts who cover Novellus rated it hold; six analysts gave the stock a buy rating. TheStreet Ratings gives Novellus a B grade with a buy rating and $62.59 price target. The stock has risen 22.23% year to date.
EMC Shares of EMC hit a 52-week high Tuesday of $29.79. The stock's 52-week low of $19.84 was set on Aug. 18. EMC shares trade at a forward P/E of 15.01; the average for computer hardware companies is 16.22. For comparison, Hewlett-Packard (HPQ) and Dell (DELL) have lower forward P/Es of 5.38 and 7.49, respectively. TheStreet Ratings gives EMC an A grade with a buy rating and $33.65 price target. The stock has risen 37.98% year to date. Analyst comment: "Following a detailed bottom up and top down analysis of EMC's Information Storage segment (74% of revenue in 2011), we raise our revenue estimates for the segment by 3%/4% for 2012/2013," Credit Suisse analysts wrote in a March 22 report. "This drives our EPS to $1.82/$2.17 (5%/10% above consensus). We see mid-to-high teens EPS growth as sustainable for several years, and note that this provides line of sight toward EPS of $3 in 2015. EMC remains a preferred IT hardware pick as our new $35 TP suggests 20% upside."
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