NEW YORK (

TheStreet

) --

Novellus Systems

(Nasdaq:

NVLS

) hit a new 52-week high Wednesday as it is currently trading at $48.07, above its previous 52-week high of $48.04 with 2.4 million shares traded as of 2:40 p.m. ET. Average volume has been 2.7 million shares over the past 30 days.

Novellus Systems has a market cap of $3.1 billion and is part of the

technology

sector and

electronics

industry. Shares are up 16.2% year to date as of the close of trading on Tuesday.

Novellus Systems, Inc., together with its subsidiaries, develops, manufactures, sells, and supports equipment used in the fabrication of integrated circuits. The company operates in two segments, Semiconductor Group and Industrial Applications Group. The company has a P/E ratio of 13.3, below the average electronics industry P/E ratio of 13.5 and below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Novellus Systems as a

buy

. The company's strengths can be seen in multiple areas, such as its solid stock price performance, notable return on equity, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full

Novellus Systems Ratings Report

.

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