NEW YORK (

TheStreet

) --

Novellus Systems

(Nasdaq:

NVLS

) hit a new 52-week high Friday as it traded at $40.24 compared with its previous 52-Week high of $40.23. Novellus Systems is changing hands at $40.24 with 1.2 million shares traded as of 1:21 p.m. ET. Average volume has been two million shares over the past 30 days.

Novellus Systems has a market cap of $3.4 billion and is part of the

technology

sector and

electronics

industry. Shares are up 20.1% year to date as of the close of trading on Thursday.

Novellus Systems, Inc., together with its subsidiaries, develops, manufactures, sells, and supports equipment used in the fabrication of integrated circuits. It operates in two segments, Semiconductor Group and Industrial Applications Group. The company has a P/E ratio of 12.6, below the average electronics industry P/E ratio of 13.6 and below the S&P 500 P/E ratio of 22.6.

TheStreet Ratings rates Novellus Systems as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full

Novellus Systems Ratings Report

.

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