Deutsche Bank Maintains Hold Rating On Novellus Systems (NVLS)

Novellus Systems NVLS reported its quarterly earnings yesterday after the closing bell. The company earned $0.66 per share compared to estimates of $0.60. In a research report released today, Deutsche Bank analysts said that they are maintaining their Hold rating on the stock and $25 price target. They said that "we believe that a slowing bookings growth rate will limit near-term upsides to the stock." In addition to reporting earnings, the company also announced it had bought back approximately 4.4 million shares during 2Q. During today's trading session, NVLS has gained 4.19% to $27.83. Year-to-date, the stock has jumped over 19%.