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Technology Stocks : Novellus -- Ignore unavailable to you. Want to Upgrade?

To: BWAC who wrote (3052)	11/23/2000 12:55:04 AM
From: Alan Gallaspy	Read Replies (1) \| Respond to of 3813

We have tossed around the notion that they might buy a CMP outfit like SpeedFam. I believe that one of the Novellus top execs (CFO?) sits on the SFAM board. A stock buy back would be kind of nice about now. Of course, they may want to actually expand their business and that would cost extra money for land, buildings, stuff to put in buildings, people's salaries, etc.

To: BWAC who wrote (3052)	11/30/2000 4:56:04 AM
From: Wes	Read Replies (2) \| Respond to of 3813

The VALUE of NVLS: NVLS is at $26 (in afterhours Wednesday). It's book value is about $12 Trailing PE of 15 (granted, 2000 was especially strong) Seems like reasonable valuation...but wait, there's more: As one threader mentioned, it has about $8/share in cash (just over $1.1 billion!!!). The CEO talked about expanding the company's business by acquiring other companies. Now with semi-equip beaten up over the last few months, and with $1 billion in cash, NVLS stands to really benefit from this bear market. Now let's assume the worst case scenario: the economy hits a hard landing, and semi-equip orders from 2001 fall off a cliff. Hey, NVLS has that big reserve of cash, which would enable it to get through the tough times in a more healthy way. PLUS, the company can follow through with its strategy of acquisitions at dirt cheap valuations!!! Again, this scenario may actually be beneficial to NVLS in the long run!!! Yes, beneficial!!! It seems that in the long run, NVLS can emerge to become a really commanding company in the industry. Comments?