newratings.com  Jan 4  Comment 
WASHINGTON (dpa-AFX) - Shares of Nivalis Therapeutics (NVLS) have shown a strong move to the upside during trading on Wednesday, with the pharmaceutical company jumping by 9.6 percent. The gain by Nivalis comes after the company said its Board...
Benzinga  Jan 3  Comment 
Nivalis Therapeutics Inc (NASDAQ: NVLS) shares are trading higher by $0.02 at $2.26 in Tuesday's session. The issue has been slow to recover from its beatdown on November 29. On that day, it declined from its previous close of $6.25 to $2.57...
Benzinga  Nov 29  Comment 
At a time when Nivalis Therapeutics Inc (NASDAQ: NVLS) is being thrashed with multiple downgrades, H.C. Wainwright maintains its Buy rating, despite the announcement of a trial miss. Trial Miss And Share Reaction Shares of Nivalis plunged to a...
newratings.com  Nov 29  Comment 
PARIS (dpa-AFX) - Shares of Advanced Accelerator Applications S.A. (AAAP) were down more than 10% on Monday as the company announced that the FDA decision on its experimental drug Lutathera originally scheduled for December 28, 2016, is unlikely...
Benzinga  Apr 18  Comment 
Nivalis Therapeutics Inc (NASDAQ: NVLS) hired David Rodman as its chief medical officer and executive vice president of discovery. Until recently, he was the CMO and EVP of R&D at miRagen Therapeutics. Nivalis Therapeutics indicated Rodman...
newratings.com  Jan 19  Comment 
WASHINGTON (dpa-AFX) - Shares of Eleven Biotherapeutics Inc. (EBIO) are set to take a beating on Tuesday, following failure of the company's phase III clinical trial of its lead drug candidate, Isunakinra (EBI-005), for the treatment of...
newratings.com  Jun 17  Comment 
WASHINGTON (dpa-AFX) - Nivalis Therapeutics Inc. (NVLS), a clinical stage pharmaceutical company focused on treating people with cystic fibrosis, announced that it has priced its initial public offering of 5.5 million shares of its common stock at...
Agoracom  Oct 17  Comment 
Welcome to Beyond The Press Release, a production of AGORACOM in which we speak to Small Cap CEOs and executives about their recent press releases. With us today is Dr. Chris D’Couto President of Neah Power Systems. Neah Power Systems is a...
Forbes  May 13  Comment 
This article is by Richard S. Hill, the chairman and interim chief executive of Tessera, a designer of semiconductor miniaturization technologies. He previously served as CEO of Novellus.


Novellus Systems, Inc. (NVLS) is organized into two large segments: the semiconductor group and the industrial applications group. The semiconductor group manufactures, sells and supports equipment used in the fabrication of integrated circuits and semiconductors. The industrial applications group develops, manufactures, sells and supports grinding, lapping and polishing equipment for optimization and serves a range of industrial applications.[1] Due to the cyclicality of the semiconductor industry, all of the semiconductor industry companies including NVLS is highly prone to the macroeconomic landscape.

Business Growth

Novellus, due to its industry focus on semiconductors, is prone to dramatic changes in demand based on the global economic standing. The company rebounded from a recession low of $632.9 million in 2009 revenue to $1.3 billion in revenue in 2010.[2]. However, net income has stagnated due to the natural decline in prices of semiconductors and chipsets.[2]

Key Trends and Forces

Dependence on Asia

NVLS, along with the majority of the semiconductor industry, depend on the business and resources of Asia. China provides nearly half of Novellus's revenues[3]. Many semiconductor companies have a strong presence in Asia since being well developed in China could prove prudent considering China's growth.

Threat from Semiconductor Cyclicality

NVLS's performance is tied to the ups and downs of the semiconductor industry, an industry that is notoriously cyclical. The semiconductor industry is affected by the fluctuating demand for PCs and cell phones, and by the rest of the electronics market. The demand in up cycles is so high that the chip manufacturers can't keep up. Similarly, if electronic sales, particularly PC sales, are slow, demand for chips can plummet. The semiconductor industry is at the whim of consumer demand more than corporate demand. This fact also adds to volatility in demand. If semiconductor companies anticipate a downturn in the industry then NVLS will likely feel the pressure from capital expenditure cutbacks.


Novellus's main competitors are:

Due to the inherent nature of the industry, competition is very intense. Fabrication labs are forced to cut costs as efficiently as possible to ensure the sustainability of their sales and net income.


  1. Reuters: Company Profile - NVLS
  2. 2.0 2.1 Wikinvest SEC Files: NVLS 2010 10-K, Item 6
  3. Wikinvest SEC Files: NVLS 2010 10-K, Item 8 Note 19
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