Nova (NASDAQ:NVMI) Announces Earnings Results

Nova (NASDAQ:NVMI) issued its earnings results on Thursday. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.29, Briefing.com reports. Nova had a net margin of 26.32% and a return on equity of 20.55%. The firm had revenue of $141.80 million for the quarter, compared to the consensus estimate of $136.78 million. During the same quarter in the prior year, the firm posted $1.12 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. Nova updated its Q2 guidance to $1.27-1.42 EPS and its Q2 2024 guidance to 1.270-1.420 EPS.

Nova Stock Performance

Shares of NASDAQ NVMI traded up $10.59 during trading on Thursday, hitting $191.71. The company had a trading volume of 139,160 shares, compared to its average volume of 164,988. Nova has a 12 month low of $89.59 and a 12 month high of $194.59. The stock has a 50 day simple moving average of $175.42 and a 200 day simple moving average of $147.32. The firm has a market capitalization of $5.50 billion, a P/E ratio of 45.23, a price-to-earnings-growth ratio of 6.76 and a beta of 1.40.

Analysts Set New Price Targets

Several research firms recently commented on NVMI. Evercore ISI started coverage on Nova in a research report on Tuesday, April 16th. They set an “outperform” rating and a $210.00 price objective on the stock. Benchmark increased their price objective on shares of Nova from $150.00 to $187.00 and gave the company a “buy” rating in a research report on Friday, February 16th.

About Nova

Nova Ltd. designs, develops, produces, and sells process control systems used in the manufacture of semiconductors in Israel, Taiwan, the United States, China, Korea, and internationally. Its product portfolio includes a set of metrology platforms for dimensional, films, and materials and chemical metrology measurements for process control for various semiconductor manufacturing process steps, including lithography, etch, chemical mechanical planarization, deposition, electrochemical plating, and advanced packaging.