Nova (NASDAQ:NVMI) Issues Quarterly Earnings Results

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

Nova Trading Up 6.6 %

NASDAQ:NVMI traded up $11.97 during trading hours on Thursday, hitting $193.09. 159,520 shares of the company were exchanged, compared to its average volume of 165,233. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 45.23, a price-to-earnings-growth ratio of 6.76 and a beta of 1.40. Nova has a one year low of $89.59 and a one year high of $194.59. The company has a fifty day simple moving average of $175.42 and a 200 day simple moving average of $147.32.

Analyst Ratings Changes

Several research analysts have commented on NVMI shares. Evercore ISI began coverage on Nova in a research note on Tuesday, April 16th. They set an “outperform” rating and a $210.00 target price for the company. Benchmark upped their price objective on shares of Nova from $150.00 to $187.00 and gave the stock 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.