Nova (NASDAQ:NVMI) Releases Quarterly Earnings Results, Beats Estimates By $0.29 EPS

Nova (NASDAQ:NVMI) announced its quarterly earnings results on Thursday. The semiconductor company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.29, Briefing.com reports. The business had revenue of $141.80 million for the quarter, compared to the consensus estimate of $136.78 million. Nova had a net margin of 26.32% and a return on equity of 20.55%. Nova’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the company posted $1.12 EPS. 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 5.8 %

Shares of Nova stock traded up $10.59 during trading hours on Thursday, reaching $191.71. 139,160 shares of the company’s stock were exchanged, compared to its average volume of 164,988. The stock has a market cap of $5.50 billion, a P/E ratio of 45.23, a P/E/G ratio of 6.76 and a beta of 1.40. The company has a 50 day moving average of $175.42 and a two-hundred day moving average of $147.32. Nova has a fifty-two week low of $89.59 and a fifty-two week high of $194.59.

Analyst Upgrades and Downgrades

NVMI has been the topic of several recent analyst reports. Benchmark lifted their target price on Nova from $150.00 to $187.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Evercore ISI began coverage on shares of Nova in a report on Tuesday, April 16th. They set an “outperform” rating and a $210.00 target price on the stock.

Nova Company Profile

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.