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

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

Nova stock traded up $11.97 during midday trading on Thursday, reaching $193.09. The company’s stock had a trading volume of 159,520 shares, compared to its average volume of 165,233. The firm has a market capitalization of $5.54 billion, a PE ratio of 45.23, a P/E/G ratio of 6.76 and a beta of 1.40. Nova has a fifty-two week low of $89.59 and a fifty-two week high of $194.59. The stock’s 50 day simple moving average is $175.42 and its 200 day simple moving average is $147.32.

Analyst Ratings Changes

Several brokerages have recently weighed in on NVMI. Evercore ISI started coverage on shares of Nova in a report on Tuesday, April 16th. They issued an “outperform” rating and a $210.00 target price on the stock. Benchmark raised 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.