Nova (NASDAQ:NVMI) Posts Quarterly Earnings Results, Beats Expectations By $0.29 EPS

Nova (NASDAQ:NVMI) issued its earnings results on Thursday. The semiconductor company reported $1.39 earnings per share for the quarter, beating 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 business had revenue of $141.80 million for the quarter, compared to analyst estimates of $136.78 million. During the same period in the previous year, the business earned $1.12 EPS. The firm’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 opened at $193.14 on Friday. Nova has a 52 week low of $89.59 and a 52 week high of $198.71. The company has a market capitalization of $5.54 billion, a PE ratio of 45.13, a PEG ratio of 6.76 and a beta of 1.40. The company has a 50 day moving average price of $175.82 and a two-hundred day moving average price of $147.64.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NVMI shares. Benchmark boosted their price target 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. Evercore ISI assumed coverage on shares of Nova in a research note on Tuesday, April 16th. They set an “outperform” rating and a $210.00 price target for the company.

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.