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

Nova (NASDAQ:NVMI - Get Free Report) posted its quarterly earnings results on Thursday. The semiconductor company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.29, Briefing.com reports. The business 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%. Nova's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm 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

Shares of NASDAQ:NVMI traded up $12.02 during midday trading on Thursday, hitting $193.14. 456,499 shares of the stock were exchanged, compared to its average volume of 168,620. The business's 50-day moving average price is $175.42 and its 200 day moving average price is $147.32. Nova has a 12 month low of $89.59 and a 12 month high of $198.71. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 45.31, a P/E/G ratio of 6.76 and a beta of 1.40.

Wall Street Analysts Forecast Growth

NVMI has been the subject of several research analyst reports. Benchmark boosted their target price on Nova from $150.00 to $187.00 and gave the stock a "buy" rating in a research note on Friday, February 16th. Evercore ISI started 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.

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.