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. The company serves various sectors of the integrated circuit manufacturing industry, including logic, foundries, and memory manufacturers, as well as process equipment manufacturers. Nova Ltd. was formerly known as Nova Measuring Instruments Ltd. and changed its name to Nova Ltd. in July 2021. The company was incorporated in 1993 and is headquartered in Rehovot, Israel.
Analyst Upgrades and Downgrades
Separately, Bank of America decreased their price objective on shares of Nova from $140.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, June 29th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Nova presently has a consensus rating of "Moderate Buy" and a consensus price target of $131.60.
Nova Trading Down 0.9 %
Shares of NVMI Stock traded down $1.03 during trading hours on Friday, hitting $107.62. 67,325 shares of the company were exchanged, compared to its average volume of 96,890. The firm has a fifty day simple moving average of $97.60 and a 200 day simple moving average of $103.50. Nova has a 52-week low of $81.63 and a 52-week high of $149.15. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 27.52, a P/E/G ratio of 3.12 and a beta of 1.27.
Nova (NASDAQ:NVMI - Get Rating) last issued its quarterly earnings results on Thursday, May 12th. The semiconductor company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.25. Nova had a net margin of 23.85% and a return on equity of 28.96%. The company had revenue of $134.00 million during the quarter, compared to analyst estimates of $126.76 million. During the same quarter last year, the business posted $0.62 EPS. Nova's quarterly revenue was up 59.3% compared to the same quarter last year. Sell-side analysts anticipate that Nova will post 4.28 EPS for the current year.