Nova (NASDAQ:NVMI) Updates Q2 Earnings Guidance

Nova (NASDAQ:NVMIGet Free Report) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.27-1.42 for the period, compared to the consensus EPS estimate of $1.28. The company issued revenue guidance of $144-152 million, compared to the consensus revenue estimate of $140.60 million. Nova also updated its Q2 2024 guidance to 1.270-1.420 EPS.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Benchmark upped their target price on Nova from $187.00 to $215.00 and gave the company a buy rating in a research note on Friday. Bank of America raised their price objective on Nova from $190.00 to $220.00 and gave the stock a buy rating in a report on Friday. Evercore ISI started coverage on Nova in a report on Tuesday, April 16th. They issued an outperform rating and a $210.00 price objective on the stock. Finally, Needham & Company LLC restated a hold rating on shares of Nova in a report on Friday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $215.00.

View Our Latest Stock Analysis on NVMI

Nova Stock Performance

Shares of NASDAQ:NVMI traded up $0.36 during mid-day trading on Friday, hitting $193.50. 165,058 shares of the company traded hands, compared to its average volume of 214,461. The firm has a market cap of $5.55 billion, a P/E ratio of 44.59, a PEG ratio of 7.34 and a beta of 1.40. Nova has a 52-week low of $89.59 and a 52-week high of $198.71. The firm’s 50 day simple moving average is $176.02 and its 200 day simple moving average is $148.68.

Nova (NASDAQ:NVMIGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.29. The firm had revenue of $141.80 million during the quarter, compared to analyst estimates of $136.78 million. Nova had a return on equity of 20.51% and a net margin of 26.26%. Nova’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 EPS. Equities research analysts expect that Nova will post 5.01 EPS for the current fiscal year.

Nova Company Profile

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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.

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