Nova (NASDAQ:NVMI) Announces Earnings Results, Misses Estimates By $0.04 EPS

Nova (NASDAQ:NVMI) released its quarterly earnings results on Thursday. The semiconductor company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.04), Zacks reports. Nova had a net margin of 28.00% and a return on equity of 21.35%.

Nova Trading Up 6.9 %

Nova stock traded up $16.93 during mid-day trading on Thursday, hitting $262.36. The company had a trading volume of 181,593 shares, compared to its average volume of 222,179. Nova has a 12 month low of $154.54 and a 12 month high of $289.90. The stock’s 50 day moving average price is $219.90 and its two-hundred day moving average price is $206.68. The company has a market capitalization of $7.62 billion, a PE ratio of 48.60, a price-to-earnings-growth ratio of 2.07 and a beta of 1.44.

Analyst Upgrades and Downgrades

NVMI has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Nova in a report on Friday, November 8th. Cantor Fitzgerald started coverage on shares of Nova in a research note on Monday, January 13th. They issued an “overweight” rating and a $275.00 price target for the company. Benchmark lifted their price objective on Nova from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Citigroup raised Nova from a “neutral” rating to a “buy” rating and increased their target price for the stock from $226.00 to $240.00 in a research report on Monday, January 6th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $238.33.

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.