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

Nova (NASDAQ:NVMI) released its quarterly earnings data on Thursday. The semiconductor company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate 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 Price Performance

Shares of NASDAQ:NVMI traded up $16.93 during trading on Thursday, hitting $262.36. 181,593 shares of the company’s stock were exchanged, compared to its average volume of 222,179. Nova has a 52-week low of $154.54 and a 52-week high of $289.90. The business’s 50-day simple moving average is $219.90 and its 200 day simple moving average is $206.68. The company has a market cap of $7.62 billion, a price-to-earnings ratio of 48.60, a PEG ratio of 2.07 and a beta of 1.44.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NVMI shares. Cantor Fitzgerald began coverage on Nova in a report on Monday, January 13th. They issued an “overweight” rating and a $275.00 price objective for the company. Needham & Company LLC restated a “hold” rating on shares of Nova in a research report on Friday, November 8th. Citigroup raised shares of Nova from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $226.00 to $240.00 in a research report on Monday, January 6th. Finally, Benchmark raised their price target on Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.