Nova (NVMI) Set to Announce Earnings on Thursday

Nova (NASDAQ:NVMIGet Rating) is set to post its quarterly earnings results before the market opens on Thursday, August 4th. Analysts expect Nova to post earnings of $1.07 per share for the quarter. Nova has set its Q2 2022 guidance at $1.09-$1.23 EPS and its Q2 guidance at $1.09-1.23 EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Nova (NASDAQ:NVMIGet Rating) last announced its earnings results on Thursday, May 12th. The semiconductor company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.25. The firm had revenue of $134.00 million during the quarter, compared to analysts’ expectations of $126.76 million. Nova had a return on equity of 27.51% and a net margin of 23.53%. The business’s revenue was up 59.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS. On average, analysts expect Nova to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Nova Trading Up 4.0 %

NVMI stock opened at $104.10 on Thursday. The company has a market capitalization of $2.99 billion, a P/E ratio of 29.00, a PEG ratio of 2.96 and a beta of 1.24. The business has a 50 day simple moving average of $97.03 and a 200-day simple moving average of $105.24. Nova has a twelve month low of $81.63 and a twelve month high of $149.15.

Analyst Ratings Changes

Several research analysts have weighed in on NVMI shares. StockNews.com initiated coverage on Nova in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Bank of America lowered their target price on shares of Nova from $140.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.60.

Institutional Investors Weigh In On Nova

A number of institutional investors and hedge funds have recently bought and sold shares of NVMI. BNP Paribas Arbitrage SA boosted its stake in shares of Nova by 6.9% during the first quarter. BNP Paribas Arbitrage SA now owns 39,573 shares of the semiconductor company’s stock valued at $4,309,000 after acquiring an additional 2,552 shares during the last quarter. Walleye Capital LLC boosted its stake in shares of Nova by 554.4% during the 1st quarter. Walleye Capital LLC now owns 17,570 shares of the semiconductor company’s stock worth $1,913,000 after purchasing an additional 14,885 shares during the last quarter. Walleye Trading LLC raised its position in shares of Nova by 47.8% in the first quarter. Walleye Trading LLC now owns 4,183 shares of the semiconductor company’s stock valued at $455,000 after buying an additional 1,353 shares during the last quarter. Select Equity Group L.P. lifted its stake in shares of Nova by 10.1% during the first quarter. Select Equity Group L.P. now owns 7,991 shares of the semiconductor company’s stock valued at $870,000 after buying an additional 736 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its position in Nova by 55.2% during the first quarter. Dynamic Technology Lab Private Ltd now owns 5,928 shares of the semiconductor company’s stock worth $645,000 after acquiring an additional 2,109 shares during the last quarter. Hedge funds and other institutional investors own 78.65% of the company’s stock.

About Nova

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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.

Further Reading

Earnings History for Nova (NASDAQ:NVMI)

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