Nova (NASDAQ:NVMI – Get Free Report) updated its third quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.600-1.730 for the period, compared to the consensus EPS estimate of 1.390. The company issued revenue guidance of $168.0 million-$176.0 million, compared to the consensus revenue estimate of $152.8 million. Nova also updated its Q3 guidance to $1.60-1.73 EPS.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the company. Jefferies Financial Group started coverage on Nova in a report on Monday, May 13th. They set a buy rating and a $240.00 price objective on the stock. Needham & Company LLC reaffirmed a hold rating on shares of Nova in a report on Friday, May 10th. Bank of America raised their price target on shares of Nova from $190.00 to $220.00 and gave the stock a buy rating in a research report on Friday, May 10th. Benchmark raised their target price on shares of Nova from $215.00 to $240.00 and gave the company a buy rating in a report on Friday. Finally, Citigroup raised their target price on shares of Nova from $223.00 to $273.00 and gave the company a buy rating in a report on Monday, July 15th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $236.60.
Nova Stock Up 4.3 %
Nova (NASDAQ:NVMI – Get Free Report) last issued its earnings results on Thursday, May 9th. The semiconductor company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.29. Nova had a return on equity of 19.89% and a net margin of 26.26%. The business had revenue of $141.80 million during the quarter, compared to analyst estimates of $136.78 million. During the same quarter in the previous year, the firm earned $1.12 EPS. Nova’s revenue was up 7.3% on a year-over-year basis. As a group, equities analysts predict that Nova will post 4.79 EPS for the current fiscal year.
About Nova
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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