Nova (NASDAQ:NVMI) Releases Q2 2022 Earnings Guidance

Nova (NASDAQ:NVMIGet Rating) updated its second quarter 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $1.09-$1.23 for the period, compared to the consensus earnings per share estimate of $1.04. The company issued revenue guidance of $133.00 million-$141.00 million, compared to the consensus revenue estimate of $128.86 million.

NVMI has been the topic of several research reports. Citigroup cut their price objective on shares of Nova from $146.00 to $142.00 and set a buy rating on the stock in a research report on Friday, February 25th. Zacks Investment Research upgraded shares of Nova from a sell rating to a buy rating and set a $113.00 price objective on the stock in a research note on Wednesday, April 27th. Needham & Company LLC reduced their price objective on shares of Nova from $150.00 to $130.00 and set a buy rating for the company in a research report on Friday, February 25th. Finally, StockNews.com assumed coverage on Nova in a report on Thursday, March 31st. They set a hold rating for the company. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Buy and an average price target of $132.71.

NASDAQ:NVMI opened at $106.86 on Thursday. The company has a fifty day moving average of $101.93 and a 200-day moving average of $115.83. Nova has a twelve month low of $90.38 and a twelve month high of $149.15. The firm has a market capitalization of $3.06 billion, a P/E ratio of 29.77, a P/E/G ratio of 2.73 and a beta of 1.19.

Nova (NASDAQ:NVMIGet Rating) last issued its quarterly earnings data 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 net margin of 23.53% and a return on equity of 27.51%. The business’s revenue was up 59.3% on a year-over-year basis. During the same period last year, the company earned $0.62 earnings per share. Equities research analysts anticipate that Nova will post 4.28 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of NVMI. BlackRock Inc. grew its holdings in shares of Nova by 554.3% in the first quarter. BlackRock Inc. now owns 42,844 shares of the semiconductor company’s stock valued at $4,664,000 after acquiring an additional 36,296 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Nova by 6.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 39,573 shares of the semiconductor company’s stock worth $4,309,000 after purchasing an additional 2,552 shares during the period. Walleye Capital LLC boosted its holdings in shares of Nova by 554.4% in the 1st quarter. Walleye Capital LLC now owns 17,570 shares of the semiconductor company’s stock worth $1,913,000 after buying an additional 14,885 shares during the last quarter. PDT Partners LLC grew its position in Nova by 22.0% during the first quarter. PDT Partners LLC now owns 15,500 shares of the semiconductor company’s stock valued at $1,688,000 after buying an additional 2,800 shares during the period. Finally, Citigroup Inc. increased its holdings in Nova by 14.3% during the first quarter. Citigroup Inc. now owns 10,293 shares of the semiconductor company’s stock worth $1,120,000 after buying an additional 1,287 shares during the last quarter. 78.65% of the stock is owned by institutional investors and hedge funds.

About Nova (Get Rating)

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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