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Strength Seen in Nova Ltd. (NVMI): Can Its 4.0% Jump Turn into More Strength?
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Nova Ltd. (NVMI - Free Report) shares rallied 4% in the last trading session to close at $137.71. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.2% gain over the past four weeks.
Upswing in share price came after the company introducted its second-generation Nova Metrion system which represents a significant advancement in the semiconductor manufacturing industry. The enhanced features such as increased sensitivity, enhanced charge compensation and improved dopant uniformity control cater to the industry's push towards more complex and miniaturized devices. Given that the semiconductor sector is highly competitive and driven by technological innovation, the ability to provide in-line composition profiling capabilities could be a game-changer for Nova, potentially increasing its market share and strengthening customer loyalty.
This maker of monitoring systems used in chip manufacturing is expected to post quarterly earnings of $1.24 per share in its upcoming report, which represents a year-over-year change of -3.1%. Revenues are expected to be $128 million, down 15.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Nova Ltd., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NVMI going forward to see if this recent jump can turn into more strength down the road.
Nova Ltd. belongs to the Zacks Electronics - Semiconductors industry. Another stock from the same industry, indie Semiconductor, Inc. (INDI - Free Report) , closed the last trading session 3.2% higher at $6.85. Over the past month, INDI has returned -15.4%.
indie Semiconductor, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.01. Compared to the company's year-ago EPS, this represents a change of +90%. indie Semiconductor, Inc. currently boasts a Zacks Rank of #3 (Hold).
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Strength Seen in Nova Ltd. (NVMI): Can Its 4.0% Jump Turn into More Strength?
Nova Ltd. (NVMI - Free Report) shares rallied 4% in the last trading session to close at $137.71. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.2% gain over the past four weeks.
Upswing in share price came after the company introducted its second-generation Nova Metrion system which represents a significant advancement in the semiconductor manufacturing industry. The enhanced features such as increased sensitivity, enhanced charge compensation and improved dopant uniformity control cater to the industry's push towards more complex and miniaturized devices. Given that the semiconductor sector is highly competitive and driven by technological innovation, the ability to provide in-line composition profiling capabilities could be a game-changer for Nova, potentially increasing its market share and strengthening customer loyalty.
This maker of monitoring systems used in chip manufacturing is expected to post quarterly earnings of $1.24 per share in its upcoming report, which represents a year-over-year change of -3.1%. Revenues are expected to be $128 million, down 15.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Nova Ltd., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NVMI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Nova Ltd. belongs to the Zacks Electronics - Semiconductors industry. Another stock from the same industry, indie Semiconductor, Inc. (INDI - Free Report) , closed the last trading session 3.2% higher at $6.85. Over the past month, INDI has returned -15.4%.
indie Semiconductor, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.01. Compared to the company's year-ago EPS, this represents a change of +90%. indie Semiconductor, Inc. currently boasts a Zacks Rank of #3 (Hold).