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Nova Ltd. (NVMI) Surges 5.3%: Is This an Indication of Further Gains?
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Nova Ltd. (NVMI - Free Report) shares ended the last trading session 5.3% higher at $170.61. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 28.3% loss over the past four weeks.
Nova Ltd. is benefiting from strong demand for its advanced metrology solutions driven by the semiconductor industry's transition to 3D architectures, AI-related growth, and advanced packaging technologies.
This maker of monitoring systems used in chip manufacturing is expected to post quarterly earnings of $2.08 per share in its upcoming report, which represents a year-over-year change of +49.6%. Revenues are expected to be $210.4 million, up 48.4% 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 been revised 0.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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. is a member of the Zacks Electronics - Semiconductors industry. One other stock in the same industry, Rambus (RMBS - Free Report) , finished the last trading session 3.8% higher at $44.76. RMBS has returned -21.4% over the past month.
For Rambus, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.55. This represents a change of +22.2% from what the company reported a year ago. Rambus currently has a Zacks Rank of #4 (Sell).
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Nova Ltd. (NVMI) Surges 5.3%: Is This an Indication of Further Gains?
Nova Ltd. (NVMI - Free Report) shares ended the last trading session 5.3% higher at $170.61. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 28.3% loss over the past four weeks.
Nova Ltd. is benefiting from strong demand for its advanced metrology solutions driven by the semiconductor industry's transition to 3D architectures, AI-related growth, and advanced packaging technologies.
This maker of monitoring systems used in chip manufacturing is expected to post quarterly earnings of $2.08 per share in its upcoming report, which represents a year-over-year change of +49.6%. Revenues are expected to be $210.4 million, up 48.4% 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 been revised 0.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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 #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Nova Ltd. is a member of the Zacks Electronics - Semiconductors industry. One other stock in the same industry, Rambus (RMBS - Free Report) , finished the last trading session 3.8% higher at $44.76. RMBS has returned -21.4% over the past month.
For Rambus, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.55. This represents a change of +22.2% from what the company reported a year ago. Rambus currently has a Zacks Rank of #4 (Sell).