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Nova Measuring Instruments Near Later-Stage Entry With Earnings Due

The semiconductor industry is scrambling to catch up with burgeoning demand. That means it needs more chipmaker gear. The trend benefits Nova Measuring Instruments, whose stock has already been on a tear, soaring nearly fourfold since hitting a coronavirus crash low at 25.70 in March last year. Thursday afternoon, Nova Measuring Instruments (NVMI) was trading at 96.81. Nova Measuring is forming a base with a 99.89 buy point. The company plans to announced it quarterly results before the market opens on May 6.




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Analysts expect earnings-per-share growth of 34% for the quarter, and 24% growth for the full year. Annual growth estimates for the small-cap tech company were recently revised higher.

Nova Measuring Profit Growth Eases

The company reported 8% earnings growth last quarter, to 55 cents per share. The prior three quarters it reported EPS growth of 27%, 50% and 43%. Israel-based Nova Measuring’s sales grew 18% in its most recent quarter, to $76.3 million.

Nova Measuring has an excellent 97 Composite Rating, of a possible 99. The Composite Rating contains a mix of five other IBD stock ratings. The best growth stocks have a Composite Rating of 90 or better.

Additionally, its B- Accumulation/Distribution Rating, on an A+ to E scale, indicates more funds and other large institutions are buying shares than selling.

And it holds the No. 12 rank among its peers in the Electronics-Semiconductor Equipment industry group, which ranks a lofty No. 15 on IBD’s list of 197 industry groups. Applied Materials (AMAT), ASML Hldgs (ASML) and Brooks Automation (BRKS) are among the top 5 highly rated stocks in the group.


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The current formation is a third-stage ascending base.

Understand that buying a stock just ahead of earnings involves risk since you typically don’t have enough time to establish a profit cushion before the latest quarterly numbers come out. Be sure to follow sound buy and sell rules to minimize your exposure.

Note: Dates for earnings reports are subject to change. Check the company’s website for any updates.

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