Chart Of The Day: Nova - Process Control Systems -

Chart Of The Day: Nova – Process Control Systems

Jun 07, 2024Jeremy ParkinsonFinance0

Image Source: Pixabay
The Chart of the Day belongs to the process control system company Nova (NVMI). I found the stock by using Barchart’s powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 5/7 the stock gained 19.82%. NVMI Price vs Daily Moving AveragesNova 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. The company serves various sectors of the integrated circuit manufacturing industry, including logic, foundries, and memory manufacturers, as well as process equipment manufacturers. Nova Ltd. was formerly known as Nova Measuring Instruments Ltd. and changed its name to Nova Ltd. in July 2021. Nova Ltd. was incorporated in 1993 and is headquartered in Rehovot, IsraelOpinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:

100% technical buy signals

108.88+ Weighted Alpha

92.30% gain in the last year

Trend Seeker buy signal

Above its 20, 50 and 100-day moving averages

11 new highs and up 20.76% in the last month

Relative Strength Index 67.19%

Technical support level at $211.70

Recently traded at $218.17 with 50-day moving average of $186.97

Fundamental Factors:

Market Cap $3.65 billion

P/E 45.93

Revenue expected to grow 16.00% this year and another 15.70% next year

Earnings estimated to increase 14.80% this year, an additional 17.70% next year and continue to compound at an annual rate of 14.40% for the next 5 years

Analysts and Investor Sentiment — I don’t buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it’s hard to make money swimming against the tide:

Wall Street analysts issued 5 strong buy, and 1 hold recommendation

Analysts have price targets between $110 and $245 with a consensus of $228

Value Line rates the stock an average rating of 3

CFRAs MarketScope has a hold rating

MorningStar gives the stock an average 3 star rating with a Fair Value of $214.39 right at Fair Value

4,780 investors monitor the stock on Seeking Alpha

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