Bull of the Day: Nova (NVMI)
NVMINova .(NVMI) ZACKS·2024-09-09 18:20

I last wrote about Nova ((NVMI) as the Bull of the Day in August of last year when you could still buy shares for 120.IthoughtinvestorsshouldbuythoselevelsaheadofNVIDIA((NVDA)earningslaterinthemonth.Iwasright,butnotwithoutaSep−OctmarketswoonthattookNVMIsharesbackto120.I thought investors should buy those levels ahead of NVIDIA ((NVDA) earnings later in the month. I was right, but not without a Sep-Oct market swoon that took NVMI shares back to 90.Since then, Nova rode a wave of semiconductor market success all the way to 247,supportedbyitsdouble−digitsalesandprofitgrowth.Thisyear′stoplineconsensuscallsfor25247, supported by its double-digit sales and profit growth.This year's top line consensus calls for 25% growth to 647 million and th ...