Nova explains why it has been one of the best stocks in recent years – global markets

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Nova
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Nova


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Reports preliminary results in which it records highs and beats analysts’ forecasts of about $ 70 million in the third quarter. The company that also trades on Wall Street


Nova (US)
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Nova (US)


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She already had a foot and a half in the grave more than a decade ago and traded at tens of cents – close to $ 1. It has since increased 100-fold in parallel with the development of optical measurement systems for use in the semiconductor industry and alongside acquisitions of complementary technologies. The company is valued at $ 1.6 billion and is one of the largest Israeli companies in Tel Aviv and Wall Street.

The jump in Nova’s business and stock is over the years – in the last year the stock has doubled 2. In the last four years the stock has jumped 5. In the last ten years it has risen 11. Quietly, it has quietly become one of the great Israelis. By the way, Nova is a product of technology that came out of Orbotech and a scientist who founded and managed it for years under the name Dr. Giora Dishon (Goat in 2006 after 13 years). Dishon received a lot of exit offers, but chose to keep it a local company. In the meantime, it turns out he was right, but Nova is still getting offers. So not sure you will see the same independent company later on.

Nova stock development over the past three years


And return to forecasts for the coming quarter and for the entire year. As mentioned, Nova raised its forecast for the quarter. According to market forecasts, 2020 is expected to be a record year for sales to the company, with over $ 250 million. The whole forecast is likely to rise as well. The market, by the way, is not surprised – Nova shares are actually falling after the announcement. The market has already embodied a good forecast in the stock price.

According to the initial results published by the company’s management, it expects that the company’s revenues and profits will exceed the early forecasts published. Revenue The third quarter of 2020 is expected to be at a record level, in the range of $ 68 to $ 70 million, above the previously announced forecast range of $ 58 million to $ 66 million in revenue. Earnings per share on a non-GAAP basis It is expected to be in the range of $ 0.51 to $ 0.56, above the previously announced range of earnings per share of $ 0.34 to $ 0.47.

The semiconductor industry in which the company operates reveals immunity in the atmosphere created in light of an increase in demand for chips mainly due to moving from work from home. The need to expand Internet infrastructure, strengthen cellular networks for data (G5), the growth in data centers and the growth of video applications support the growth in demand for complex semiconductor components that form the core of demand for the company’s products.

In light of the company’s positive momentum and in order to enable the company to implement the strategic growth plan in the coming years (an important component of which is expansion through mergers and technological acquisitions), the company is issuing a convertible bond of approximately $ 150 million. Lead the process.

The bond conversion is expected to take place when the company reaches a value of about $ 2 billion, when just a year ago the market value of the company on the stock exchange was about $ 1 billion (currently the value is $ 1.5 billion). .

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    13/10/2020
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