Nova Board Authorizes Share Repurchase Program

(RTTNews) - Nova (NVMI) said its board authorized a new share repurchase program providing for the repurchase of up to $200 million of the company's ordinary shares. The program will remain in effect until the authorized amount has been repurchased or the program is suspended or discontinued by the company.

Gaby Waisman, President and CEO of Nova, said: "Our primary capital allocation priority remains investing in our business and pursuing strategic acquisitions that strengthen our technology leadership, expand our addressable markets, and create long-term shareholder value. Supported by our strong balance sheet, we believe we are well positioned to execute these priorities while maintaining the flexibility to repurchase shares."

In pre-market trading on NasdaqGS, Nova shares are up 5.14 percent to $354.98.