Nova Ltd
Israeli semiconductor metrology company providing advanced process control systems for semiconductor manufacturing, with major customers including TSMC, Samsung, and Intel
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Semiconductor metrology technology subject to export controls; critical position in advanced chip manufacturing supply chain creates potential dual-use concerns
NASDAQ/TASE listed (NVMI) with market cap ~$8B; record revenue of $853M trailing 12 months (Q3 2025); exposed to semiconductor cycle volatility and geopolitical tensions
B2B semiconductor supplier with low consumer visibility; primary exposure through major fab customer relationships (TSMC, Samsung, Intel) and semiconductor industry standards bodies
Critical metrology provider for advanced semiconductor nodes; deeply embedded in global chip manufacturing supply chains with high switching costs for customers
Product Alternatives
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Semiconductor Metrology & Process Control
Alternative suppliers of semiconductor metrology and inspection equipment without Israeli headquarters
US-based market leader in semiconductor process control with 55-60% market share in wafer inspection
US-headquartered (Milpitas, CA); market leader with broadest process control portfolio; higher switching costs but superior technology in most segments
US semiconductor equipment leader with metrology solutions including SemVision e-beam and VeritySEM
US-headquartered (Santa Clara, CA); comprehensive equipment portfolio enables integrated solutions; strong customer relationships across major fabs
Netherlands-based lithography leader with HMI e-beam inspection and YieldStar optical metrology
EU-headquartered (Netherlands); metrology tools integrate with lithography systems; strong presence at all major foundries
Comparison Legend
Strategic Analysis
In-depth assessment of the company's position, vulnerabilities, and recommended approaches for effective engagement.
High severity, lower vulnerability — requires long-term divestment pressure
Learn about our methodology — companies are categorised based on severity (harm potential) vs strategic vulnerability (campaign leverage).
Why do these scores change?
Unlike static boycott lists, our targeting model is dynamic. This company's position on the matrix is re-evaluated continually as we verify new contracts, divestments, or policy changes. Your reporting directly impacts this score.
Nova Ltd represents a strategic B2B divestment target as an Israeli-headquartered semiconductor metrology company with deep integration into global chip manufacturing supply chains. With trailing 12-month revenue of $853 million and customers including TSMC, Samsung, and Intel, Nova directly funds the Israeli economy while occupying a critical but substitutable position in semiconductor process control.
Key Leverage Points
- Major Customer Concentration: TSMC (~43%) and Samsung (~27%) historically represent the majority of revenue, creating concentrated pressure points for procurement review
- Institutional Investor Exposure: NASDAQ listing enables shareholder engagement and divestment campaigns through pension funds and ethical investment portfolios
- Competitive Market Position: KLA Corporation dominates with 55-60% market share, providing well-established alternatives for customers seeking to diversify suppliers
- Supply Chain Visibility: B2B position in semiconductor equipment creates opportunities for downstream pressure from chip consumers (tech companies, automakers)
Evidence Summary
Nova Ltd was founded in 1993 in Rehovot, Israel and maintains its headquarters and core R&D operations there. The company listed on NASDAQ in July 2000 and reports record financial performance with Q3 2025 revenue of $224.6 million (25% YoY growth) and trailing 12-month revenue of $853 million. SEC filings and corporate statements confirm Israeli operations contribute directly to the Israeli economy through corporate taxes, employment, and technology ecosystem development. Major fab customers including TSMC, Samsung, and Intel rely on Nova's metrology tools for advanced semiconductor manufacturing processes including Gate-All-Around (GAA) and 3D-NAND production.
Engagement Strategy
Prioritise institutional investor divestment campaigns targeting pension funds and ethical investment vehicles holding NVMI positions. Engage major semiconductor customers (TSMC, Samsung, Intel) through procurement due diligence requests emphasising supplier diversification and ESG compliance. Highlight established alternatives from KLA Corporation, Applied Materials, and ASML that offer equivalent or superior capabilities without Israeli complicity. Target downstream tech companies and automakers who rely on advanced semiconductors with supply chain transparency campaigns that trace equipment suppliers back to Israeli operations.
Evidence & Sources
Verified sources including NGO reports, regulatory filings, and primary documents. Use these to substantiate your correspondence.
Record quarterly revenue of $224.6M, 25% increase YoY; trailing 12-month revenue of $853M demonstrates significant scale of Israeli semiconductor operations
Open sourceLeading foundry selects Nova's metrology solution for Gate-All-Around manufacturing, demonstrating continued critical role in advanced semiconductor production
Open sourceConfirms Rehovot, Israel headquarters; describes company as 'leading innovator and key provider of metrology solutions' for semiconductor manufacturing
Open sourceQ1 2017 data showed TSMC at 43% of sales and Samsung at 27%, demonstrating deep integration into global semiconductor supply chains
Open sourceNova listed on NASDAQ (NVMI) in July 2000, raising international capital for Israeli semiconductor technology development
Open sourceUpdates & Milestones
- Record Financial Performance
Reports record quarterly revenue of $224.6M; expects 2025 to be record year with continued growth in 2026
- Company Rebranding
Rebrands from 'Nova Measuring Instruments' to 'Nova Ltd', reflecting expanded product portfolio
- Leadership Transition
Gabriel Waisman appointed CEO; Eitan Oppenhaim becomes Executive Chairman
- Ancosys Acquisition
Acquires Ancosys GmbH, expanding chemical metrology capabilities and European operations
- TSMC Direct Engagement
Begins direct partnerships with chip fabricators including TSMC, expanding beyond equipment intermediaries
- NASDAQ IPO
Lists on NASDAQ (NVMI), raising international capital for Israeli semiconductor technology development
- Intel Partnership
Intel Corporation becomes customer and investor, providing early validation and capital for Israeli operations
- Company Founded
Nova Measuring Instruments founded in Rehovot, Israel by Giora Dishon and Moshe Finarov, focusing on semiconductor metrology