Nova (NASDAQ: NVMI) -- formerly Nova Measuring Instruments -- is a small and little-known stock in the semiconductor industry. Despite stiff competition in metrology equipment, which is used in the manufacture of chips, Nova stock is up over 300% in the last five years, including a more than 30% gain so far in 2023.  

As chipmaking gets more complicated and expensive, metrology equipment has been a top trend. Is it too late to make an investment in Nova? 

Metrology (or the science of measurement) and process control equipment is a critical part of semiconductor manufacturing. Think of it as the quality control step when making chips, which is also integral for a silicon wafer and chip packaging company to maintain healthy levels of profitability on its processes. 

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Source Fool.com