Concentric Capital Strategies LP Buys 9,944 Shares of Nova Ltd. (NASDAQ:NVMI)

Concentric Capital Strategies LP grew its stake in Nova Ltd. (NASDAQ:NVMI - Free Report) by 122.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,062 shares of the semiconductor company's stock after purchasing an additional 9,944 shares during the quarter. Concentric Capital Strategies LP owned about 0.06% of Nova worth $3,557,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in Nova by 253.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 35,327 shares of the semiconductor company's stock worth $7,360,000 after purchasing an additional 25,345 shares in the last quarter. SG Americas Securities LLC increased its holdings in Nova by 352.8% during the 4th quarter. SG Americas Securities LLC now owns 3,618 shares of the semiconductor company's stock worth $713,000 after purchasing an additional 2,819 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Nova by 1.0% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,169,625 shares of the semiconductor company's stock worth $230,358,000 after purchasing an additional 11,915 shares in the last quarter. Blue Trust Inc. increased its holdings in Nova by 21.6% during the 4th quarter. Blue Trust Inc. now owns 1,462 shares of the semiconductor company's stock worth $305,000 after purchasing an additional 260 shares in the last quarter. Finally, Swedbank AB bought a new position in Nova during the 4th quarter worth about $2,954,000. Institutional investors and hedge funds own 82.99% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NVMI shares. Benchmark lowered their target price on Nova from $295.00 to $280.00 and set a "buy" rating for the company in a report on Friday. Needham & Company LLC reiterated a "hold" rating on shares of Nova in a report on Friday, February 14th. Bank of America decreased their price objective on Nova from $310.00 to $248.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Cantor Fitzgerald decreased their price objective on Nova from $315.00 to $300.00 and set an "overweight" rating for the company in a report on Friday, March 14th. Finally, Citigroup reduced their price target on Nova from $290.00 to $280.00 and set a "buy" rating for the company in a report on Friday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $269.60.

Nova Stock Performance

Nova stock traded up $4.46 during midday trading on Tuesday, reaching $200.10. 108,498 shares of the company's stock were exchanged, compared to its average volume of 227,015. Nova Ltd. has a 52 week low of $154.00 and a 52 week high of $289.90. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 34.86, a P/E/G ratio of 2.55 and a beta of 1.66. The stock's 50-day simple moving average is $192.17 and its 200 day simple moving average is $207.21.

Nova (NASDAQ:NVMI - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.10. The firm had revenue of $213.36 million during the quarter, compared to the consensus estimate of $210.10 million. Nova had a net margin of 27.33% and a return on equity of 22.33%. The business's revenue for the quarter was up 50.5% compared to the same quarter last year. During the same period last year, the business posted $1.39 earnings per share. Research analysts forecast that Nova Ltd. will post 7.52 earnings per share for the current year.

About Nova

Nova Ltd. designs, develops, produces, and sells process control systems used in the manufacture of semiconductors in Israel, Taiwan, the United States, China, Korea, and internationally. Its product portfolio includes a set of metrology platforms for dimensional, films, and materials and chemical metrology measurements for process control for various semiconductor manufacturing process steps, including lithography, etch, chemical mechanical planarization, deposition, electrochemical plating, and advanced packaging.