Nissay Asset Management Corp Japan purchased a new position in Nova Ltd. (NASDAQ:NVMI - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,074 shares of the semiconductor company's stock, valued at approximately $6,013,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Phoenix Financial Ltd. boosted its position in shares of Nova by 286.3% in the fourth quarter. Phoenix Financial Ltd. now owns 508,641 shares of the semiconductor company's stock worth $167,115,000 after acquiring an additional 376,974 shares during the last quarter. Legal & General Group Plc increased its position in Nova by 19.1% during the fourth quarter. Legal & General Group Plc now owns 145,427 shares of the semiconductor company's stock worth $48,642,000 after purchasing an additional 23,280 shares during the last quarter. Mizuho Markets Americas LLC purchased a new position in Nova during the fourth quarter worth approximately $14,056,000. Hsbc Holdings PLC raised its stake in Nova by 94.3% during the fourth quarter. Hsbc Holdings PLC now owns 27,115 shares of the semiconductor company's stock worth $9,077,000 after purchasing an additional 13,160 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in shares of Nova by 51.1% in the 1st quarter. Cetera Investment Advisers now owns 14,332 shares of the semiconductor company's stock valued at $6,224,000 after purchasing an additional 4,844 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on NVMI. Wall Street Zen raised shares of Nova from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $600.00 target price on shares of Nova in a research report on Thursday, August 6th. Cantor Fitzgerald reduced their target price on Nova from $600.00 to $500.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. Citigroup lowered their price target on Nova from $595.00 to $550.00 and set a "buy" rating for the company in a research report on Monday, August 10th. Finally, Morgan Stanley upped their price target on Nova from $494.00 to $540.00 and gave the stock an "equal weight" rating in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Nova presently has an average rating of "Moderate Buy" and an average price target of $514.44.
Check Out Our Latest Stock Analysis on NVMI
Insider Buying and Selling
In other news, CEO Gabriel Waisman sold 2,966 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $501.30, for a total value of $1,486,855.80. Following the completion of the sale, the chief executive officer owned 28,714 shares in the company, valued at approximately $14,394,328.20. This trade represents a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sarit Sagiv sold 454 shares of the firm's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $536.52, for a total value of $243,580.08. Following the sale, the director owned 1,951 shares in the company, valued at approximately $1,046,750.52. The trade was a 18.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 5,442 shares of company stock worth $2,905,622. Company insiders own 1.00% of the company's stock.
Nova Stock Performance
Shares of NVMI stock opened at $349.06 on Monday. The company's fifty day simple moving average is $435.07 and its 200-day simple moving average is $468.22. Nova Ltd. has a 52 week low of $232.73 and a 52 week high of $615.99. The company has a market cap of $11.09 billion, a PE ratio of 43.20, a P/E/G ratio of 2.02 and a beta of 1.78.
Nova (NASDAQ:NVMI - Get Free Report) last posted its earnings results on Friday, August 7th. The semiconductor company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.10. Nova had a net margin of 28.84% and a return on equity of 21.41%. The business had revenue of $254.96 million for the quarter, compared to analyst estimates of $250.33 million. During the same quarter in the previous year, the business posted $2.20 EPS. The business's quarterly revenue was up 15.9% on a year-over-year basis. Equities research analysts expect that Nova Ltd. will post 9.89 EPS for the current fiscal year.
Nova Profile
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Free Report)
Nova Measuring Instruments Ltd NASDAQ: NVMI develops and supplies advanced metrology and process control systems for the semiconductor manufacturing industry. The company's core product line includes spectroscopic ellipsometry and scatterometry tools designed to measure film thickness, critical dimensions, overlay alignment and other key parameters that drive yield and performance in integrated circuit fabrication.
Founded in 1993 and headquartered in Rehovot, Israel, Nova Measuring Instruments has established itself as a critical partner to leading semiconductor foundries and device manufacturers.
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