Adage Capital Partners GP L.L.C. Trims Stock Position in Nova Ltd. $NVMI

Key Points

• Adage Capital Partners GP L.L.C. sold 14,000 shares of Nova Ltd., reducing its stake by 8.8%, now holding approximately 145,197 shares valued at $26.76 million.
• Several hedge funds have recently altered their positions in Nova, with Polar Capital Holdings Plc increasing its stake by 504.5%, now owning 354,302 shares worth $69.78 million.
• Analysts have mixed views on Nova, with Bank of America raising its price target to $270 and maintaining a "buy" rating, while others have adjusted their ratings to "hold" or lowered target prices.

Adage Capital Partners GP L.L.C. decreased its stake in Nova Ltd. (NASDAQ:NVMI - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,197 shares of the semiconductor company's stock after selling 14,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.50% of Nova worth $26,764,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NVMI. ASR Vermogensbeheer N.V. acquired a new stake in shares of Nova in the first quarter valued at about $26,000. PNC Financial Services Group Inc. grew its position in shares of Nova by 7.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,269 shares of the semiconductor company's stock valued at $234,000 after purchasing an additional 87 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Nova in the fourth quarter valued at about $237,000. Janney Montgomery Scott LLC acquired a new stake in shares of Nova in the first quarter valued at about $239,000. Finally, XTX Topco Ltd acquired a new stake in shares of Nova in the first quarter valued at about $249,000. Institutional investors and hedge funds own 82.99% of the company's stock.

Nova Price Performance

NVMI traded down $0.08 on Wednesday, reaching $277.14. 47,319 shares of the company's stock were exchanged, compared to its average volume of 294,081. The stock has a market cap of $8.15 billion, a PE ratio of 37.80, a P/E/G ratio of 2.27 and a beta of 1.72. Nova Ltd. has a twelve month low of $153.99 and a twelve month high of $291.99. The stock's fifty day moving average price is $267.85 and its 200-day moving average price is $228.01.

Nova (NASDAQ:NVMI - Get Free Report) last issued its earnings results on Thursday, August 7th. The semiconductor company reported $2.20 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.15. Nova had a net margin of 29.10% and a return on equity of 24.36%. The company had revenue of $219.99 million for the quarter, compared to the consensus estimate of $214.95 million. During the same period in the previous year, the firm earned $1.61 earnings per share. Nova's quarterly revenue was up 40.2% compared to the same quarter last year. Nova has set its Q3 2025 guidance at 2.020-2.220 EPS. As a group, research analysts predict that Nova Ltd. will post 7.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NVMI has been the topic of several research reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price target (up from $250.00) on shares of Nova in a research note on Tuesday, June 24th. Wall Street Zen lowered shares of Nova from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Bank of America boosted their price target on shares of Nova from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $282.50.

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.