Assenagon Asset Management S.A. Sells 63,454 Shares of Nova Ltd. $NVMI

Key Points

• Assenagon Asset Management cut its Nova stake by 69.8% in the second quarter, selling 63,454 shares and retaining 27,501 shares worth approximately $14.5 million. Institutional investors and hedge funds collectively own 82.99% of the company.
• Nova insiders have also been selling shares, including CEO Gabriel Waisman’s $1.49 million transaction. Insiders sold 7,798 shares worth $4.13 million over the past three months.
• Despite Nova’s stock opening at $384.80 and analyst target revisions, the company exceeded quarterly expectations with EPS of $2.51 and revenue of $254.96 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $514.44.

Assenagon Asset Management S.A. decreased its holdings in Nova Ltd. (NASDAQ:NVMI - Free Report) by 69.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,501 shares of the semiconductor company's stock after selling 63,454 shares during the period. Assenagon Asset Management S.A. owned about 0.09% of Nova worth $14,538,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Royal Bank of Canada raised its stake in Nova by 660.4% in the 1st quarter. Royal Bank of Canada now owns 10,668 shares of the semiconductor company's stock valued at $1,966,000 after acquiring an additional 9,265 shares during the period. Advisors Asset Management Inc. raised its position in shares of Nova by 51.6% in the first quarter. Advisors Asset Management Inc. now owns 376 shares of the semiconductor company's stock valued at $69,000 after purchasing an additional 128 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Nova during the 2nd quarter worth about $5,445,000. EverSource Wealth Advisors LLC lifted its stake in shares of Nova by 62.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the semiconductor company's stock worth $72,000 after buying an additional 100 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Nova during the 2nd quarter worth about $1,886,000. 82.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Gabriel Waisman sold 2,966 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $501.30, for a total value of $1,486,855.80. Following the sale, the chief executive officer directly owned 28,714 shares in the company, valued at approximately $14,394,328.20. This trade represents a 9.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Yaniv Garty sold 426 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $514.49, for a total transaction of $219,172.74. Following the completion of the sale, the director owned 2,038 shares in the company, valued at $1,048,530.62. This represents a 17.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,798 shares of company stock valued at $4,125,266 in the last three months. Company insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

NVMI has been the topic of a number of research reports. Evercore set a $475.00 price target on shares of Nova in a research note on Friday. Needham & Company LLC cut their price objective on shares of Nova from $640.00 to $570.00 and set a "buy" rating for the company in a research report on Friday. Morgan Stanley boosted their price objective on Nova from $494.00 to $540.00 and gave the stock an "equal weight" rating in a report on Monday, July 6th. Wall Street Zen raised Nova from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Citigroup lowered their target price on Nova from $595.00 to $550.00 and set a "buy" rating on the stock in a research note on Monday. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Nova presently has an average rating of "Moderate Buy" and an average price target of $514.44.

Nova Stock Down 2.1%

NVMI stock opened at $384.80 on Tuesday. Nova Ltd. has a 12 month low of $232.73 and a 12 month high of $615.99. The firm has a market cap of $12.23 billion, a P/E ratio of 47.62, a P/E/G ratio of 2.31 and a beta of 1.78. The company's 50-day moving average price is $478.62 and its two-hundred day moving average price is $475.44.

Nova (NASDAQ:NVMI - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $2.51 earnings per share for the quarter, topping analysts' consensus estimates of $2.41 by $0.10. The company had revenue of $254.96 million during the quarter, compared to the consensus estimate of $250.33 million. Nova had a net margin of 28.84% and a return on equity of 21.41%. The firm's quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.20 EPS. Nova has set its Q3 2026 guidance at 2.700-2.850 EPS. Equities analysts predict that Nova Ltd. will post 9.71 EPS for the current year.

Nova Profile

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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