Assenagon Asset Management S.A. Reduces Holdings in Nova Ltd. (NASDAQ:NVMI)

Assenagon Asset Management S.A. lessened its holdings in Nova Ltd. (NASDAQ:NVMI - Free Report) by 52.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,582 shares of the semiconductor company's stock after selling 61,263 shares during the quarter. Assenagon Asset Management S.A. owned about 0.19% of Nova worth $10,327,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alliancebernstein L.P. lifted its stake in shares of Nova by 0.8% in the fourth quarter. Alliancebernstein L.P. now owns 5,688 shares of the semiconductor company's stock worth $1,120,000 after buying an additional 44 shares in the last quarter. NewEdge Advisors LLC raised its position in Nova by 3.6% in the fourth quarter. NewEdge Advisors LLC now owns 1,339 shares of the semiconductor company's stock worth $264,000 after acquiring an additional 47 shares during the period. Quadrant Capital Group LLC raised its position in shares of Nova by 5.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,030 shares of the semiconductor company's stock valued at $203,000 after purchasing an additional 51 shares during the period. Advisory Services Network LLC increased its stake in Nova by 5.0% in the 4th quarter. Advisory Services Network LLC now owns 1,149 shares of the semiconductor company's stock worth $226,000 after buying an additional 55 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. increased its stake in Nova by 1.3% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 4,742 shares of the semiconductor company's stock worth $935,000 after buying an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company's stock.

Analyst Ratings Changes

NVMI has been the subject of several research reports. Wall Street Zen downgraded shares of Nova from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Benchmark decreased their price objective on shares of Nova from $295.00 to $280.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Cantor Fitzgerald decreased their price objective on shares of Nova from $315.00 to $300.00 and set an "overweight" rating for the company in a research note on Friday, March 14th. Bank of America decreased their price target on shares of Nova from $310.00 to $248.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, Citigroup cut their price objective on shares of Nova from $290.00 to $280.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $277.00.

Nova Price Performance

NASDAQ NVMI traded down $2.40 on Tuesday, hitting $228.04. The stock had a trading volume of 177,322 shares, compared to its average volume of 236,564. The business's fifty day moving average price is $197.43 and its 200 day moving average price is $210.89. Nova Ltd. has a 52-week low of $154.00 and a 52-week high of $289.90. The stock has a market cap of $6.70 billion, a price-to-earnings ratio of 34.45, a price-to-earnings-growth ratio of 2.02 and a beta of 1.61.

Nova (NASDAQ:NVMI - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.08 by $0.10. Nova had a net margin of 28.46% and a return on equity of 23.98%. The business had revenue of $213.36 million during the quarter, compared to the consensus estimate of $210.10 million. During the same period in the previous year, the firm posted $1.39 earnings per share. The business's revenue for the quarter was up 50.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nova Ltd. will post 7.52 EPS for the current year.

Nova Profile

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.