Assetmark Inc. Has $13.92 Million Stock Position in Nova Ltd. $NVMI

Key Points

• Assetmark Inc. increased its stake in Nova Ltd. to 42,383 shares (about $13.92 million) in Q4, adding 2,249 shares and holding roughly 0.14% of the company.
• Large institutions have been buying: Invesco now owns 607,344 shares (~$194.1M), and overall institutional ownership is about 82.99%.
• Analysts are broadly bullish—eight Buys and two Holds with an average rating of "Moderate Buy" and an average price target of $442.25 (some targets up to $520)—while the stock trades near $514.22 after a recent quarter showing 14.3% revenue growth and an EPS beat.

Assetmark Inc. boosted its stake in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 5.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 42,383 shares of the semiconductor company's stock after buying an additional 2,249 shares during the period. Assetmark Inc. owned approximately 0.14% of Nova worth $13,918,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of NVMI. Invesco Ltd. raised its holdings in Nova by 185.4% during the 3rd quarter. Invesco Ltd. now owns 607,344 shares of the semiconductor company's stock worth $194,144,000 after buying an additional 394,544 shares during the period. Groupama Asset Managment acquired a new stake in Nova during the 3rd quarter worth approximately $79,915,000. Rafferty Asset Management LLC acquired a new stake in Nova during the 3rd quarter worth approximately $79,398,000. Barclays PLC raised its holdings in Nova by 2,672.2% during the 3rd quarter. Barclays PLC now owns 175,843 shares of the semiconductor company's stock worth $56,210,000 after buying an additional 169,500 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in Nova by 69.2% during the 2nd quarter. Lazard Asset Management LLC now owns 359,221 shares of the semiconductor company's stock worth $98,857,000 after buying an additional 146,932 shares during the period. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NVMI has been the topic of several research analyst reports. Barclays began coverage on shares of Nova in a report on Wednesday, March 11th. They set an "overweight" rating and a $465.00 target price on the stock. Citigroup lifted their price objective on shares of Nova from $370.00 to $520.00 and gave the company a "buy" rating in a report on Friday, February 13th. Morgan Stanley reiterated an "outperform" rating and issued a $453.00 price objective on shares of Nova in a report on Friday, February 13th. Bank of America lifted their price objective on shares of Nova from $380.00 to $450.00 and gave the company a "buy" rating in a report on Tuesday, January 13th. Finally, Evercore reiterated an "outperform" rating and issued a $485.00 price objective on shares of Nova in a report on Friday, February 13th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Nova presently has an average rating of "Moderate Buy" and an average price target of $442.25.

Nova Price Performance

Shares of NVMI opened at $514.22 on Friday. The company has a market cap of $16.34 billion, a price-to-earnings ratio of 64.20, a PEG ratio of 3.78 and a beta of 1.80. Nova Ltd. has a 1-year low of $168.18 and a 1-year high of $524.76. The company's fifty day simple moving average is $454.30 and its 200 day simple moving average is $386.61. The company has a current ratio of 6.28, a quick ratio of 5.47 and a debt-to-equity ratio of 0.56.

Nova (NASDAQ:NVMI - Get Free Report) last issued its earnings results on Friday, February 13th. The semiconductor company reported $2.14 earnings per share for the quarter, topping analysts' consensus estimates of $2.13 by $0.01. The business had revenue of $222.62 million for the quarter, compared to the consensus estimate of $220.43 million. Nova had a net margin of 29.44% and a return on equity of 22.90%. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.94 earnings per share. On average, research analysts forecast that Nova Ltd. will post 7.52 earnings per share for the current fiscal 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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