Bank of New York Mellon Corp lifted its position in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 122.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,901 shares of the semiconductor company's stock after purchasing an additional 21,941 shares during the period. Bank of New York Mellon Corp owned 0.14% of Nova worth $7,355,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of NVMI. Quarry LP boosted its holdings in shares of Nova by 187.1% during the fourth quarter. Quarry LP now owns 402 shares of the semiconductor company's stock worth $79,000 after purchasing an additional 262 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Nova by 5.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,030 shares of the semiconductor company's stock worth $203,000 after purchasing an additional 51 shares during the period. Advisory Services Network LLC boosted its holdings in shares of Nova by 5.0% during the fourth quarter. Advisory Services Network LLC now owns 1,149 shares of the semiconductor company's stock worth $226,000 after purchasing an additional 55 shares during the period. Wellington Management Group LLP purchased a new stake in shares of Nova during the fourth quarter worth about $237,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Nova during the first quarter worth about $239,000. 82.99% of the stock is currently owned by hedge funds and other institutional investors.
Nova Stock Down 1.1%
NVMI stock traded down $2.96 during mid-day trading on Friday, hitting $258.62. The company had a trading volume of 642,720 shares, compared to its average volume of 274,658. The company has a market capitalization of $7.60 billion, a price-to-earnings ratio of 39.07, a P/E/G ratio of 2.27 and a beta of 1.66. Nova Ltd. has a 12-month low of $153.99 and a 12-month high of $291.99. The company has a 50-day moving average price of $242.68 and a 200 day moving average price of $224.78.
Nova (NASDAQ:NVMI - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.08 by $0.10. The company had revenue of $213.36 million for the quarter, compared to the consensus estimate of $210.10 million. Nova had a net margin of 28.46% and a return on equity of 23.98%. The firm's revenue was up 50.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.39 EPS. As a group, analysts expect that Nova Ltd. will post 7.52 EPS for the current year.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the stock. Benchmark dropped their target price on shares of Nova from $295.00 to $280.00 and set a "buy" rating for the company in a report on Friday, May 9th. Bank of America raised their price objective on shares of Nova from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Cantor Fitzgerald restated an "overweight" rating and issued a $300.00 price objective (up from $250.00) on shares of Nova in a report on Tuesday, June 24th. Citigroup lowered their price objective on shares of Nova from $290.00 to $280.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Wall Street Zen lowered shares of Nova from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Nova presently has a consensus rating of "Moderate Buy" and an average price target of $282.50.
Read Our Latest Stock Analysis on Nova
About Nova
(
Free Report)
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.
Featured Articles
Before you consider Nova, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nova wasn't on the list.
While Nova currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
