Callan Family Office LLC Makes New $2.02 Million Investment in Nova Ltd. $NVMI

Callan Family Office LLC bought a new stake in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 3,730 shares of the semiconductor company's stock, valued at approximately $2,025,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allworth Financial LP bought a new stake in shares of Nova in the 2nd quarter worth approximately $38,000. Smartleaf Asset Management LLC bought a new position in Nova during the 4th quarter worth $29,000. Measured Wealth Private Client Group LLC bought a new position in Nova during the 3rd quarter worth $40,000. CIBC Private Wealth Group LLC increased its position in Nova by 75.7% in the third quarter. CIBC Private Wealth Group LLC now owns 130 shares of the semiconductor company's stock worth $42,000 after buying an additional 56 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Nova by 2,042.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the semiconductor company's stock valued at $48,000 after buying an additional 143 shares during the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Nova news, Director Eitan Oppenhaim sold 1,504 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $519.48, for a total transaction of $781,297.92. Following the completion of the sale, the director directly owned 6,668 shares in the company, valued at approximately $3,463,892.64. This trade represents a 18.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gabriel Waisman sold 2,966 shares of Nova stock in a transaction dated 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 transaction, 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 6,946 shares of company stock worth $3,686,920. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NVMI has been the subject of several recent analyst reports. Cantor Fitzgerald decreased their target price on shares of Nova from $600.00 to $500.00 and set an "overweight" rating for the company in a research report on Friday, August 7th. Zacks Research upgraded Nova from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. Barclays raised their price objective on Nova from $465.00 to $600.00 and gave the stock an "overweight" rating in a research note on Friday, May 15th. Weiss Ratings lowered Nova from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, July 7th. Finally, Morgan Stanley upped their target price on Nova from $494.00 to $540.00 and gave the company an "equal weight" rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $514.44.

Nova Stock Performance

Shares of NASDAQ:NVMI opened at $376.99 on Friday. The firm has a 50 day simple moving average of $455.95 and a 200 day simple moving average of $470.87. Nova Ltd. has a 52 week low of $232.73 and a 52 week high of $615.99. The company has a market cap of $11.98 billion, a PE ratio of 46.66, a price-to-earnings-growth ratio of 2.18 and a beta of 1.78.

Nova (NASDAQ:NVMI - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The semiconductor company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.10. The firm had revenue of $254.96 million for the quarter, compared to analysts' expectations of $250.33 million. Nova had a net margin of 28.84% and a return on equity of 21.41%. The company's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.20 EPS. On average, equities analysts predict that Nova Ltd. will post 9.89 earnings per share 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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