Nova Ltd. (NASDAQ:NVMI) Shares Purchased by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its stake in Nova Ltd. by 35.0%, owning a total of 95,555 shares worth approximately $17.6 million as of the latest SEC filing.
• Multiple institutional investors also showed interest in Nova, with 82.99% of the stock currently owned by hedge funds and other institutional investors.
• Analysts have mixed ratings on Nova, with consensus indicating a "Moderate Buy" status and a target price averaging $282.50, while Citigroup and Benchmark reduced their target prices to $280.00.

Deutsche Bank AG increased its position in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 35.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,555 shares of the semiconductor company's stock after buying an additional 24,771 shares during the period. Deutsche Bank AG owned about 0.33% of Nova worth $17,614,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NVMI. Alliancebernstein L.P. grew its stake in Nova by 0.8% in the fourth quarter. Alliancebernstein L.P. now owns 5,688 shares of the semiconductor company's stock valued at $1,120,000 after purchasing an additional 44 shares during the last quarter. NewEdge Advisors LLC grew its stake in Nova by 3.6% in the fourth quarter. NewEdge Advisors LLC now owns 1,339 shares of the semiconductor company's stock valued at $264,000 after purchasing an additional 47 shares during the last quarter. Advisory Services Network LLC boosted its holdings in Nova by 5.0% in the fourth quarter. Advisory Services Network LLC now owns 1,149 shares of the semiconductor company's stock worth $226,000 after acquiring an additional 55 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Nova by 3.7% in the fourth quarter. Ameriprise Financial Inc. now owns 1,926 shares of the semiconductor company's stock worth $379,000 after acquiring an additional 68 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Nova by 7.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,269 shares of the semiconductor company's stock worth $234,000 after acquiring an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NVMI shares. Citigroup lowered their price target on Nova from $290.00 to $280.00 and set a "buy" rating for the company in a report on Friday, May 9th. Bank of America boosted their price target on Nova from $250.00 to $270.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Wall Street Zen cut Nova from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Benchmark cut their price objective on Nova from $295.00 to $280.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $300.00 price objective (up from $250.00) on shares of Nova in a research report on Tuesday, June 24th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Nova has an average rating of "Moderate Buy" and an average target price of $282.50.

Nova Stock Performance

Shares of NVMI traded down $16.48 during trading hours on Friday, hitting $254.35. 273,587 shares of the stock were exchanged, compared to its average volume of 259,894. Nova Ltd. has a 12-month low of $153.99 and a 12-month high of $291.99. The company has a market cap of $7.48 billion, a price-to-earnings ratio of 34.61, a price-to-earnings-growth ratio of 2.12 and a beta of 1.67. The stock's 50-day moving average price is $262.46 and its two-hundred day moving average price is $227.96.

Nova (NASDAQ:NVMI - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.05 by $0.15. The firm had revenue of $219.99 million during the quarter, compared to analysts' expectations of $214.95 million. Nova had a return on equity of 24.36% and a net margin of 29.10%. The firm's revenue for the quarter was up 40.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.61 earnings per share. On average, research analysts expect that Nova Ltd. will post 7.52 earnings per share for the current year.

Nova Company 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.