Edmond DE Rothschild Holding S.A. Makes New $2.65 Million Investment in Nova Ltd. $NVMI

Key Points

• Edmond DE Rothschild Holding purchased 5,007 Nova shares worth approximately $2.65 million during the second quarter. Institutional investors collectively own 82.99% of the semiconductor metrology company.
• Nova reported quarterly earnings of $2.51 per share, exceeding estimates by $0.10, while revenue rose 15.9% year over year to $254.96 million. The company posted a 28.84% net margin and 21.41% return on equity.
• Shares recently traded at $383.87, well below their 50-day and 200-day moving averages. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $514.44, though insiders have sold about $3.69 million of stock over the past three months.

Edmond DE Rothschild Holding S.A. bought a new stake in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,007 shares of the semiconductor company's stock, valued at approximately $2,647,000.

A number of other hedge funds also recently modified their holdings of the business. Smartleaf Asset Management LLC purchased a new position in shares of Nova during the fourth quarter valued at $29,000. Measured Wealth Private Client Group LLC acquired a new position in Nova during the third quarter valued at $40,000. CIBC Private Wealth Group LLC lifted its stake in Nova by 75.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 130 shares of the semiconductor company's stock worth $42,000 after acquiring an additional 56 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Nova by 2,042.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the semiconductor company's stock worth $48,000 after acquiring an additional 143 shares in the last quarter. Finally, TD Private Client Wealth LLC acquired a new stake in Nova during the 4th quarter worth about $74,000. Hedge funds and other institutional investors own 82.99% of the company's stock.

Nova Trading Down 0.4%

NVMI opened at $383.87 on Friday. The stock has a fifty day moving average price of $460.08 and a 200 day moving average price of $471.53. Nova Ltd. has a 1 year low of $232.73 and a 1 year high of $615.99. The stock has a market cap of $12.20 billion, a price-to-earnings ratio of 47.51, a PEG ratio of 2.23 and a beta of 1.78.

Nova (NASDAQ:NVMI - Get Free Report) last issued its earnings results 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. Nova had a return on equity of 21.41% and a net margin of 28.84%.The company had revenue of $254.96 million for the quarter, compared to analyst estimates of $250.33 million. The business's revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.20 EPS. As a group, sell-side analysts forecast that Nova Ltd. will post 9.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NVMI shares. Cantor Fitzgerald lowered their target price on Nova from $600.00 to $500.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. Weiss Ratings lowered shares of Nova from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, July 7th. Wall Street Zen upgraded shares of Nova from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Jefferies Financial Group reaffirmed a "buy" rating and set a $600.00 price objective on shares of Nova in a research report on Thursday, August 6th. Finally, Morgan Stanley upped their price objective on shares of Nova from $494.00 to $540.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold 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 $514.44.

Insider Transactions at Nova

In other news, CEO Gabriel Waisman sold 2,966 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $501.30, for a total transaction of $1,486,855.80. Following the transaction, the chief executive officer owned 28,714 shares in the company, valued at $14,394,328.20. This represents a 9.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sarit Sagiv sold 454 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $536.52, for a total transaction of $243,580.08. Following the transaction, the director owned 1,951 shares in the company, valued at approximately $1,046,750.52. This trade represents a 18.88% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Corporate insiders own 1.00% of the company's stock.

About Nova

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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