Granahan Investment Management LLC Sells 5,798 Shares of Nova Ltd. $NVMI

Key Points

• Granahan Investment Management cut its Nova Ltd. stake by 42.1% in the first quarter, selling 5,798 shares and leaving it with 7,985 shares worth about $3.47 million.
• Institutional ownership remains high, with about 82.99% of Nova’s stock held by institutions, while insiders have also been selling shares in recent months.
• Nova’s latest quarterly results beat expectations, reporting EPS of $2.33 on revenue of $235.31 million, and analysts currently rate the stock a Moderate Buy with an average target price of $556.67.

Granahan Investment Management LLC trimmed its holdings in Nova Ltd. (NASDAQ:NVMI - Free Report) by 42.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,985 shares of the semiconductor company's stock after selling 5,798 shares during the period. Granahan Investment Management LLC's holdings in Nova were worth $3,468,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Smartleaf Asset Management LLC acquired a new stake in Nova during the fourth quarter worth approximately $29,000. Measured Wealth Private Client Group LLC acquired a new position in Nova in the 3rd quarter valued at $40,000. CIBC Private Wealth Group LLC raised its holdings in Nova by 75.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 130 shares of the semiconductor company's stock valued at $42,000 after acquiring an additional 56 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Nova by 2,042.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the semiconductor company's stock valued at $48,000 after acquiring an additional 143 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in shares of Nova by 51.6% during the 1st quarter. Advisors Asset Management Inc. now owns 376 shares of the semiconductor company's stock valued at $69,000 after acquiring an additional 128 shares during the period. 82.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NVMI has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on Nova from $494.00 to $540.00 and gave the stock an "equal weight" rating in a research report on Monday, July 6th. Zacks Research cut shares of Nova from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 14th. Weiss Ratings downgraded shares of Nova from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, July 7th. Wall Street Zen raised shares of Nova from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Finally, Evercore restated an "outperform" rating and issued a $600.00 target price on shares of Nova in a research report on Friday, May 15th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $556.67.

Insider Activity at Nova

In other news, Director Yaniv Garty sold 426 shares of the company's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $514.49, for a total transaction of $219,172.74. Following the completion of the transaction, the director directly owned 2,038 shares in the company, valued at approximately $1,048,530.62. This represents a 17.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 shares were sold at an average price of $536.52, for a total value of $243,580.08. Following the completion of the transaction, the director owned 1,951 shares of the company's stock, valued at $1,046,750.52. The trade was a 18.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,798 shares of company stock valued at $4,125,266 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Nova Stock Performance

Shares of NVMI opened at $437.98 on Friday. Nova Ltd. has a 52-week low of $232.73 and a 52-week high of $615.99. The firm has a market cap of $13.92 billion, a price-to-earnings ratio of 54.61, a PEG ratio of 3.17 and a beta of 1.74. The business's fifty day moving average is $501.31 and its 200-day moving average is $476.11.

Nova (NASDAQ:NVMI - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The semiconductor company reported $2.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.20 by $0.13. The business had revenue of $235.31 million during the quarter, compared to analysts' expectations of $227.02 million. Nova had a net margin of 29.21% and a return on equity of 21.77%. The firm's quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.18 EPS. Nova has set its Q2 2026 guidance at 2.340-2.480 EPS. As a group, research analysts forecast that Nova Ltd. will post 9.46 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding NVMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nova Ltd. (NASDAQ:NVMI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.