Mirae Asset Global Investments Co. Ltd. Acquires 6,804 Shares of Nova Ltd. $NVMI

Key Points

• Mirae Asset boosted its stake in Nova by 21.4% in Q4, buying 6,804 shares to hold 38,565 shares worth $12,664,000 (about 0.13% of the company).
• Nova's stock is trading near its 52‑week high ($528.80) with a market capitalization of $16.8 billion and a high valuation (PE of 66.01), reflecting strong recent price appreciation.
• Nova reported Q earnings of EPS $2.14 (beats by $0.01) and revenue up 14.3% year‑over‑year, and analysts hold a consensus "Moderate Buy" with a $442.25 target (8 Buys, 2 Holds).

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Nova Ltd. (NASDAQ:NVMI - Free Report) by 21.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,565 shares of the semiconductor company's stock after purchasing an additional 6,804 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.13% of Nova worth $12,664,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its holdings in Nova by 16.1% in the fourth quarter. Farther Finance Advisors LLC now owns 347 shares of the semiconductor company's stock worth $114,000 after purchasing an additional 48 shares in the last quarter. Assetmark Inc. increased its holdings in Nova by 5.6% in the fourth quarter. Assetmark Inc. now owns 42,383 shares of the semiconductor company's stock worth $13,918,000 after purchasing an additional 2,249 shares in the last quarter. Yorktown Management & Research Co Inc increased its holdings in Nova by 77.8% in the fourth quarter. Yorktown Management & Research Co Inc now owns 3,200 shares of the semiconductor company's stock worth $1,051,000 after purchasing an additional 1,400 shares in the last quarter. Signaturefd LLC increased its holdings in Nova by 4.5% in the fourth quarter. Signaturefd LLC now owns 992 shares of the semiconductor company's stock worth $326,000 after purchasing an additional 43 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in Nova by 95.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 2,413 shares of the semiconductor company's stock worth $792,000 after purchasing an additional 1,180 shares in the last quarter. 82.99% of the stock is currently owned by institutional investors.

Nova Stock Performance

Shares of Nova stock opened at $528.76 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 5.47 and a current ratio of 6.28. Nova Ltd. has a 52 week low of $168.18 and a 52 week high of $528.80. The stock has a 50 day moving average price of $455.69 and a two-hundred day moving average price of $389.00. The stock has a market capitalization of $16.80 billion, a PE ratio of 66.01, a price-to-earnings-growth ratio of 3.87 and a beta of 1.80.

Nova (NASDAQ:NVMI - Get Free Report) last announced its quarterly earnings data on Friday, February 13th. The semiconductor company reported $2.14 EPS for the quarter, beating analysts' consensus estimates of $2.13 by $0.01. Nova had a return on equity of 22.90% and a net margin of 29.44%.The firm had revenue of $222.62 million during the quarter, compared to analysts' expectations of $220.43 million. During the same quarter last year, the firm posted $1.94 earnings per share. The company's revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities analysts anticipate that Nova Ltd. will post 7.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NVMI. Citigroup lifted their target price on Nova from $370.00 to $520.00 and gave the stock a "buy" rating in a report on Friday, February 13th. Morgan Stanley reiterated an "outperform" rating and issued a $453.00 target price on shares of Nova in a report on Friday, February 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of Nova in a report on Friday, April 10th. Barclays began coverage on Nova in a report on Wednesday, March 11th. They issued an "overweight" rating and a $465.00 target price for the company. Finally, Bank of America raised their price objective on Nova from $380.00 to $450.00 and gave the company a "buy" rating in a research note on Tuesday, January 13th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $442.25.

Nova Company 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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