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Nova Ltd. (NASDAQ:NVMI) Stock Holdings Lessened by Montanaro Asset Management Ltd

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Key Points

  • Montanaro Asset Management Ltd reduced its stake in Nova Ltd. by 15.6%, holding 64,125 shares worth approximately $11.82 million, after selling 11,833 shares in the first quarter.
  • Other institutional investors like Wasatch Advisors LP and Polar Capital Holdings Plc significantly increased their stakes in Nova, with Wasatch boosting its position by 49.3% in the fourth quarter.
  • Nova Ltd. recently reported earnings exceeding expectations, with $2.20 earnings per share for the quarter and a revenue of $219.99 million, reflecting a 40.2% year-over-year increase.
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Montanaro Asset Management Ltd lessened its position in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 15.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,125 shares of the semiconductor company's stock after selling 11,833 shares during the period. Nova comprises 3.5% of Montanaro Asset Management Ltd's investment portfolio, making the stock its 11th biggest holding. Montanaro Asset Management Ltd owned about 0.22% of Nova worth $11,820,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alliancebernstein L.P. grew its position in shares of Nova by 0.8% in the 4th quarter. Alliancebernstein L.P. now owns 5,688 shares of the semiconductor company's stock valued at $1,120,000 after buying an additional 44 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Nova by 3.6% during the 4th quarter. NewEdge Advisors LLC now owns 1,339 shares of the semiconductor company's stock worth $264,000 after purchasing an additional 47 shares during the period. Advisory Services Network LLC boosted its stake in Nova by 5.0% during the 4th quarter. Advisory Services Network LLC now owns 1,149 shares of the semiconductor company's stock worth $226,000 after purchasing an additional 55 shares during the period. Ameriprise Financial Inc. boosted its stake in Nova by 3.7% during the 4th quarter. Ameriprise Financial Inc. now owns 1,926 shares of the semiconductor company's stock worth $379,000 after purchasing an additional 68 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Nova by 7.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,269 shares of the semiconductor company's stock worth $234,000 after purchasing an additional 87 shares during the period. Institutional investors and hedge funds own 82.99% of the company's stock.

Analyst Upgrades and Downgrades

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

Get Our Latest Stock Report on NVMI

Nova Stock Down 6.1%

Shares of NASDAQ NVMI traded down $16.48 during trading on Friday, reaching $254.35. 273,587 shares of the stock were exchanged, compared to its average volume of 259,894. The business's 50-day moving average price is $262.46 and its 200 day moving average price is $227.99. Nova Ltd. has a twelve month low of $153.99 and a twelve month high of $291.99. The company has a market capitalization of $7.48 billion, a price-to-earnings ratio of 34.61, a price-to-earnings-growth ratio of 2.26 and a beta of 1.67.

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

About Nova

(Free Report)

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.

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Institutional Ownership by Quarter for Nova (NASDAQ:NVMI)

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