Eagle Global Advisors LLC lessened its stake in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 12.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,000 shares of the semiconductor company's stock after selling 3,000 shares during the quarter. Eagle Global Advisors LLC owned approximately 0.07% of Nova worth $3,871,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in NVMI. ASR Vermogensbeheer N.V. purchased a new stake in shares of Nova during the first quarter valued at approximately $26,000. Quarry LP boosted its stake in shares of Nova by 187.1% during the fourth quarter. Quarry LP now owns 402 shares of the semiconductor company's stock valued at $79,000 after purchasing an additional 262 shares during the period. Advisory Services Network LLC boosted its stake in shares of Nova by 5.0% during the fourth quarter. Advisory Services Network LLC now owns 1,149 shares of the semiconductor company's stock valued at $226,000 after purchasing an additional 55 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Nova by 7.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,269 shares of the semiconductor company's stock valued at $234,000 after purchasing an additional 87 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in shares of Nova during the fourth quarter valued at approximately $237,000. Hedge funds and other institutional investors own 82.99% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on NVMI. Wall Street Zen lowered Nova from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Bank of America upped their target price on Nova from $250.00 to $270.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 target price (up previously from $250.00) on shares of Nova in a report on Tuesday, June 24th. Citigroup decreased their target price on Nova from $290.00 to $280.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Benchmark decreased their target price on Nova from $295.00 to $280.00 and set a "buy" rating for the company in a report on Friday, May 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $282.50.
Check Out Our Latest Stock Report on Nova
Nova Trading Up 1.1%
NVMI traded up $2.93 during trading on Wednesday, reaching $274.43. The stock had a trading volume of 115,860 shares, compared to its average volume of 293,020. The stock's 50 day moving average is $260.62 and its two-hundred day moving average is $227.48. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 37.34, a P/E/G ratio of 2.26 and a beta of 1.67. Nova Ltd. has a one year low of $153.99 and a one year high of $291.99.
Nova (NASDAQ:NVMI - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $2.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.15. Nova had a return on equity of 24.36% and a net margin of 29.10%. The business had revenue of $219.99 million during the quarter, compared to the consensus estimate of $214.95 million. During the same quarter in the prior year, the company earned $1.61 earnings per share. The firm's quarterly revenue was up 40.2% compared to the same quarter last year. On average, equities research analysts predict that Nova Ltd. will post 7.52 earnings per share for the current year.
Nova Company Profile
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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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