Nova Ltd. (NASDAQ:NVMI) Shares Bought by Swiss National Bank

Key Points

• Swiss National Bank increased its stake in Nova Ltd. by 44.6% during Q1, owning 82,523 shares worth $15.07 million.
• Analyst ratings vary, with Wall Street Zen lowering the rating to "hold", while Cantor Fitzgerald raised the target price to $300, indicating mixed sentiment on the stock.
• Nova Ltd. reported a strong Q2 with $2.20 earnings per share, exceeding expectations and achieving a year-over-year revenue increase of 40.2%.

Swiss National Bank grew its position in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 44.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 82,523 shares of the semiconductor company's stock after purchasing an additional 25,471 shares during the quarter. Swiss National Bank owned 0.28% of Nova worth $15,071,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Y.D. More Investments Ltd boosted its stake in shares of Nova by 0.5% during the 1st quarter. Y.D. More Investments Ltd now owns 297,921 shares of the semiconductor company's stock worth $54,511,000 after acquiring an additional 1,614 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Nova by 35.0% during the 1st quarter. Deutsche Bank AG now owns 95,555 shares of the semiconductor company's stock worth $17,614,000 after acquiring an additional 24,771 shares in the last quarter. Charles Schwab Investment Management Inc. bought a new stake in shares of Nova during the 1st quarter worth $878,000. ASR Vermogensbeheer N.V. bought a new stake in shares of Nova during the 1st quarter worth $26,000. Finally, Vanguard Group Inc. boosted its stake in shares of Nova by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 1,062,142 shares of the semiconductor company's stock worth $197,195,000 after acquiring an additional 14,360 shares in the last quarter. 82.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wall Street Zen lowered Nova from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 target price (up previously from $250.00) on shares of Nova in a research report on Tuesday, June 24th. Bank of America raised their target price on Nova from $250.00 to $270.00 and gave the stock a "buy" rating in a research 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 research 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 research report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Nova currently has an average rating of "Moderate Buy" and a consensus target price of $282.50.

Nova Trading Up 1.1%

NVMI opened at $274.43 on Thursday. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.26 and a beta of 1.67. Nova Ltd. has a 1 year low of $153.99 and a 1 year high of $291.99. The stock has a fifty day moving average price of $260.62 and a 200 day moving average price of $227.48.

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

Nova Company Profile

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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