Two Sigma Investments LP Boosts Stake in Nova Ltd. (NASDAQ:NVMI)

Two Sigma Investments LP lifted its stake in Nova Ltd. (NASDAQ:NVMI - Free Report) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,304 shares of the semiconductor company's stock after acquiring an additional 8,631 shares during the period. Two Sigma Investments LP owned approximately 0.50% of Nova worth $28,815,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. SG Americas Securities LLC raised its position in Nova by 352.8% during the fourth quarter. SG Americas Securities LLC now owns 3,618 shares of the semiconductor company's stock valued at $713,000 after purchasing an additional 2,819 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Nova by 1.0% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,169,625 shares of the semiconductor company's stock worth $230,358,000 after purchasing an additional 11,915 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Nova by 21.6% in the fourth quarter. Blue Trust Inc. now owns 1,462 shares of the semiconductor company's stock worth $305,000 after purchasing an additional 260 shares during the last quarter. Swedbank AB bought a new stake in shares of Nova in the fourth quarter worth about $2,954,000. Finally, SkyOak Wealth LLC bought a new stake in shares of Nova in the fourth quarter worth about $327,000. 82.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Citigroup cut their target price on Nova from $290.00 to $280.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Bank of America cut their price objective on Nova from $310.00 to $248.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Needham & Company LLC reaffirmed a "hold" rating on shares of Nova in a research report on Friday, February 14th. Cantor Fitzgerald cut their price objective on Nova from $315.00 to $300.00 and set an "overweight" rating on the stock in a research report on Friday, March 14th. Finally, Benchmark cut their price objective on Nova from $295.00 to $280.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $277.00.

Nova Price Performance

Shares of NASDAQ NVMI traded up $14.03 during mid-day trading on Tuesday, hitting $197.03. 75,138 shares of the company's stock traded hands, compared to its average volume of 229,365. Nova Ltd. has a 1 year low of $154.00 and a 1 year high of $289.90. The company has a market capitalization of $5.79 billion, a P/E ratio of 34.22, a PEG ratio of 2.55 and a beta of 1.66. The company's 50-day moving average is $187.72 and its two-hundred day moving average is $207.12.

Nova (NASDAQ:NVMI - Get Free Report) last issued its earnings results on Thursday, May 8th. The semiconductor company reported $2.18 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.10. The business had revenue of $213.36 million for the quarter, compared to analyst estimates of $210.10 million. Nova had a net margin of 27.33% and a return on equity of 22.33%. The company's quarterly revenue was up 50.5% compared to the same quarter last year. During the same period last year, the company posted $1.39 earnings per share. Equities analysts anticipate that Nova Ltd. will post 7.52 EPS for the current fiscal year.

About Nova

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.