Migdal Insurance & Financial Holdings Ltd. reduced its stake in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 7.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,270,985 shares of the semiconductor company's stock after selling 100,000 shares during the period. Nova accounts for approximately 3.3% of Migdal Insurance & Financial Holdings Ltd.'s portfolio, making the stock its 7th biggest holding. Migdal Insurance & Financial Holdings Ltd. owned 4.34% of Nova worth $234,281,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of NVMI. Quarry LP increased its stake in 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 acquiring an additional 262 shares during the period. Quadrant Capital Group LLC raised its position in Nova by 5.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,030 shares of the semiconductor company's stock valued at $203,000 after purchasing an additional 51 shares during the last quarter. Advisory Services Network LLC boosted its position in Nova by 5.0% in the 4th quarter. Advisory Services Network LLC now owns 1,149 shares of the semiconductor company's stock valued at $226,000 after buying an additional 55 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Nova by 79.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,182 shares of the semiconductor company's stock valued at $233,000 after buying an additional 524 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in shares of Nova in the 4th quarter valued at $237,000. 82.99% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. Wall Street Zen downgraded Nova from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Bank of America raised their price objective on shares of Nova from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Benchmark dropped their price target on shares of Nova from $295.00 to $280.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price objective (up from $250.00) on shares of Nova in a research report on Tuesday, June 24th. Finally, Citigroup lowered their price objective on shares of Nova from $290.00 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 issued a buy rating to the company. According to MarketBeat.com, Nova currently has an average rating of "Moderate Buy" and a consensus price target of $282.50.
Check Out Our Latest Stock Analysis on NVMI
Nova Stock Performance
Shares of Nova stock traded up $6.71 during mid-day trading on Monday, hitting $284.92. 229,634 shares of the stock were exchanged, compared to its average volume of 243,712. Nova Ltd. has a 12 month low of $154.00 and a 12 month high of $291.99. The company has a 50-day simple moving average of $237.18 and a 200 day simple moving average of $223.47. The company has a market capitalization of $8.38 billion, a P/E ratio of 43.04, a P/E/G ratio of 2.44 and a beta of 1.66.
Nova (NASDAQ:NVMI - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.10. The business had revenue of $213.36 million during the quarter, compared to analyst estimates of $210.10 million. Nova had a net margin of 28.46% and a return on equity of 23.98%. Nova's revenue was up 50.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.39 EPS. Analysts predict that Nova Ltd. will post 7.52 EPS for the current 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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