Migdal Insurance & Financial Holdings Ltd. decreased its position in Nova Ltd. (NASDAQ:NVMI - Free Report) by 7.3% during the first quarter, according to the company in its most recent 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 makes up approximately 3.3% of Migdal Insurance & Financial Holdings Ltd.'s holdings, making the stock its 7th biggest position. Migdal Insurance & Financial Holdings Ltd. owned 4.34% of Nova worth $234,281,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of Nova by 1,016.2% in the 4th quarter. Bank of New York Mellon Corp now owns 17,960 shares of the semiconductor company's stock worth $3,537,000 after purchasing an additional 16,351 shares during the period. Raymond James Financial Inc. purchased a new stake in Nova during the 4th quarter valued at approximately $6,541,000. PNC Financial Services Group Inc. grew its holdings in shares of Nova by 79.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,182 shares of the semiconductor company's stock valued at $233,000 after purchasing an additional 524 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Nova by 21.5% in the fourth quarter. Sei Investments Co. now owns 145,153 shares of the semiconductor company's stock valued at $28,588,000 after purchasing an additional 25,728 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Nova by 6.3% in the fourth quarter. LPL Financial LLC now owns 10,323 shares of the semiconductor company's stock valued at $2,033,000 after purchasing an additional 608 shares in the last quarter. Institutional investors own 82.99% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on NVMI shares. Benchmark decreased their price target on Nova from $295.00 to $280.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Bank of America boosted their price target on Nova from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 target price (up from $250.00) on shares of Nova in a research report on Tuesday, June 24th. Citigroup reduced their target price on Nova from $290.00 to $280.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Finally, Wall Street Zen lowered Nova from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $282.50.
Check Out Our Latest Stock Analysis on Nova
Nova Price Performance
NVMI stock traded up $1.99 during mid-day trading on Friday, reaching $278.21. 94,225 shares of the company's stock were exchanged, compared to its average volume of 243,465. The company has a market cap of $8.18 billion, a price-to-earnings ratio of 42.03, a price-to-earnings-growth ratio of 2.42 and a beta of 1.66. The stock's 50 day moving average is $235.39 and its 200 day moving average is $222.59. Nova Ltd. has a 12-month low of $154.00 and a 12-month high of $291.99.
Nova (NASDAQ:NVMI - Get Free Report) last announced its earnings results on Thursday, May 8th. The semiconductor company reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.10. Nova had a return on equity of 23.98% and a net margin of 28.46%. The business had revenue of $213.36 million during the quarter, compared to analysts' expectations of $210.10 million. During the same quarter in the prior year, the firm earned $1.39 earnings per share. The business's revenue was up 50.5% compared to the same quarter last year. On average, research analysts forecast 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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