Stephens Inc. AR lifted its stake in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 8.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,554 shares of the semiconductor company's stock after buying an additional 1,270 shares during the quarter. Stephens Inc. AR owned about 0.05% of Nova worth $2,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently modified their holdings of NVMI. Wasatch Advisors LP increased its holdings in shares of Nova by 49.3% during the fourth quarter. Wasatch Advisors LP now owns 2,411,677 shares of the semiconductor company's stock valued at $474,980,000 after acquiring an additional 796,629 shares in the last quarter. Polar Capital Holdings Plc grew its position in Nova by 504.5% during the 4th quarter. Polar Capital Holdings Plc now owns 354,302 shares of the semiconductor company's stock valued at $69,780,000 after purchasing an additional 295,691 shares during the last quarter. Capital World Investors increased its stake in Nova by 33.3% during the 4th quarter. Capital World Investors now owns 600,868 shares of the semiconductor company's stock valued at $118,341,000 after purchasing an additional 150,000 shares in the last quarter. Norges Bank bought a new stake in Nova during the 4th quarter valued at about $11,358,000. Finally, Raiffeisen Bank International AG purchased a new position in Nova in the fourth quarter worth about $9,859,000. Hedge funds and other institutional investors own 82.99% of the company's stock.
Nova Stock Up 0.7%
Shares of Nova stock traded up $1.99 on Friday, reaching $278.21. The stock had a trading volume of 94,225 shares, compared to its average volume of 243,465. The company has a 50 day moving average price of $235.39 and a 200 day moving average price of $222.59. Nova Ltd. has a 1 year low of $154.00 and a 1 year high of $291.99. The stock has a market capitalization of $8.18 billion, a P/E ratio of 42.03, a P/E/G ratio of 2.42 and a beta of 1.66.
Nova (NASDAQ:NVMI - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.10. The firm had revenue of $213.36 million for the quarter, compared to the consensus estimate of $210.10 million. Nova had a net margin of 28.46% and a return on equity of 23.98%. The firm's quarterly revenue was up 50.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.39 earnings per share. On average, analysts forecast that Nova Ltd. will post 7.52 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
NVMI has been the topic of several analyst reports. Bank of America upped their target price on shares of Nova from $250.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Citigroup lowered their price objective on shares of Nova from $290.00 to $280.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Benchmark reduced their target price on shares of Nova from $295.00 to $280.00 and set a "buy" rating for the company in a report on Friday, May 9th. Wall Street Zen cut shares of Nova from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price objective (up from $250.00) on shares of Nova in a research note on Tuesday, June 24th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $282.50.
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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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