Nova Ltd. $NVMI is Harel Insurance Investments & Financial Services Ltd.'s 4th Largest Position

Key Points

• Harel Insurance Investments increased its stake in Nova by 2.8% to 1,468,863 shares, making Nova its 4th largest holding and representing roughly 5.0% ownership of Nova worth about $482.36 million (≈4.2% of Harel’s portfolio).
• Analyst consensus is a "Moderate Buy" (8 Buys, 2 Holds) with a mean target of $442.25, which is notably below the stock's recent open near $515.65.
• Recent results showed a slight beat (Q EPS $2.14 vs $2.13) with revenue up 14.3%, a 29.4% net margin and 22.9% ROE, while the stock trades at a high P/E of 64.38 on a $16.4B market cap.

Harel Insurance Investments & Financial Services Ltd. boosted its stake in Nova Ltd. (NASDAQ:NVMI - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,468,863 shares of the semiconductor company's stock after acquiring an additional 40,256 shares during the period. Nova comprises approximately 4.2% of Harel Insurance Investments & Financial Services Ltd.'s portfolio, making the stock its 4th largest position. Harel Insurance Investments & Financial Services Ltd. owned approximately 5.00% of Nova worth $482,360,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NVMI. Measured Wealth Private Client Group LLC purchased a new stake in Nova in the third quarter valued at $40,000. CIBC Private Wealth Group LLC lifted its position in Nova by 75.7% in the third quarter. CIBC Private Wealth Group LLC now owns 130 shares of the semiconductor company's stock valued at $42,000 after acquiring an additional 56 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Nova by 2,042.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the semiconductor company's stock valued at $48,000 after acquiring an additional 143 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Nova by 51.6% in the first quarter. Advisors Asset Management Inc. now owns 376 shares of the semiconductor company's stock valued at $69,000 after acquiring an additional 128 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Nova by 62.5% in the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the semiconductor company's stock valued at $72,000 after acquiring an additional 100 shares during the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Barclays started coverage on shares of Nova in a research report on Wednesday, March 11th. They issued an "overweight" rating and a $465.00 price target for the company. Evercore restated an "outperform" rating and set a $485.00 target price on shares of Nova in a research report on Friday, February 13th. Bank of America raised their target price on shares of Nova from $380.00 to $450.00 and gave the stock a "buy" rating in a research report on Tuesday, January 13th. Morgan Stanley restated an "outperform" rating and set a $453.00 target price on shares of Nova in a research report on Friday, February 13th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Nova in a research report on Friday, April 10th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Nova has an average rating of "Moderate Buy" and a consensus target price of $442.25.

Nova Stock Performance

NASDAQ NVMI opened at $515.65 on Wednesday. The company has a quick ratio of 5.47, a current ratio of 6.28 and a debt-to-equity ratio of 0.56. Nova Ltd. has a 52-week low of $176.52 and a 52-week high of $550.00. The business's 50-day moving average price is $469.37 and its 200 day moving average price is $402.99. The firm has a market cap of $16.39 billion, a P/E ratio of 64.38, a P/E/G ratio of 3.60 and a beta of 1.78.

Nova (NASDAQ:NVMI - Get Free Report) last released its quarterly earnings results on Friday, February 13th. The semiconductor company reported $2.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.13 by $0.01. Nova had a return on equity of 22.90% and a net margin of 29.44%.The firm had revenue of $222.62 million for the quarter, compared to analyst estimates of $220.43 million. During the same quarter last year, the company posted $1.94 earnings per share. The business's revenue was up 14.3% on a year-over-year basis. On average, equities research analysts expect that Nova Ltd. will post 9.37 earnings per share for the current year.

Nova Profile

Nova Measuring Instruments Ltd NASDAQ: NVMI develops and supplies advanced metrology and process control systems for the semiconductor manufacturing industry. The company's core product line includes spectroscopic ellipsometry and scatterometry tools designed to measure film thickness, critical dimensions, overlay alignment and other key parameters that drive yield and performance in integrated circuit fabrication.

Founded in 1993 and headquartered in Rehovot, Israel, Nova Measuring Instruments has established itself as a critical partner to leading semiconductor foundries and device manufacturers.

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