Needham Investment Management LLC Has $25.94 Million Stock Holdings in Nova Ltd. $NVMI

Key Points

• Needham Investment Management LLC reduced its position in Nova Ltd. by 17.1%, owning 140,750 shares after selling 29,000 during the first quarter.
• Wall Street analysts have mixed views on Nova Ltd.'s stock, with price targets ranging from $270.00 to $300.00 and an overall average rating of "Moderate Buy."
• NOVA reported earnings of $2.20 per share for the last quarter, surpassing expectations, while revenue rose 40.2% year-over-year to $219.99 million.

Needham Investment Management LLC trimmed its position in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 17.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 140,750 shares of the semiconductor company's stock after selling 29,000 shares during the period. Nova makes up approximately 2.4% of Needham Investment Management LLC's investment portfolio, making the stock its 5th largest position. Needham Investment Management LLC owned about 0.48% of Nova worth $25,944,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in Nova by 122.2% during the first quarter. Bank of New York Mellon Corp now owns 39,901 shares of the semiconductor company's stock worth $7,355,000 after buying an additional 21,941 shares in the last quarter. Retirement Systems of Alabama acquired a new stake in Nova during the first quarter worth about $1,957,000. Janney Montgomery Scott LLC acquired a new stake in Nova during the first quarter worth about $239,000. Dimensional Fund Advisors LP grew its stake in Nova by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 22,472 shares of the semiconductor company's stock worth $4,426,000 after buying an additional 877 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Nova during the fourth quarter worth about $237,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NVMI. Bank of America raised their price target on shares of Nova from $250.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Wall Street Zen downgraded shares of Nova from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $300.00 price target (up from $250.00) on shares of Nova in a research note on Tuesday, June 24th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $282.50.

Nova Stock Up 2.7%

NASDAQ NVMI traded up $7.39 on Thursday, hitting $285.54. The company's stock had a trading volume of 334,466 shares, compared to its average volume of 296,614. The company's 50-day moving average is $267.89 and its 200 day moving average is $228.35. The firm has a market cap of $8.39 billion, a PE ratio of 38.81, a PEG ratio of 2.30 and a beta of 1.72. Nova Ltd. has a 1-year low of $153.99 and a 1-year high of $291.99.

Nova (NASDAQ:NVMI - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.15. The firm had revenue of $219.99 million during the quarter, compared to the consensus estimate of $214.95 million. Nova had a net margin of 29.10% and a return on equity of 24.36%. The company's revenue for the quarter was up 40.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.61 earnings per share. Nova has set its Q3 2025 guidance at 2.020-2.220 EPS. On average, equities analysts expect that Nova Ltd. will post 7.52 EPS for the current year.

Nova Company Profile

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.