Granahan Investment Management LLC Purchases 30,806 Shares of Nova Ltd. $NVMI

Key Points

• Granahan Investment Management LLC increased its stake in Nova Ltd. by 153.5% during the first quarter, now holding 50,874 shares valued at approximately $9.38 million.
• Several analysts have adjusted their price targets for Nova Ltd., with Benchmark and Citigroup lowering their targets to $280, while Bank of America raised its target to $270, maintaining a "buy" rating.
• Nova Ltd. reported a strong earnings performance for the quarter, with an EPS of $2.20 exceeding estimates and a revenue increase of 40.2% year-over-year.

Granahan Investment Management LLC lifted its stake in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 153.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,874 shares of the semiconductor company's stock after buying an additional 30,806 shares during the period. Granahan Investment Management LLC owned about 0.17% of Nova worth $9,378,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of 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 valued at $7,355,000 after buying an additional 21,941 shares during the last quarter. Retirement Systems of Alabama purchased a new position in shares of Nova during the first quarter valued at approximately $1,957,000. Janney Montgomery Scott LLC purchased a new position in shares of Nova during the first quarter valued at approximately $239,000. Dimensional Fund Advisors LP boosted its position in shares of Nova by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 22,472 shares of the semiconductor company's stock valued at $4,426,000 after buying an additional 877 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of Nova during the fourth quarter valued at approximately $237,000. Hedge funds and other institutional investors own 82.99% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NVMI. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price objective (up previously from $250.00) on shares of Nova in a research report on Tuesday, June 24th. Wall Street Zen cut Nova from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Bank of America boosted their price objective on Nova from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $282.50.

Nova Price Performance

Shares of NVMI traded down $0.01 during mid-day trading on Wednesday, hitting $277.22. The stock had a trading volume of 206,003 shares, compared to its average volume of 294,976. The firm has a market cap of $8.15 billion, a P/E ratio of 37.72, a PEG ratio of 2.27 and a beta of 1.72. The business has a fifty day moving average price of $267.85 and a 200-day moving average price of $228.01. Nova Ltd. has a 52 week low of $153.99 and a 52 week high of $291.99.

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