Raymond James Financial Inc. Reduces Stock Holdings in Nova Ltd. $NVMI

Key Points

• Raymond James Financial Inc. reduced its stake in Nova Ltd. by 16.7%, holding 27,655 shares valued at approximately $5.1 million after selling 5,555 shares in the first quarter.
• Nova reported $2.20 in earnings per share (EPS) for the last quarter, exceeding analyst expectations, with year-over-year revenue growth of 40.2%.
• Current institutional ownership of Nova stands at 82.99%, indicating strong backing from large investors and hedge funds.

Raymond James Financial Inc. lowered its holdings in Nova Ltd. (NASDAQ:NVMI - Free Report) by 16.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,655 shares of the semiconductor company's stock after selling 5,555 shares during the period. Raymond James Financial Inc. owned about 0.09% of Nova worth $5,098,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Ameriprise Financial Inc. increased its position in Nova by 3.7% in the fourth quarter. Ameriprise Financial Inc. now owns 1,926 shares of the semiconductor company's stock worth $379,000 after buying an additional 68 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Nova by 7.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,269 shares of the semiconductor company's stock worth $234,000 after acquiring an additional 87 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new stake in Nova in the 1st quarter valued at about $26,000. Mackenzie Financial Corp lifted its holdings in Nova by 1.9% during the first quarter. Mackenzie Financial Corp now owns 7,802 shares of the semiconductor company's stock valued at $1,428,000 after purchasing an additional 144 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Nova by 17.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,531 shares of the semiconductor company's stock worth $282,000 after buying an additional 232 shares during the period. 82.99% of the stock is owned by hedge funds and other institutional investors.

Nova Stock Performance

Shares of NVMI traded up $0.93 on Wednesday, hitting $278.15. 445,627 shares of the stock traded hands, compared to its average volume of 427,919. The business has a 50 day simple moving average of $267.89 and a 200 day simple moving average of $228.35. Nova Ltd. has a one year low of $153.99 and a one year high of $291.99. The company has a market capitalization of $8.18 billion, a PE ratio of 37.84, a P/E/G ratio of 2.30 and a beta of 1.72.

Nova (NASDAQ:NVMI - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $2.20 EPS for the quarter, beating the consensus estimate of $2.05 by $0.15. The company had revenue of $219.99 million for the quarter, compared to analysts' expectations of $214.95 million. Nova had a return on equity of 24.36% and a net margin of 29.10%.Nova's revenue was up 40.2% compared to the same quarter last year. During the same period last year, the firm posted $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 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NVMI shares. Bank of America boosted their price target on shares of Nova from $250.00 to $270.00 and gave the company a "buy" rating in a research report 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 reissued an "overweight" rating and issued a $300.00 target price (up previously 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 stock. According to data from MarketBeat, Nova presently has an average rating of "Moderate Buy" and an average target price of $282.50.

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.