Redwood Investments LLC Trims Stock Holdings in Nova Ltd. $NVMI

Key Points

• Redwood Investments LLC reduced its stake in Nova Ltd. by 19.7%, now owning about 15,433 shares valued at $2,845,000 at the end of the first quarter.
• Multiple hedge funds have made adjustments to their positions in Nova, with Granahan Investment Management significantly increasing its stake by 153.5%, currently owning 50,874 shares.
• Nova reported earnings of $2.20 per share, surpassing estimates, with revenue up 40.2% compared to the same quarter last year, reflecting its strong performance in the semiconductor industry.

Redwood Investments LLC decreased its position in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 19.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,433 shares of the semiconductor company's stock after selling 3,786 shares during the period. Redwood Investments LLC owned about 0.05% of Nova worth $2,845,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NVMI. Dimensional Fund Advisors LP raised its position in Nova by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 22,472 shares of the semiconductor company's stock valued at $4,426,000 after purchasing an additional 877 shares in the last quarter. Stifel Financial Corp raised its position in Nova by 15.4% in the 4th quarter. Stifel Financial Corp now owns 3,290 shares of the semiconductor company's stock valued at $648,000 after purchasing an additional 438 shares in the last quarter. Ameriprise Financial Inc. raised its position in Nova by 3.7% in the 4th quarter. Ameriprise Financial Inc. now owns 1,926 shares of the semiconductor company's stock valued at $379,000 after purchasing an additional 68 shares in the last quarter. BNP Paribas Financial Markets raised its position in Nova by 209.2% in the 4th quarter. BNP Paribas Financial Markets now owns 67,981 shares of the semiconductor company's stock valued at $13,389,000 after purchasing an additional 45,994 shares in the last quarter. Finally, Granahan Investment Management LLC raised its position in Nova by 16.3% in the 4th quarter. Granahan Investment Management LLC now owns 20,068 shares of the semiconductor company's stock valued at $3,952,000 after purchasing an additional 2,819 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company's stock.

Nova Price Performance

NVMI stock traded up $4.91 during trading on Friday, reaching $293.10. 285,049 shares of the stock traded hands, compared to its average volume of 463,437. The business's 50 day moving average price is $268.12 and its 200-day moving average price is $228.68. Nova Ltd. has a 52-week low of $153.99 and a 52-week high of $296.66. The firm has a market capitalization of $8.62 billion, a PE ratio of 39.88, a P/E/G ratio of 2.39 and a beta of 1.72.

Nova (NASDAQ:NVMI - Get Free Report) last issued its earnings results on Thursday, August 7th. The semiconductor company reported $2.20 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $214.95 million. During the same quarter in the prior year, the business earned $1.61 earnings per share. The company's revenue was up 40.2% compared to the same quarter last year. Nova has set its Q3 2025 guidance at 2.020-2.220 EPS. On average, equities research analysts predict that Nova Ltd. will post 7.52 earnings per share for the current year.

Analyst Ratings Changes

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