Nova Ltd. $NVMI Shares Sold by Tower View Wealth Management LLC

Key Points

• Tower View Wealth Management LLC trimmed its stake in Nova by 11.0% in Q4, selling 2,157 shares and leaving it with 17,400 shares worth about $5.71 million (2.8% of the firm's holdings; Nova is its 13th largest position).
• Nova reported a slight beat with $2.14 EPS (vs. $2.13 est.) and revenue of $222.6 million, up 14.3% year-over-year, alongside a 29.4% net margin and 22.9% ROE.
• Shares are trading near a 12-month high (about $507, up 2.2%), market cap ~$16.1B and a PE of 63.3; analysts have a consensus Buy rating with an average target of $442.25, while some firms (e.g., Citigroup) target as high as $520.

Tower View Wealth Management LLC lessened its stake in Nova Ltd. (NASDAQ:NVMI - Free Report) by 11.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,400 shares of the semiconductor company's stock after selling 2,157 shares during the quarter. Nova comprises about 2.8% of Tower View Wealth Management LLC's holdings, making the stock its 13th largest holding. Tower View Wealth Management LLC owned 0.06% of Nova worth $5,714,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC acquired a new stake in shares of Nova in the third quarter valued at approximately $40,000. CIBC Private Wealth Group LLC increased its holdings in shares of 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 purchasing an additional 56 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 purchasing an additional 143 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of 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 purchasing an additional 128 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of 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 purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 82.99% of the company's stock.

Nova Trading Up 2.2%

Shares of NASDAQ NVMI opened at $507.03 on Tuesday. Nova Ltd. has a twelve month low of $168.18 and a twelve month high of $509.12. The company has a current ratio of 6.28, a quick ratio of 5.47 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $449.13 and a 200-day simple moving average of $383.35. The stock has a market capitalization of $16.11 billion, a PE ratio of 63.30, a PEG ratio of 3.63 and a beta of 1.80.

Nova (NASDAQ:NVMI - Get Free Report) last issued its quarterly earnings data on Friday, February 13th. The semiconductor company reported $2.14 earnings per share for the quarter, beating 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 business had revenue of $222.62 million during the quarter, compared to analysts' expectations of $220.43 million. During the same period in the previous year, the firm posted $1.94 earnings per share. The company's revenue was up 14.3% on a year-over-year basis. On average, equities analysts forecast that Nova Ltd. will post 7.52 earnings per share for the current year.

Wall Street Analyst Weigh In

NVMI has been the subject of several recent analyst reports. Morgan Stanley reissued an "outperform" rating and set a $453.00 target price on shares of Nova in a research note on Friday, February 13th. Barclays initiated coverage on Nova in a research note on Wednesday, March 11th. They set an "overweight" rating and a $465.00 target price for the company. Citigroup raised their target price on Nova from $370.00 to $520.00 and gave the stock a "buy" rating in a research note on Friday, February 13th. Weiss Ratings reissued a "hold (c)" rating on shares of Nova in a research note on Friday. Finally, Evercore reissued an "outperform" rating and set a $485.00 target price on shares of Nova in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $442.25.

About Nova

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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