Nova Ltd. (NASDAQ:NVMI) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its holdings in Nova Ltd. (NASDAQ:NVMI - Free Report) by 9.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,798 shares of the semiconductor company's stock after selling 1,498 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Nova were worth $2,543,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NVMI. Alliancebernstein L.P. boosted its stake in shares of Nova by 0.8% during the fourth quarter. Alliancebernstein L.P. now owns 5,688 shares of the semiconductor company's stock valued at $1,120,000 after acquiring an additional 44 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Nova by 3.6% in the 4th quarter. NewEdge Advisors LLC now owns 1,339 shares of the semiconductor company's stock valued at $264,000 after purchasing an additional 47 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Nova by 5.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,030 shares of the semiconductor company's stock worth $203,000 after purchasing an additional 51 shares during the last quarter. Advisory Services Network LLC grew its holdings in shares of Nova by 5.0% during the fourth quarter. Advisory Services Network LLC now owns 1,149 shares of the semiconductor company's stock worth $226,000 after buying an additional 55 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its position in shares of Nova by 1.3% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 4,742 shares of the semiconductor company's stock valued at $935,000 after buying an additional 63 shares during the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on NVMI shares. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 target price (up previously from $250.00) on shares of Nova in a research report on Tuesday. Citigroup dropped their target price on Nova from $290.00 to $280.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Wall Street Zen lowered Nova from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Benchmark lowered their price target on Nova from $295.00 to $280.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Bank of America upped their price objective on shares of Nova from $250.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $282.50.

Nova Stock Down 0.5%

Shares of NVMI stock traded down $1.24 on Friday, reaching $267.64. 206,517 shares of the stock were exchanged, compared to its average volume of 237,189. The stock has a market cap of $7.87 billion, a P/E ratio of 40.43, a price-to-earnings-growth ratio of 2.24 and a beta of 1.61. The firm has a 50 day moving average of $206.79 and a two-hundred day moving average of $213.36. Nova Ltd. has a 1-year low of $154.00 and a 1-year high of $289.90.

Nova (NASDAQ:NVMI - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $2.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.10. The firm had revenue of $213.36 million during the quarter, compared to the consensus estimate of $210.10 million. Nova had a return on equity of 23.98% and a net margin of 28.46%. The firm's quarterly revenue was up 50.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.39 earnings per share. On average, equities research analysts predict that Nova Ltd. will post 7.52 EPS for the current fiscal year.

Nova 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.