Oppenheimer Asset Management Inc. Has $2.54 Million Position in Nova Ltd. (NASDAQ:NVMI)

Oppenheimer Asset Management Inc. cut its position in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 9.8% during the first quarter, according to the company in its most recent disclosure 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 quarter. Oppenheimer Asset Management Inc.'s holdings in Nova were worth $2,543,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of research analysts have commented on the company. Benchmark lowered their target price on Nova from $295.00 to $280.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Bank of America increased 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. Citigroup decreased their target price on Nova from $290.00 to $280.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price target (up from $250.00) on shares of Nova in a research note on Tuesday, June 24th. Finally, Wall Street Zen lowered shares of Nova from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Nova currently has an average rating of "Moderate Buy" and a consensus target price of $282.50.

Nova Stock Up 2.8%

Nova stock traded up $7.56 during mid-day trading on Monday, hitting $275.20. 300,308 shares of the company's stock were exchanged, compared to its average volume of 238,345. The company's 50 day simple moving average is $210.68 and its 200-day simple moving average is $214.83. The firm has a market capitalization of $8.09 billion, a P/E ratio of 41.57, a PEG ratio of 2.35 and a beta of 1.61. Nova Ltd. has a fifty-two week low of $154.00 and a fifty-two week high of $289.90.

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