Point72 Asset Management L.P. Sells 13,395 Shares of Nova Ltd. (NASDAQ:NVMI)

Point72 Asset Management L.P. reduced its position in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 55.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,889 shares of the semiconductor company's stock after selling 13,395 shares during the period. Point72 Asset Management L.P.'s holdings in Nova were worth $2,145,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC boosted its stake in Nova by 24.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 401 shares of the semiconductor company's stock worth $79,000 after purchasing an additional 78 shares during the period. Quarry LP boosted its holdings in shares of Nova by 187.1% during the 4th quarter. Quarry LP now owns 402 shares of the semiconductor company's stock worth $79,000 after buying an additional 262 shares during the period. SBI Securities Co. Ltd. acquired a new position in Nova in the 4th quarter valued at $112,000. Quadrant Capital Group LLC lifted its position in 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 acquiring an additional 51 shares during the last quarter. Finally, Advisory Services Network LLC boosted its holdings in Nova by 5.0% during the fourth quarter. Advisory Services Network LLC now owns 1,149 shares of the semiconductor company's stock valued at $226,000 after acquiring an additional 55 shares during the period. Institutional investors and hedge funds own 82.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NVMI. Wall Street Zen raised Nova from a "hold" rating to a "buy" rating in a research report on Thursday. Citigroup lowered their target price on shares of Nova from $290.00 to $280.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Cantor Fitzgerald lowered their price objective on Nova from $315.00 to $300.00 and set an "overweight" rating on the stock in a research note on Friday, March 14th. Needham & Company LLC restated a "hold" rating on shares of Nova in a research note on Friday, February 14th. Finally, Bank of America lowered their target price on shares of Nova from $310.00 to $248.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $277.00.

Nova Trading Down 0.9%

NASDAQ NVMI traded down $1.71 during trading hours on Monday, reaching $183.00. 122,707 shares of the company's stock were exchanged, compared to its average volume of 229,928. The firm has a fifty day moving average of $187.97 and a 200-day moving average of $207.22. Nova Ltd. has a one year low of $154.00 and a one year high of $289.90. The stock has a market cap of $5.38 billion, a PE ratio of 31.88, a price-to-earnings-growth ratio of 2.55 and a beta of 1.66.

Nova (NASDAQ:NVMI - Get Free Report) last announced its earnings results on Thursday, May 8th. The semiconductor company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.08 by $0.10. Nova had a return on equity of 22.33% and a net margin of 27.33%. The company had revenue of $213.36 million for the quarter, compared to analysts' expectations of $210.10 million. During the same quarter in the prior year, the business earned $1.39 earnings per share. The business's revenue for the quarter was up 50.5% on a year-over-year basis. As a group, research analysts forecast that Nova Ltd. will post 7.52 EPS for the current 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.