Principal Financial Group Inc. decreased its holdings in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,809 shares of the semiconductor company's stock after selling 11,305 shares during the period. Principal Financial Group Inc. owned approximately 0.27% of Nova worth $14,527,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in the business. Wasatch Advisors LP lifted its stake in Nova by 49.3% during the fourth quarter. Wasatch Advisors LP now owns 2,411,677 shares of the semiconductor company's stock valued at $474,980,000 after buying an additional 796,629 shares in the last quarter. Vanguard Group Inc. lifted its stake in Nova by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,047,782 shares of the semiconductor company's stock valued at $205,985,000 after buying an additional 14,667 shares in the last quarter. Franklin Resources Inc. lifted its stake in Nova by 2.0% during the fourth quarter. Franklin Resources Inc. now owns 674,453 shares of the semiconductor company's stock valued at $132,834,000 after buying an additional 13,171 shares in the last quarter. Capital World Investors lifted its stake in Nova by 33.3% during the fourth quarter. Capital World Investors now owns 600,868 shares of the semiconductor company's stock valued at $118,341,000 after buying an additional 150,000 shares in the last quarter. Finally, Polar Capital Holdings Plc lifted its stake in Nova by 504.5% during the fourth quarter. Polar Capital Holdings Plc now owns 354,302 shares of the semiconductor company's stock valued at $69,780,000 after buying an additional 295,691 shares in the last quarter. Institutional investors own 82.99% of the company's stock.
Analyst Ratings Changes
NVMI has been the subject of a number of analyst reports. 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, June 24th. Wall Street Zen lowered shares of Nova from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Benchmark reduced their price objective on shares of Nova from $295.00 to $280.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 price objective (up from $250.00) on shares of Nova in a research note on Tuesday, June 24th. Finally, Citigroup reduced their price target on shares of Nova from $290.00 to $280.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $282.50.
Read Our Latest Stock Analysis on NVMI
Nova Stock Performance
Shares of NASDAQ NVMI traded down $10.67 during mid-day trading on Wednesday, reaching $275.24. The company had a trading volume of 616,810 shares, compared to its average volume of 244,439. The stock has a fifty day moving average of $230.21 and a two-hundred day moving average of $221.11. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of 41.58, a PEG ratio of 2.47 and a beta of 1.66. Nova Ltd. has a 12-month low of $154.00 and a 12-month high of $291.99.
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, topping analysts' consensus estimates of $2.08 by $0.10. The business had revenue of $213.36 million during the quarter, compared to analyst estimates of $210.10 million. Nova had a net margin of 28.46% and a return on equity of 23.98%. The firm's revenue was up 50.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.39 earnings per share. Sell-side analysts forecast that Nova Ltd. will post 7.52 earnings per share for the current fiscal year.
About Nova
(
Free Report)
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.
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