Retirement Systems of Alabama bought a new stake in Nova Ltd. (NASDAQ:NVMI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,619 shares of the semiconductor company's stock, valued at approximately $1,957,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Alliancebernstein L.P. grew its holdings 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 worth $1,120,000 after purchasing an additional 44 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Nova by 3.6% in the 4th quarter. NewEdge Advisors LLC now owns 1,339 shares of the semiconductor company's stock worth $264,000 after purchasing an additional 47 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Nova by 5.2% in 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 raised its position in Nova by 5.0% in the 4th 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 during the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its position in Nova by 1.3% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 4,742 shares of the semiconductor company's stock worth $935,000 after buying an additional 63 shares during the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on NVMI shares. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price target (up from $250.00) on shares of Nova in a research note on Tuesday. 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 report on Friday, May 9th. Bank of America upped their price target on shares of Nova from $250.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday. Benchmark decreased their price target on shares of Nova from $295.00 to $280.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Finally, Wall Street Zen cut shares of Nova from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Nova currently has a consensus rating of "Moderate Buy" and a consensus price target of $282.50.
Get Our Latest Research Report on Nova
Nova Price Performance
Shares of Nova stock opened at $268.88 on Friday. Nova Ltd. has a 1 year low of $154.00 and a 1 year high of $289.90. The firm's 50-day moving average is $204.93 and its two-hundred day moving average is $212.88. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 40.62, a PEG ratio of 2.24 and a beta of 1.61.
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, beating the consensus estimate 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 company's quarterly revenue was up 50.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.39 earnings per share. On average, equities analysts expect that Nova Ltd. will post 7.52 earnings per share for the current year.
Nova Company Profile
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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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