Nova Ltd. (NASDAQ:NVMI) Holdings Raised by TD Asset Management Inc

Key Points

• TD Asset Management Inc. increased its stock position in Nova Ltd. by 152.1% in Q1, owning 11,493 shares valued at approximately $2.1 million.
• Nova Ltd. reported an earnings per share of $2.18, beating estimates of $2.08, with a revenue of $213.36 million for the quarter, reflecting a 50.5% year-over-year increase.
• Investment analysts have mixed ratings on Nova, with two rating it as a "hold" and four as a "buy," leading to a consensus rating of "Moderate Buy" and an average price target of $282.50.

TD Asset Management Inc increased its position in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 152.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,493 shares of the semiconductor company's stock after acquiring an additional 6,934 shares during the quarter. TD Asset Management Inc's holdings in Nova were worth $2,098,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wasatch Advisors LP boosted its holdings in shares of Nova by 49.3% in the 4th quarter. Wasatch Advisors LP now owns 2,411,677 shares of the semiconductor company's stock valued at $474,980,000 after acquiring an additional 796,629 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in Nova by 3.7% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,212,485 shares of the semiconductor company's stock worth $223,497,000 after acquiring an additional 42,860 shares during the period. Vanguard Group Inc. raised its position in Nova by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,047,782 shares of the semiconductor company's stock worth $205,985,000 after acquiring an additional 14,667 shares during the period. Capital World Investors raised its position in Nova by 33.3% during the fourth quarter. Capital World Investors now owns 600,868 shares of the semiconductor company's stock worth $118,341,000 after acquiring an additional 150,000 shares during the period. Finally, Polar Capital Holdings Plc raised its position in shares of Nova by 504.5% in 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 during the last quarter. Institutional investors own 82.99% of the company's stock.

Nova Price Performance

NASDAQ:NVMI traded down $9.24 on Wednesday, reaching $254.24. The stock had a trading volume of 140,450 shares, compared to its average volume of 273,627. The company has a market cap of $7.47 billion, a price-to-earnings ratio of 38.34, a P/E/G ratio of 2.39 and a beta of 1.67. The firm's fifty day moving average is $253.95 and its two-hundred day moving average is $226.67. Nova Ltd. has a 12-month low of $153.99 and a 12-month high of $291.99.

Nova (NASDAQ:NVMI - Get Free Report) last posted its 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. Nova had a net margin of 28.46% and a return on equity of 23.98%. The firm had revenue of $213.36 million during the quarter, compared to the consensus estimate of $210.10 million. During the same quarter in the prior year, the company earned $1.39 EPS. The company's revenue was up 50.5% on a year-over-year basis. As a group, research analysts forecast that Nova Ltd. will post 7.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NVMI shares. Citigroup cut their price objective 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. Wall Street Zen cut shares of Nova from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Benchmark lowered 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. Bank of America raised 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. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price target (up previously from $250.00) on shares of Nova in a research note on Tuesday, June 24th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $282.50.

About Nova

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.