TimesSquare Capital Management LLC increased its position in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 83.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,270 shares of the semiconductor company's stock after buying an additional 21,540 shares during the quarter. TimesSquare Capital Management LLC owned 0.16% of Nova worth $8,713,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in NVMI. Steward Partners Investment Advisory LLC boosted its holdings in Nova by 24.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 401 shares of the semiconductor company's stock valued at $79,000 after purchasing an additional 78 shares in the last quarter. Quarry LP boosted its holdings in Nova by 187.1% during the fourth quarter. Quarry LP now owns 402 shares of the semiconductor company's stock valued at $79,000 after purchasing an additional 262 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in Nova by 5.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,030 shares of the semiconductor company's stock valued at $203,000 after purchasing an additional 51 shares in the last quarter. 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 purchasing an additional 55 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Nova by 79.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,182 shares of the semiconductor company's stock valued at $233,000 after purchasing an additional 524 shares in the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.
Nova Price Performance
Shares of NVMI traded up $1.17 on Friday, hitting $277.39. The company's stock had a trading volume of 47,906 shares, compared to its average volume of 243,581. The company has a market capitalization of $8.16 billion, a PE ratio of 41.83, a PEG ratio of 2.41 and a beta of 1.66. Nova Ltd. has a fifty-two week low of $154.00 and a fifty-two week high of $291.99. The company has a 50 day moving average price of $231.70 and a 200 day moving average price of $221.49.
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. The business had revenue of $213.36 million for the quarter, compared to the consensus estimate of $210.10 million. Nova had a return on equity of 23.98% and a net margin of 28.46%. Nova's revenue was up 50.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.39 EPS. On average, equities analysts forecast that Nova Ltd. will post 7.52 EPS for the current year.
Analysts Set New Price Targets
NVMI has been the topic of a number of recent research reports. Benchmark decreased their price objective on Nova from $295.00 to $280.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Citigroup decreased their price objective on 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 lifted their price objective on Nova from $250.00 to $270.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Wall Street Zen downgraded Nova from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 target price (up from $250.00) on shares of Nova in a report on Tuesday, June 24th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $282.50.
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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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