USS Investment Management Ltd Acquires New Shares in Nova Ltd. (NASDAQ:NVMI)

USS Investment Management Ltd acquired a new stake in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,332 shares of the semiconductor company's stock, valued at approximately $2,232,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC boosted its position in shares of Nova by 352.8% during the fourth quarter. SG Americas Securities LLC now owns 3,618 shares of the semiconductor company's stock valued at $713,000 after buying an additional 2,819 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Nova by 1.0% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,169,625 shares of the semiconductor company's stock valued at $230,358,000 after buying an additional 11,915 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Nova by 21.6% during the fourth quarter. Blue Trust Inc. now owns 1,462 shares of the semiconductor company's stock valued at $305,000 after buying an additional 260 shares during the last quarter. Swedbank AB purchased a new position in shares of Nova during the fourth quarter valued at approximately $2,954,000. Finally, SkyOak Wealth LLC purchased a new position in shares of Nova during the fourth quarter valued at approximately $327,000. Institutional investors own 82.99% of the company's stock.

Nova Stock Up 8.2%

NVMI stock traded up $15.09 during midday trading on Tuesday, hitting $198.09. The company's stock had a trading volume of 364,177 shares, compared to its average volume of 230,475. The stock's 50-day moving average price is $187.72 and its 200 day moving average price is $207.12. Nova Ltd. has a 1 year low of $154.00 and a 1 year high of $289.90. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 34.51, a PEG ratio of 2.55 and a beta of 1.66.

Nova (NASDAQ:NVMI - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.10. Nova had a return on equity of 22.33% and a net margin of 27.33%. The firm 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 firm earned $1.39 EPS. The business's revenue for the quarter was up 50.5% compared to the same quarter last year. As a group, equities analysts forecast that Nova Ltd. will post 7.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NVMI has been the topic of several analyst reports. Benchmark cut their target price on Nova from $295.00 to $280.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Wall Street Zen raised Nova from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Citigroup cut their price objective on Nova from $290.00 to $280.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Bank of America cut their price objective on Nova from $310.00 to $248.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Nova in a research report on Friday, February 14th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $277.00.

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.