Vanguard Group Inc. Acquires 15,195 Shares of Nova Ltd. $NVMI

Key Points

• Vanguard increased its stake by 1.4% (adding 15,195 shares) and now owns 1,128,957 shares—about 3.84% of Nova, valued at $377.4 million per its SEC filing.
• Nova slightly beat quarterly expectations (EPS $2.14 vs. $2.13; revenue $222.6M, up 14.3% year-over-year), and analysts hold a consensus Moderate Buy with an average target of $442.25.
• Shares are trading near their 12‑month high (opened $534.54; 12‑month high $550), the company has a market cap of ~$17B and a high valuation (P/E ~66.7), with institutional ownership around 83%.

Vanguard Group Inc. increased its holdings in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,128,957 shares of the semiconductor company's stock after purchasing an additional 15,195 shares during the period. Vanguard Group Inc. owned 3.84% of Nova worth $377,402,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Nova by 3.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,200 shares of the semiconductor company's stock valued at $375,000 after purchasing an additional 37 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Nova by 4.5% during the fourth quarter. Signaturefd LLC now owns 992 shares of the semiconductor company's stock valued at $326,000 after purchasing an additional 43 shares in the last quarter. Bank Hapoalim BM lifted its position in Nova by 5.1% during the third quarter. Bank Hapoalim BM now owns 910 shares of the semiconductor company's stock valued at $291,000 after acquiring an additional 44 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Nova by 16.1% in the fourth quarter. Farther Finance Advisors LLC now owns 347 shares of the semiconductor company's stock valued at $114,000 after acquiring an additional 48 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Nova by 1.0% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 4,947 shares of the semiconductor company's stock worth $1,581,000 after purchasing an additional 51 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors.

Nova Trading Up 3.7%

NASDAQ NVMI opened at $534.54 on Thursday. Nova Ltd. has a 12-month low of $176.52 and a 12-month high of $550.00. The company has a fifty day simple moving average of $471.21 and a two-hundred day simple moving average of $404.42. The company has a current ratio of 6.28, a quick ratio of 5.47 and a debt-to-equity ratio of 0.56. The stock has a market cap of $16.99 billion, a P/E ratio of 66.73, a P/E/G ratio of 3.77 and a beta of 1.78.

Nova (NASDAQ:NVMI - Get Free Report) last released its earnings results on Friday, February 13th. The semiconductor company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.01. The firm had revenue of $222.62 million for the quarter, compared to the consensus estimate of $220.43 million. Nova had a return on equity of 22.90% and a net margin of 29.44%.The firm's revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.94 EPS. On average, analysts forecast that Nova Ltd. will post 9.37 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NVMI. Zacks Research downgraded Nova from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 14th. Citigroup boosted their target price on Nova from $370.00 to $520.00 and gave the stock a "buy" rating in a research note on Friday, February 13th. Wall Street Zen lowered Nova from a "hold" rating to a "sell" rating in a research report on Saturday, May 2nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Nova in a research note on Friday, April 10th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $520.00 price target on shares of Nova in a report on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $442.25.

Nova Profile

Nova Measuring Instruments Ltd NASDAQ: NVMI develops and supplies advanced metrology and process control systems for the semiconductor manufacturing industry. The company's core product line includes spectroscopic ellipsometry and scatterometry tools designed to measure film thickness, critical dimensions, overlay alignment and other key parameters that drive yield and performance in integrated circuit fabrication.

Founded in 1993 and headquartered in Rehovot, Israel, Nova Measuring Instruments has established itself as a critical partner to leading semiconductor foundries and device manufacturers.

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