Voloridge Investment Management LLC boosted its position in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 36.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,090 shares of the semiconductor company's stock after purchasing an additional 44,951 shares during the period. Voloridge Investment Management LLC owned about 0.58% of Nova worth $32,908,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC grew its holdings in shares of Nova by 352.8% in the 4th quarter. SG Americas Securities LLC now owns 3,618 shares of the semiconductor company's stock valued at $713,000 after acquiring an additional 2,819 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Nova by 1.0% in the 4th 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 acquiring an additional 11,915 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Nova by 21.6% in the 4th quarter. Blue Trust Inc. now owns 1,462 shares of the semiconductor company's stock valued at $305,000 after acquiring an additional 260 shares in the last quarter. Swedbank AB bought a new position in shares of Nova in the 4th quarter valued at about $2,954,000. Finally, SkyOak Wealth LLC bought a new position in shares of Nova in the 4th quarter valued at about $327,000. Institutional investors and hedge funds own 82.99% of the company's stock.
Nova Price Performance
NVMI traded up $15.01 during trading on Tuesday, hitting $198.01. 96,397 shares of the stock traded hands, compared to its average volume of 229,427. Nova Ltd. has a twelve month low of $154.00 and a twelve month high of $289.90. The company has a market cap of $5.82 billion, a price-to-earnings ratio of 34.43, a PEG ratio of 2.55 and a beta of 1.66. The business has a 50 day moving average price of $187.72 and a 200 day moving average price of $207.12.
Nova (NASDAQ:NVMI - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.10. The company had revenue of $213.36 million during the quarter, compared to the consensus estimate of $210.10 million. Nova had a net margin of 27.33% and a return on equity of 22.33%. The company's revenue for the quarter was up 50.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.39 earnings per share. On average, equities research analysts predict that Nova Ltd. will post 7.52 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Citigroup cut their target price on shares of Nova from $290.00 to $280.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Bank of America cut their target price on shares of Nova from $310.00 to $248.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Wall Street Zen upgraded shares of Nova from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Needham & Company LLC reiterated a "hold" rating on shares of Nova in a research note on Friday, February 14th. Finally, Cantor Fitzgerald cut their target price on shares of Nova from $315.00 to $300.00 and set an "overweight" rating for the company in a research note on Friday, March 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Nova has a consensus rating of "Moderate Buy" and an average target price of $277.00.
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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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