XTX Topco Ltd Buys New Shares in Nova Ltd. (NASDAQ:NVMI)

Key Points

• XTX Topco Ltd acquired 1,352 shares of Nova Ltd. in Q1, valued at approximately $249,000.
• Nova Ltd. recently reported $2.20 EPS for the last quarter, exceeding estimates and showing a 40.2% increase in revenue year-over-year.
• Analysts have a consensus rating of "Moderate Buy" for Nova, with an average price target of $282.50.

XTX Topco Ltd purchased a new stake in Nova Ltd. (NASDAQ:NVMI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,352 shares of the semiconductor company's stock, valued at approximately $249,000.

Other institutional investors have also recently modified their holdings of the company. Quarry LP boosted its stake in shares of Nova by 187.1% in the fourth quarter. Quarry LP now owns 402 shares of the semiconductor company's stock valued at $79,000 after buying an additional 262 shares in the last quarter. Advisory Services Network LLC boosted its stake in shares of Nova by 5.0% in the fourth quarter. Advisory Services Network LLC now owns 1,149 shares of the semiconductor company's stock valued at $226,000 after buying an additional 55 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Nova during the fourth quarter worth $237,000. Wealth Enhancement Advisory Services LLC boosted its position in Nova by 26.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,299 shares of the semiconductor company's stock worth $256,000 after purchasing an additional 269 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Nova during the first quarter worth $239,000. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVMI has been the topic of a number of research analyst reports. Wall Street Zen downgraded Nova from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Bank of America boosted their target price on Nova from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Citigroup decreased their target price on Nova from $290.00 to $280.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Benchmark decreased 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. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 target price (up from $250.00) on shares of Nova in a research report on Tuesday, June 24th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Nova currently has an average rating of "Moderate Buy" and a consensus target price of $282.50.

Nova Trading Down 6.1%

Shares of NASDAQ NVMI traded down $16.48 during trading on Friday, reaching $254.35. The company had a trading volume of 273,587 shares, compared to its average volume of 259,894. Nova Ltd. has a twelve month low of $153.99 and a twelve month high of $291.99. The stock has a market capitalization of $7.48 billion, a PE ratio of 34.61, a price-to-earnings-growth ratio of 2.12 and a beta of 1.67. The stock has a 50-day moving average price of $262.46 and a two-hundred day moving average price of $227.96.

Nova (NASDAQ:NVMI - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $2.20 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.15. Nova had a return on equity of 24.36% and a net margin of 29.10%. The company had revenue of $219.99 million during the quarter, compared to analysts' expectations of $214.95 million. During the same period in the previous year, the firm posted $1.61 earnings per share. The business's revenue for the quarter was up 40.2% compared to the same quarter last year. On average, sell-side analysts predict that Nova Ltd. will post 7.52 EPS for the current year.

Nova Company 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.