Y.D. More Investments Ltd Grows Stock Position in Nova Ltd. (NASDAQ:NVMI)

Key Points

• Y.D. More Investments Ltd increased its stake in Nova Ltd. by 0.5% in Q1, holding 297,921 shares worth approximately $54.5 million, making it the fifth largest position in their portfolio.
• Institutional investors collectively own 82.99% of Nova's stock, with significant increases in holdings noted from firms like Deutsche Bank AG and Vanguard Group.
• Nova Ltd. reported a 50.5% year-over-year revenue increase for the last quarter, achieving earnings of $2.18 per share, exceeding analyst estimates.

Y.D. More Investments Ltd raised its holdings in Nova Ltd. (NASDAQ:NVMI - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 297,921 shares of the semiconductor company's stock after purchasing an additional 1,614 shares during the quarter. Nova makes up about 4.7% of Y.D. More Investments Ltd's investment portfolio, making the stock its 5th largest position. Y.D. More Investments Ltd owned approximately 1.02% of Nova worth $54,511,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Deutsche Bank AG grew its holdings in shares of Nova by 35.0% during the first quarter. Deutsche Bank AG now owns 95,555 shares of the semiconductor company's stock worth $17,614,000 after purchasing an additional 24,771 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new position in shares of Nova in the first quarter valued at about $878,000. ASR Vermogensbeheer N.V. acquired a new position in Nova during the 1st quarter worth about $26,000. Vanguard Group Inc. grew its holdings in Nova by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 1,062,142 shares of the semiconductor company's stock worth $197,195,000 after acquiring an additional 14,360 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Nova by 7.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,269 shares of the semiconductor company's stock worth $234,000 after acquiring an additional 87 shares during the last quarter. Institutional investors own 82.99% of the company's stock.

Nova Price Performance

NVMI opened at $257.71 on Thursday. The firm has a 50 day simple moving average of $255.09 and a 200 day simple moving average of $226.89. Nova Ltd. has a fifty-two week low of $153.99 and a fifty-two week high of $291.99. The company has a market cap of $7.58 billion, a price-to-earnings ratio of 38.93, a price-to-earnings-growth ratio of 2.31 and a beta of 1.67.

Nova (NASDAQ:NVMI - Get Free Report) last issued its earnings results on Thursday, May 8th. The semiconductor company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.08 by $0.10. Nova had a net margin of 28.46% and a return on equity of 23.98%. The company had revenue of $213.36 million during the quarter, compared to analysts' expectations of $210.10 million. During the same quarter in the previous year, the company posted $1.39 EPS. The business's revenue for the quarter was up 50.5% compared to the same quarter last year. As a group, analysts expect that Nova Ltd. will post 7.52 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 target price (up from $250.00) on shares of Nova in a research note on Tuesday, June 24th. Citigroup lowered their price target on shares of Nova from $290.00 to $280.00 and set a "buy" rating for the company in a report on Friday, May 9th. Benchmark reduced 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. Wall Street Zen lowered Nova from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Bank of America lifted their target price on Nova from $250.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $282.50.

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.

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