Nova Ltd. (NASDAQ:NVMI) Stock Holdings Lessened by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Nova Ltd. (NASDAQ:NVMI - Free Report) by 41.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,406 shares of the semiconductor company's stock after selling 5,170 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Nova were worth $1,352,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of NVMI. TD Asset Management Inc lifted its stake in Nova by 152.1% in the 1st quarter. TD Asset Management Inc now owns 11,493 shares of the semiconductor company's stock worth $2,098,000 after purchasing an additional 6,934 shares in the last quarter. Phoenix Financial Ltd. lifted its position in Nova by 17.9% during the first quarter. Phoenix Financial Ltd. now owns 309,436 shares of the semiconductor company's stock valued at $57,072,000 after acquiring an additional 46,896 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Nova by 2.4% in the first quarter. Assetmark Inc. now owns 36,746 shares of the semiconductor company's stock worth $6,773,000 after buying an additional 852 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Nova by 5.1% in the first quarter. Cetera Investment Advisers now owns 5,009 shares of the semiconductor company's stock worth $923,000 after acquiring an additional 242 shares during the period. Finally, Carnegie Investment Counsel acquired a new stake in Nova during the first quarter valued at $527,000. Hedge funds and other institutional investors own 82.99% of the company's stock.

Nova Trading Down 3.4%

NVMI traded down $9.27 during trading on Tuesday, hitting $263.48. 201,141 shares of the company's stock were exchanged, compared to its average volume of 275,654. Nova Ltd. has a 1 year low of $153.99 and a 1 year high of $291.99. The stock has a 50 day moving average price of $253.95 and a 200 day moving average price of $226.67. The firm has a market cap of $7.75 billion, a P/E ratio of 39.80, a price-to-earnings-growth ratio of 2.39 and a beta of 1.67.

Nova (NASDAQ:NVMI - Get Free Report) last released its quarterly earnings data 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 28.46% and a return on equity of 23.98%. Nova's revenue for the quarter was up 50.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.39 earnings per share. Analysts forecast that Nova Ltd. will post 7.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NVMI shares. Wall Street Zen lowered shares of Nova from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 target price (up from $250.00) on shares of Nova in a research note on Tuesday, June 24th. Benchmark dropped their price objective on shares of Nova from $295.00 to $280.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Bank of America increased their target price on shares of Nova from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Finally, Citigroup lowered their price objective on shares of Nova from $290.00 to $280.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Nova presently 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.