Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 41.1% in the 1st quarter, according to its most recent disclosure with the SEC. 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 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Quarry LP lifted its stake in shares of Nova by 187.1% during the 4th quarter. Quarry LP now owns 402 shares of the semiconductor company's stock worth $79,000 after acquiring an additional 262 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Nova by 5.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,030 shares of the semiconductor company's stock valued at $203,000 after purchasing an additional 51 shares during the period. Advisory Services Network LLC grew its holdings 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 worth $226,000 after purchasing an additional 55 shares during the last quarter. Wellington Management Group LLP purchased a new position in Nova in the 4th quarter worth about $237,000. Finally, Janney Montgomery Scott LLC purchased a new stake in Nova in the 1st quarter valued at about $239,000. Institutional investors own 82.99% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on NVMI. Benchmark dropped their price objective on Nova from $295.00 to $280.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Citigroup cut their price objective on shares of Nova from $290.00 to $280.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price objective (up from $250.00) on shares of Nova in a research note on Tuesday, June 24th. 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. Finally, Wall Street Zen cut shares of Nova from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Nova has a consensus rating of "Moderate Buy" and a consensus price target of $282.50.
Check Out Our Latest Analysis on Nova
Nova Price Performance
NASDAQ NVMI traded up $6.88 during trading hours on Thursday, reaching $264.59. The company's stock had a trading volume of 425,805 shares, compared to its average volume of 276,363. Nova Ltd. has a 1-year low of $153.99 and a 1-year high of $291.99. The company's 50-day moving average is $255.09 and its two-hundred day moving average is $226.89. The firm has a market capitalization of $7.78 billion, a price-to-earnings ratio of 40.05, a P/E/G ratio of 2.31 and a beta of 1.67.
Nova (NASDAQ:NVMI - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $2.18 earnings per share for the quarter, topping 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 firm had revenue of $213.36 million during the quarter, compared to the consensus estimate of $210.10 million. During the same quarter in the prior year, the firm earned $1.39 EPS. The company's revenue for the quarter was up 50.5% on a year-over-year basis. Equities analysts forecast that Nova Ltd. will post 7.52 EPS for the current fiscal year.
Nova Company Profile
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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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