abrdn plc Grows Stock Holdings in Nova Ltd. (NASDAQ:NVMI)

abrdn plc increased its holdings in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 16.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 294,332 shares of the semiconductor company's stock after acquiring an additional 41,020 shares during the period. abrdn plc owned about 1.03% of Nova worth $40,438,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UBS Group AG raised its position in Nova by 8.9% during the 3rd quarter. UBS Group AG now owns 43,365 shares of the semiconductor company's stock valued at $4,876,000 after purchasing an additional 3,539 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in Nova by 3.3% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,070,485 shares of the semiconductor company's stock valued at $147,074,000 after purchasing an additional 33,800 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Nova by 2.1% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,312,919 shares of the semiconductor company's stock valued at $147,625,000 after acquiring an additional 27,050 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Nova by 33.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 276,478 shares of the semiconductor company's stock valued at $31,087,000 after acquiring an additional 69,249 shares during the period. Finally, Campbell & CO Investment Adviser LLC increased its holdings in shares of Nova by 83.7% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 8,705 shares of the semiconductor company's stock valued at $979,000 after acquiring an additional 3,966 shares during the period. 82.99% of the stock is owned by institutional investors.

Nova Trading Up 1.8 %

Shares of NASDAQ:NVMI traded up $2.86 on Monday, reaching $162.78. The company had a trading volume of 166,756 shares, compared to its average volume of 156,067. Nova Ltd. has a 52-week low of $87.85 and a 52-week high of $190.51. The firm's 50 day simple moving average is $172.85 and its 200-day simple moving average is $141.76. The firm has a market capitalization of $4.67 billion, a PE ratio of 38.03, a PEG ratio of 6.06 and a beta of 1.41.

Nova (NASDAQ:NVMI - Get Free Report) last announced its earnings results on Thursday, February 15th. The semiconductor company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.14. Nova had a return on equity of 20.55% and a net margin of 26.32%. The firm had revenue of $134.22 million for the quarter, compared to the consensus estimate of $128.00 million. As a group, equities research analysts predict that Nova Ltd. will post 4.87 earnings per share for the current year.

Analyst Ratings Changes

NVMI has been the topic of a number of analyst reports. Benchmark lifted their price target on Nova from $150.00 to $187.00 and gave the company a "buy" rating in a report on Friday, February 16th. Evercore ISI initiated coverage on Nova in a report on Tuesday, April 16th. They issued an "outperform" rating and a $210.00 price target on the stock.

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.