Nova Ltd. (NASDAQ:NVMI) Receives $264.60 Consensus Target Price from Analysts

Nova Ltd. (NASDAQ:NVMI - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $264.60.

Several analysts have weighed in on the company. Benchmark raised their price target on Nova from $245.00 to $295.00 and gave the company a "buy" rating in a report on Friday, February 14th. Cantor Fitzgerald dropped their target price on shares of Nova from $315.00 to $300.00 and set an "overweight" rating for the company in a research report on Friday, March 14th. Citigroup raised shares of Nova from a "neutral" rating to a "buy" rating and increased their price target for the stock from $226.00 to $240.00 in a report on Monday, January 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of Nova in a report on Friday, February 14th. Finally, Bank of America cut their target price on shares of Nova from $310.00 to $248.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th.

Hedge Funds Weigh In On Nova

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Morse Asset Management Inc increased its stake in shares of Nova by 3.2% in the third quarter. Morse Asset Management Inc now owns 4,030 shares of the semiconductor company's stock worth $840,000 after buying an additional 125 shares during the period. Virtu Financial LLC raised its position in Nova by 33.6% during the 3rd quarter. Virtu Financial LLC now owns 2,938 shares of the semiconductor company's stock valued at $612,000 after purchasing an additional 739 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Nova by 4.6% during the third quarter. Tidal Investments LLC now owns 15,142 shares of the semiconductor company's stock valued at $3,155,000 after buying an additional 661 shares during the period. Franklin Resources Inc. raised its holdings in Nova by 115.1% in the 3rd quarter. Franklin Resources Inc. now owns 661,282 shares of the semiconductor company's stock worth $146,515,000 after purchasing an additional 353,906 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Nova by 253.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 35,327 shares of the semiconductor company's stock worth $7,360,000 after purchasing an additional 25,345 shares during the period. 82.99% of the stock is currently owned by institutional investors.

Nova Trading Up 4.0 %

Shares of NVMI stock traded up $7.83 during trading hours on Monday, reaching $203.48. The stock had a trading volume of 13,675 shares, compared to its average volume of 223,623. The stock's fifty day simple moving average is $198.21 and its 200 day simple moving average is $206.55. The firm has a market capitalization of $5.96 billion, a PE ratio of 35.52, a PEG ratio of 2.55 and a beta of 1.63. Nova has a 12 month low of $154.00 and a 12 month high of $289.90.

Nova (NASDAQ:NVMI - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The semiconductor company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.04). Nova had a net margin of 27.33% and a return on equity of 22.33%. The firm had revenue of $194.77 million during the quarter, compared to the consensus estimate of $186.50 million. As a group, equities research analysts anticipate that Nova will post 7.52 EPS for the current fiscal 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.