Nova Ltd. (NASDAQ:NVMI) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Nova Ltd. (NASDAQ:NVMI - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $277.00.

NVMI has been the topic of a number of recent research reports. Bank of America cut their target price on Nova from $310.00 to $248.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Benchmark lowered their price target 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 raised shares of Nova from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Citigroup lowered their target price on shares of Nova from $290.00 to $280.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Finally, Cantor Fitzgerald dropped their price target on shares of Nova from $315.00 to $300.00 and set an "overweight" rating on the stock in a research report on Friday, March 14th.

Nova Price Performance

Shares of NASDAQ:NVMI traded up $2.80 during trading on Friday, reaching $200.89. 336,339 shares of the company's stock traded hands, compared to its average volume of 231,347. The stock has a market capitalization of $5.91 billion, a P/E ratio of 35.00, a price-to-earnings-growth ratio of 2.55 and a beta of 1.66. Nova has a 12 month low of $154.00 and a 12 month high of $289.90. The company has a 50 day moving average of $187.75 and a 200-day moving average of $207.01.

Nova (NASDAQ:NVMI - Get Free Report) last posted 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. The company had revenue of $213.36 million during the quarter, compared to analyst estimates of $210.10 million. Nova had a return on equity of 22.33% and a net margin of 27.33%. The business's revenue was up 50.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.39 earnings per share. Equities research analysts predict that Nova will post 7.52 earnings per share for the current fiscal year.

Institutional Trading of Nova

Institutional investors have recently modified their holdings of the company. ASR Vermogensbeheer N.V. bought a new stake in Nova in the first quarter worth about $26,000. Advisors Asset Management Inc. raised its holdings in shares of Nova by 51.6% in the 1st quarter. Advisors Asset Management Inc. now owns 376 shares of the semiconductor company's stock worth $69,000 after purchasing an additional 128 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Nova by 24.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 401 shares of the semiconductor company's stock valued at $79,000 after purchasing an additional 78 shares during the last quarter. Quarry LP boosted its holdings in Nova by 187.1% during the fourth quarter. Quarry LP now owns 402 shares of the semiconductor company's stock worth $79,000 after buying an additional 262 shares in the last quarter. Finally, Flaharty Asset Management LLC bought a new position in shares of Nova in the first quarter valued at $92,000. Institutional investors and hedge funds own 82.99% of the company's stock.

About Nova

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.