Nova Ltd. (NASDAQ:NVMI) Receives $277.00 Consensus Target Price from Analysts

Shares of Nova Ltd. (NASDAQ:NVMI - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the five research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $277.00.

NVMI has been the topic of a number of recent research reports. Wall Street Zen lowered Nova from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Benchmark decreased their target price 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. Citigroup lowered their target price on shares of Nova from $290.00 to $280.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Bank of America reduced their price target on shares of Nova from $310.00 to $248.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Finally, Cantor Fitzgerald lowered their price objective 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.

Nova Stock Performance

Shares of NASDAQ NVMI traded down $0.97 during mid-day trading on Tuesday, reaching $231.09. The company's stock had a trading volume of 99,101 shares, compared to its average volume of 235,767. The stock has a 50-day moving average of $200.05 and a two-hundred day moving average of $211.44. The stock has a market capitalization of $6.79 billion, a P/E ratio of 34.92, a P/E/G ratio of 2.03 and a beta of 1.61. Nova has a 1-year low of $154.00 and a 1-year high of $289.90.

Nova (NASDAQ:NVMI - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $2.18 EPS for the quarter, beating analysts' consensus estimates 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 quarterly revenue was up 50.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 EPS. Analysts predict that Nova will post 7.52 EPS for the current fiscal year.

Institutional Trading of Nova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ASR Vermogensbeheer N.V. purchased a new stake in shares of Nova in the first quarter valued at about $26,000. Advisors Asset Management Inc. increased 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 valued at $69,000 after purchasing an additional 128 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Nova by 24.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 401 shares of the semiconductor company's stock valued at $79,000 after buying an additional 78 shares in the last quarter. Quarry LP lifted its position in shares of Nova by 187.1% during the 4th quarter. Quarry LP now owns 402 shares of the semiconductor company's stock valued at $79,000 after acquiring an additional 262 shares during the period. Finally, Flaharty Asset Management LLC purchased a new stake in shares of Nova during the 1st quarter worth approximately $92,000. Institutional investors and hedge funds own 82.99% of the company's 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.