Nova Ltd. (NASDAQ:NVMI) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of Nova Ltd. (NASDAQ:NVMI - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $282.50.

A number of equities analysts have recently issued reports on NVMI shares. Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 target price (up from $250.00) on shares of Nova in a research note on Tuesday, June 24th. Bank of America increased their target price on Nova from $250.00 to $270.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Wall Street Zen cut Nova from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Benchmark lowered their target price on Nova from $295.00 to $280.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Citigroup lowered their target price on Nova from $290.00 to $280.00 and set a "buy" rating on the stock in a report on Friday, May 9th.

Institutional Investors Weigh In On Nova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Retirement Systems of Alabama acquired a new stake in Nova during the 1st quarter valued at $1,957,000. Janney Montgomery Scott LLC acquired a new position in shares of Nova during the first quarter valued at about $239,000. Dimensional Fund Advisors LP raised its position in shares of Nova by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 22,472 shares of the semiconductor company's stock valued at $4,426,000 after buying an additional 877 shares during the last quarter. Wellington Management Group LLP acquired a new position in Nova in the fourth quarter worth about $237,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Nova by 26.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,299 shares of the semiconductor company's stock worth $256,000 after purchasing an additional 269 shares in the last quarter. Institutional investors own 82.99% of the company's stock.

Nova Stock Performance

NASDAQ:NVMI opened at $284.16 on Friday. Nova has a one year low of $154.00 and a one year high of $291.99. The stock has a market cap of $8.35 billion, a PE ratio of 42.92, a P/E/G ratio of 2.48 and a beta of 1.66. The stock has a 50 day moving average price of $226.65 and a 200 day moving average price of $219.85.

Nova (NASDAQ:NVMI - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.08 by $0.10. Nova had a return on equity of 23.98% and a net margin of 28.46%. The business had revenue of $213.36 million during the quarter, compared to analyst estimates of $210.10 million. During the same period last year, the business posted $1.39 earnings per share. The company's quarterly revenue was up 50.5% on a year-over-year basis. As a group, analysts predict that Nova will post 7.52 earnings per share 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.

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