Deutsche Bank AG Lowers Stock Holdings in Nova Ltd. (NASDAQ:NVMI)

Deutsche Bank AG reduced its stake in Nova Ltd. (NASDAQ:NVMI - Free Report) by 41.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,784 shares of the semiconductor company's stock after selling 50,721 shares during the quarter. Deutsche Bank AG owned about 0.24% of Nova worth $13,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Concentric Capital Strategies LP raised its position in shares of Nova by 122.5% during the 4th quarter. Concentric Capital Strategies LP now owns 18,062 shares of the semiconductor company's stock valued at $3,557,000 after buying an additional 9,944 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in Nova by 66.4% during the fourth quarter. Cubist Systematic Strategies LLC now owns 52,720 shares of the semiconductor company's stock worth $10,383,000 after purchasing an additional 21,046 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Nova by 209.2% in the 4th quarter. BNP Paribas Financial Markets now owns 67,981 shares of the semiconductor company's stock worth $13,389,000 after purchasing an additional 45,994 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Nova by 3.7% during the 4th quarter. Ameriprise Financial Inc. now owns 1,926 shares of the semiconductor company's stock valued at $379,000 after purchasing an additional 68 shares during the last quarter. Finally, Quarry LP increased 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 purchasing an additional 262 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors.

Nova Trading Down 0.4%

Nova stock traded down $0.78 during trading hours on Wednesday, hitting $188.08. 22,504 shares of the stock traded hands, compared to its average volume of 229,136. Nova Ltd. has a one year low of $154.00 and a one year high of $289.90. The firm's 50-day moving average price is $189.41 and its two-hundred day moving average price is $207.24. The company has a market cap of $5.53 billion, a PE ratio of 32.77, a PEG ratio of 2.55 and a beta of 1.66.

Nova (NASDAQ:NVMI - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.10. The company had revenue of $213.36 million for 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 firm's revenue was up 50.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.39 earnings per share. On average, sell-side analysts expect that Nova Ltd. will post 7.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NVMI. Citigroup dropped their target price on Nova from $290.00 to $280.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Benchmark cut their target price on Nova from $295.00 to $280.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Bank of America decreased their target price on Nova from $310.00 to $248.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Needham & Company LLC reiterated a "hold" rating on shares of Nova in a report on Friday, February 14th. Finally, Cantor Fitzgerald decreased their price objective on shares of Nova from $315.00 to $300.00 and set an "overweight" rating for the company in a report on Friday, March 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $277.00.

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.