Shares of Nova Ltd. (NASDAQ:NVMI - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 360,007 shares changed hands during trading, an increase of 50% from the previous session's volume of 239,306 shares.The stock last traded at $275.28 and had previously closed at $268.43.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. Bank of America upped their target price on shares of Nova from $250.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price target (up previously from $250.00) on shares of Nova in a report on Tuesday, June 24th. Wall Street Zen downgraded Nova from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Citigroup decreased 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. Finally, Benchmark cut their price target on Nova from $295.00 to $280.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $282.50.
Check Out Our Latest Stock Report on Nova
Nova Price Performance
The company's fifty day moving average is $214.46 and its 200-day moving average is $215.62. The company has a market capitalization of $8.37 billion, a PE ratio of 43.02, a price-to-earnings-growth ratio of 2.35 and a beta of 1.66.
Nova (NASDAQ:NVMI - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $2.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.10. The business had revenue of $213.36 million for the quarter, compared to the consensus estimate of $210.10 million. Nova had a return on equity of 23.98% and a net margin of 28.46%. The business's revenue was up 50.5% compared to the same quarter last year. During the same period last year, the business posted $1.39 EPS. Equities research analysts forecast that Nova Ltd. will post 7.52 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. raised its stake in Nova by 0.8% in the fourth quarter. Alliancebernstein L.P. now owns 5,688 shares of the semiconductor company's stock valued at $1,120,000 after buying an additional 44 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Nova by 3.6% during the fourth quarter. NewEdge Advisors LLC now owns 1,339 shares of the semiconductor company's stock valued at $264,000 after acquiring an additional 47 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Nova by 5.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,030 shares of the semiconductor company's stock valued at $203,000 after purchasing an additional 51 shares during the last quarter. Advisory Services Network LLC boosted its stake in Nova by 5.0% in the 4th quarter. Advisory Services Network LLC now owns 1,149 shares of the semiconductor company's stock worth $226,000 after purchasing an additional 55 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its stake in Nova by 1.3% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 4,742 shares of the semiconductor company's stock worth $935,000 after purchasing an additional 63 shares in the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.
Nova Company Profile
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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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