Nova (NASDAQ:NVMI) Sees Large Volume Increase - Here's Why

Key Points

• NOVA Ltd. experienced a trading volume of 212,224 shares, down 24% from the previous session, with the stock closing at $238.50.
• Several analysts have revised their ratings, with Wall Street Zen downgrading Nova to "hold," while Cantor Fitzgerald set an increased price target of $300.00, reflecting ongoing mixed sentiment among analysts.
• NOVA's latest quarterly report showed a 40.2% year-over-year revenue growth, with earnings per share of $2.20 surpassing estimates, indicating strong financial performance amidst recent market activity.

Nova Ltd. (NASDAQ:NVMI - Get Free Report) saw unusually-strong trading volume on Wednesday . 212,224 shares traded hands during mid-day trading, a decline of 24% from the previous session's volume of 278,524 shares.The stock last traded at $238.50 and had previously closed at $237.16.

Analyst Ratings Changes

NVMI has been the topic of several research reports. Wall Street Zen downgraded shares of Nova from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 target price (up previously from $250.00) on shares of Nova in a report on Tuesday, June 24th. 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 price target 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. Finally, Bank of America raised their price objective on Nova from $250.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $282.50.

Nova Price Performance

The firm's 50 day moving average price is $267.71 and its 200 day moving average price is $227.95. The stock has a market capitalization of $7.52 billion, a P/E ratio of 34.79, a P/E/G ratio of 2.12 and a beta of 1.72.

Nova (NASDAQ:NVMI - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.15. The company had revenue of $219.99 million for the quarter, compared to the consensus estimate of $214.95 million. Nova had a return on equity of 24.36% and a net margin of 29.10%.Nova's revenue was up 40.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.61 EPS. Nova has set its Q3 2025 guidance at 2.020-2.220 EPS. On average, equities research analysts forecast that Nova Ltd. will post 7.52 earnings per share for the current year.

Institutional Trading of Nova

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in Nova by 122.2% during the 1st quarter. Bank of New York Mellon Corp now owns 39,901 shares of the semiconductor company's stock valued at $7,355,000 after purchasing an additional 21,941 shares during the period. Retirement Systems of Alabama purchased a new position in shares of Nova during the first quarter valued at about $1,957,000. Janney Montgomery Scott LLC bought a new position in Nova in the first quarter worth about $239,000. Dimensional Fund Advisors LP raised its stake in Nova by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 22,472 shares of the semiconductor company's stock worth $4,426,000 after buying an additional 877 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Nova in the fourth quarter worth about $237,000. Hedge funds and other institutional investors 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.