Nova (NASDAQ:NVMI) Sets New 1-Year Low - What's Next?

Nova Ltd. (NASDAQ:NVMI - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $186.10 and last traded at $196.21, with a volume of 122699 shares. The stock had previously closed at $194.63.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Bank of America lowered their target price on shares of Nova from $310.00 to $248.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Citigroup raised shares of Nova from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $226.00 to $240.00 in a research report on Monday, January 6th. Benchmark upped their target price on Nova from $245.00 to $295.00 and gave the company a "buy" rating in a report on Friday, February 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Nova in a research report on Friday, February 14th. Finally, Cantor Fitzgerald cut their price objective on Nova from $315.00 to $300.00 and set an "overweight" rating on the stock in a research report on Friday, March 14th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $264.60.

Nova Trading Up 0.8 %

The stock has a market capitalization of $5.74 billion, a P/E ratio of 34.18, a P/E/G ratio of 2.55 and a beta of 1.63. The stock's 50-day moving average price is $199.48 and its two-hundred day moving average price is $206.73.

Nova (NASDAQ:NVMI - Get Free Report) last released its earnings results on Thursday, February 13th. The semiconductor company reported $1.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.82 by ($0.04). The firm had revenue of $194.77 million during the quarter, compared to analysts' expectations of $186.50 million. Nova had a return on equity of 22.33% and a net margin of 27.33%. On average, equities research analysts predict that Nova Ltd. will post 7.52 earnings per share for the current year.

Institutional Investors Weigh In On Nova

Several institutional investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP increased its stake in shares of Nova by 49.3% in the fourth quarter. Wasatch Advisors LP now owns 2,411,677 shares of the semiconductor company's stock worth $474,980,000 after purchasing an additional 796,629 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Nova by 115.1% in the 3rd quarter. Franklin Resources Inc. now owns 661,282 shares of the semiconductor company's stock worth $146,515,000 after buying an additional 353,906 shares during the period. Polar Capital Holdings Plc grew its stake in Nova by 504.5% in the 4th quarter. Polar Capital Holdings Plc now owns 354,302 shares of the semiconductor company's stock valued at $69,780,000 after buying an additional 295,691 shares in the last quarter. Capital World Investors raised its holdings in Nova by 33.3% during the 4th quarter. Capital World Investors now owns 600,868 shares of the semiconductor company's stock valued at $118,341,000 after acquiring an additional 150,000 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Nova by 7.9% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,383,339 shares of the semiconductor company's stock worth $272,517,000 after acquiring an additional 101,470 shares in the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

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.

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