Redwood Investments LLC decreased its stake in Nova Ltd. (NASDAQ:NVMI - Free Report) by 27.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,219 shares of the semiconductor company's stock after selling 7,433 shares during the period. Nova makes up 1.0% of Redwood Investments LLC's portfolio, making the stock its 26th largest holding. Redwood Investments LLC owned approximately 0.07% of Nova worth $3,785,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Steward Partners Investment Advisory LLC boosted its holdings in Nova by 24.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 401 shares of the semiconductor company's stock valued at $79,000 after purchasing an additional 78 shares during the period. Quarry LP raised its position in shares of Nova by 187.1% during the fourth quarter. Quarry LP now owns 402 shares of the semiconductor company's stock valued at $79,000 after buying an additional 262 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Nova in the fourth quarter valued at about $112,000. Quadrant Capital Group LLC grew its position in Nova by 5.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,030 shares of the semiconductor company's stock worth $203,000 after buying an additional 51 shares in the last quarter. Finally, Advisory Services Network LLC grew its position in Nova by 5.0% during the fourth quarter. Advisory Services Network LLC now owns 1,149 shares of the semiconductor company's stock worth $226,000 after buying an additional 55 shares in the last quarter. Institutional investors own 82.99% of the company's stock.
Nova Price Performance
Nova stock opened at $199.16 on Thursday. The business has a 50 day simple moving average of $191.37 and a 200 day simple moving average of $207.12. The company has a market capitalization of $5.83 billion, a PE ratio of 34.70, a price-to-earnings-growth ratio of 2.55 and a beta of 1.66. Nova Ltd. has a one year low of $154.00 and a one year high of $289.90.
Nova (NASDAQ:NVMI - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $2.18 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.10. Nova had a return on equity of 22.33% and a net margin of 27.33%. The company had revenue of $213.36 million for the quarter, compared to analyst estimates of $210.10 million. During the same quarter in the previous year, the firm earned $1.39 earnings per share. The business's revenue was up 50.5% on a year-over-year basis. Equities analysts anticipate that Nova Ltd. will post 7.52 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
NVMI has been the subject of several recent research reports. Bank of America cut their price target on Nova from $310.00 to $248.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Citigroup cut their target price on Nova from $290.00 to $280.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Benchmark reduced their target price on Nova from $295.00 to $280.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Needham & Company LLC reiterated a "hold" rating on shares of Nova in a research note on Friday, February 14th. Finally, Cantor Fitzgerald lowered their price target on shares of Nova from $315.00 to $300.00 and set an "overweight" rating on the stock in a report on Friday, March 14th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Nova has a consensus rating of "Moderate Buy" and a consensus target price of $277.00.
Check Out Our Latest Research Report on NVMI
Nova Company Profile
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Free Report)
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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