Nova Ltd. (NASDAQ:NVMI) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Nova Ltd. (NASDAQ:NVMI) have received a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $221.25.

Several research analysts recently issued reports on NVMI shares. Bank of America upped their price target on shares of Nova from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Benchmark upped their price target on shares of Nova from $187.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Needham & Company LLC reiterated a “hold” rating on shares of Nova in a research report on Friday, May 10th. Jefferies Financial Group started coverage on shares of Nova in a research report on Monday, May 13th. They set a “buy” rating and a $240.00 price target on the stock. Finally, Evercore ISI started coverage on shares of Nova in a research report on Tuesday, April 16th. They set an “outperform” rating and a $210.00 price target on the stock.

Nova Price Performance

NVMI opened at $232.85 on Tuesday. Nova has a fifty-two week low of $90.59 and a fifty-two week high of $242.93. The firm’s fifty day moving average price is $207.71 and its two-hundred day moving average price is $175.29. The company has a market capitalization of $6.76 billion, a P/E ratio of 53.65, a P/E/G ratio of 3.41 and a beta of 1.47.

Nova (NASDAQ:NVMI) last issued its earnings results on Thursday, May 9th. The semiconductor company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.10 by $0.29. Nova had a net margin of 26.26% and a return on equity of 19.89%. The company had revenue of $141.80 million for the quarter, compared to the consensus estimate of $136.78 million. During the same quarter in the previous year, the company earned $1.12 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts expect that Nova will post 4.79 EPS for the current fiscal year.

Institutional Trading of Nova

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Nova by 3.3% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,070,485 shares of the semiconductor company’s stock valued at $147,074,000 after acquiring an additional 33,800 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Nova by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 987,071 shares of the semiconductor company’s stock valued at $175,087,000 after acquiring an additional 14,115 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Nova by 3.0% in the 1st quarter. Acadian Asset Management LLC now owns 803,025 shares of the semiconductor company’s stock valued at $142,408,000 after acquiring an additional 23,668 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Nova by 74.9% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 604,977 shares of the semiconductor company’s stock valued at $83,202,000 after acquiring an additional 259,021 shares during the last quarter. Finally, Capital World Investors increased its stake in shares of Nova by 22.3% in the 1st quarter. Capital World Investors now owns 450,868 shares of the semiconductor company’s stock valued at $79,975,000 after acquiring an additional 82,322 shares during the last quarter. 82.99% of the stock is owned by institutional investors.

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.