Massachusetts Financial Services Co. MA Purchases 200,816 Shares of Nova Ltd. (NASDAQ:NVMI)

Massachusetts Financial Services Co. MA lifted its position in shares of Nova Ltd. (NASDAQ:NVMI) by 45.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 645,203 shares of the semiconductor company’s stock after purchasing an additional 200,816 shares during the quarter. Massachusetts Financial Services Co. MA owned about 2.22% of Nova worth $151,319,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FSC Wealth Advisors LLC bought a new position in shares of Nova during the second quarter valued at approximately $79,000. Signaturefd LLC increased its position in Nova by 15.9% during the 2nd quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock valued at $180,000 after buying an additional 105 shares in the last quarter. OLD National Bancorp IN purchased a new position in Nova during the second quarter valued at $205,000. Wealth Enhancement Advisory Services LLC bought a new stake in Nova in the second quarter worth $232,000. Finally, nVerses Capital LLC purchased a new stake in shares of Nova in the second quarter worth $235,000. 82.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NVMI shares. Citigroup lowered Nova from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $273.00 to $224.00 in a research report on Monday. Benchmark lifted their target price on shares of Nova from $215.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $226.80.

Nova Stock Performance

NASDAQ NVMI opened at $192.34 on Thursday. Nova Ltd. has a one year low of $90.59 and a one year high of $247.21. The stock has a 50-day moving average of $211.25 and a 200 day moving average of $202.45. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 44.32, a PEG ratio of 2.49 and a beta of 1.46.

Nova (NASDAQ:NVMI) last announced its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.43. The firm had revenue of $156.86 million during the quarter, compared to analyst estimates of $148.12 million. Nova had a net margin of 27.38% and a return on equity of 20.76%. The business’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.97 earnings per share. On average, equities analysts predict that Nova Ltd. will post 5.63 earnings per share for the current fiscal year.

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.