Seven Eight Capital LP Takes Position in Nova Ltd. (NASDAQ:NVMI)

Seven Eight Capital LP bought a new stake in shares of Nova Ltd. (NASDAQ:NVMI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,349 shares of the semiconductor company’s stock, valued at approximately $316,000.

Other large investors have also added to or reduced their stakes in the company. FSC Wealth Advisors LLC bought a new stake in Nova in the 2nd quarter valued at about $79,000. Signaturefd LLC increased its holdings in shares of Nova by 15.9% during the second quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock valued at $180,000 after acquiring an additional 105 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Nova by 46.2% during the first quarter. Russell Investments Group Ltd. now owns 1,038 shares of the semiconductor company’s stock worth $184,000 after purchasing an additional 328 shares during the period. OLD National Bancorp IN bought a new position in shares of Nova in the 2nd quarter worth $205,000. Finally, D.A. Davidson & CO. acquired a new stake in Nova in the 4th quarter valued at $210,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

Nova Stock Down 2.4 %

Nova stock opened at $200.39 on Monday. Nova Ltd. has a 52 week low of $90.59 and a 52 week high of $247.21. The company’s 50 day moving average price is $210.01 and its two-hundred day moving average price is $202.82. The stock has a market cap of $5.82 billion, a P/E ratio of 46.17, a P/E/G ratio of 2.49 and a beta of 1.46.

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

Wall Street Analyst Weigh In

NVMI has been the subject of a number of analyst reports. Benchmark lifted their price objective on shares of Nova from $215.00 to $240.00 and gave the company a “buy” rating in a report on Friday, August 9th. Citigroup lowered Nova from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $273.00 to $224.00 in a report on Monday, September 16th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $226.80.

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.