Sei Investments Co. Buys 13,889 Shares of Nova Ltd. (NASDAQ:NVMI)

Sei Investments Co. raised its stake in Nova Ltd. (NASDAQ:NVMI) by 10.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,312 shares of the semiconductor company’s stock after acquiring an additional 13,889 shares during the quarter. Sei Investments Co. owned about 0.49% of Nova worth $33,376,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Nova in the fourth quarter valued at about $9,409,000. UBS Group AG raised its stake in shares of Nova by 20.9% during the fourth quarter. UBS Group AG now owns 52,423 shares of the semiconductor company’s stock worth $7,202,000 after buying an additional 9,058 shares during the last quarter. D.A. Davidson & CO. acquired a new position in Nova in the fourth quarter valued at approximately $210,000. Olympiad Research LP bought a new position in Nova in the fourth quarter valued at approximately $282,000. Finally, Evoke Wealth LLC acquired a new stake in Nova during the 4th quarter worth $2,754,000. 82.99% of the stock is owned by institutional investors.

Nova Trading Up 0.4 %

NVMI stock opened at $201.17 on Tuesday. Nova Ltd. has a 1-year low of $90.59 and a 1-year high of $247.21. The firm has a market cap of $5.84 billion, a PE ratio of 46.35, a P/E/G ratio of 2.49 and a beta of 1.46. The business’s 50-day moving average price is $209.23 and its two-hundred day moving average price is $202.96.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NVMI shares. Benchmark raised their price target on Nova from $215.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Citigroup cut Nova from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $273.00 to $224.00 in a report on Monday, September 16th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $226.80.

Nova 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.