Cantor Fitzgerald Weighs in on Nova FY2024 Earnings

Nova Ltd. (NASDAQ:NVMI) – Equities research analysts at Cantor Fitzgerald issued their FY2024 EPS estimates for Nova in a research note issued to investors on Monday, January 13th. Cantor Fitzgerald analyst M. Prisco forecasts that the semiconductor company will post earnings per share of $5.78 for the year. Cantor Fitzgerald has a “Overweight” rating and a $275.00 price objective on the stock. The consensus estimate for Nova’s current full-year earnings is $5.78 per share.

NVMI has been the topic of a number of other reports. Benchmark upped their price objective on Nova from $240.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 8th. Citigroup raised shares of Nova from a “neutral” rating to a “buy” rating and raised their price target for the stock from $226.00 to $240.00 in a research report on Monday, January 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Nova in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $238.33.

Nova Trading Up 4.2 %

Nova stock opened at $242.33 on Thursday. The company has a market capitalization of $7.04 billion, a price-to-earnings ratio of 45.21, a PEG ratio of 1.81 and a beta of 1.42. The stock’s 50 day moving average is $196.51 and its 200-day moving average is $204.19. Nova has a 12 month low of $129.39 and a 12 month high of $249.01.

Hedge Funds Weigh In On Nova

Hedge funds have recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Nova by 74.6% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,281,869 shares of the semiconductor company’s stock worth $267,487,000 after acquiring an additional 547,833 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Nova by 6.5% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,273,985 shares of the semiconductor company’s stock worth $265,422,000 after buying an additional 78,000 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Nova by 115.1% during the 3rd quarter. Franklin Resources Inc. now owns 661,282 shares of the semiconductor company’s stock worth $146,515,000 after buying an additional 353,906 shares during the last quarter. Meitav Investment House Ltd. boosted its stake in Nova by 16.3% in the third quarter. Meitav Investment House Ltd. now owns 647,722 shares of the semiconductor company’s stock valued at $135,513,000 after buying an additional 90,883 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Nova by 45.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 645,203 shares of the semiconductor company’s stock valued at $151,319,000 after acquiring an additional 200,816 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.