Nova (NASDAQ:NVMI) Price Target Raised to $295.00

Nova (NASDAQ:NVMI) had its price target hoisted by Benchmark from $245.00 to $295.00 in a report published on Friday,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

A number of other analysts also recently issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a report on Friday. Cantor Fitzgerald assumed coverage on shares of Nova in a research note on Monday, January 13th. They set an “overweight” rating and a $275.00 target price on the stock. Finally, Citigroup upgraded shares of Nova from a “neutral” rating to a “buy” rating and raised their target price for the stock from $226.00 to $240.00 in a research note on Monday, January 6th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $246.67.

Nova Trading Down 0.4 %

Shares of NASDAQ NVMI opened at $267.97 on Friday. Nova has a 12 month low of $154.54 and a 12 month high of $289.90. The firm has a market capitalization of $7.78 billion, a PE ratio of 49.99, a price-to-earnings-growth ratio of 2.07 and a beta of 1.44. The firm has a fifty day simple moving average of $223.02 and a two-hundred day simple moving average of $207.65.

Nova (NASDAQ:NVMI) last released its earnings results on Thursday, February 13th. The semiconductor company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.04). Nova had a return on equity of 21.35% and a net margin of 28.00%. The business had revenue of $194.77 million during the quarter, compared to analysts’ expectations of $186.50 million. On average, sell-side analysts predict that Nova will post 5.78 earnings per share for the current year.

Institutional Investors Weigh In On Nova

A number of large investors have recently bought and sold shares of NVMI. Quantbot Technologies LP lifted its holdings in Nova by 131.0% in the third quarter. Quantbot Technologies LP now owns 13,540 shares of the semiconductor company’s stock valued at $2,821,000 after acquiring an additional 7,678 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Nova by 74.6% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,281,869 shares of the semiconductor company’s stock valued at $267,487,000 after acquiring an additional 547,833 shares during the period. Two Sigma Advisers LP lifted its holdings in Nova by 121.9% in the third quarter. Two Sigma Advisers LP now owns 145,100 shares of the semiconductor company’s stock valued at $30,230,000 after acquiring an additional 79,700 shares during the period. LMR Partners LLP acquired a new position in Nova in the third quarter valued at approximately $15,669,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Nova during the 3rd quarter worth approximately $967,000. Hedge funds and other institutional investors own 82.99% of the company’s stock.

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.