Nova (NASDAQ:NVMI) Shares Gap Down to $206.71

Shares of Nova Ltd. (NASDAQ:NVMI) gapped down prior to trading on Monday . The stock had previously closed at $206.71, but opened at $197.04. Nova shares last traded at $195.34, with a volume of 34,179 shares trading hands.

Wall Street Analysts Forecast Growth

NVMI has been the topic of a number of research analyst reports. Benchmark raised their price target on Nova from $215.00 to $240.00 and gave the company a “buy” rating in a report on Friday, August 9th. Citigroup cut shares of Nova from a “buy” rating to a “neutral” rating and lowered their target price for the company from $273.00 to $224.00 in a research note on Monday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $226.80.

Nova Trading Down 1.1 %

The stock has a 50-day moving average of $212.25 and a two-hundred day moving average of $202.52. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 44.67, a price-to-earnings-growth ratio of 2.49 and a beta of 1.46.

Nova (NASDAQ:NVMI) last released its earnings results 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 the consensus estimate of $148.12 million. Nova had a net margin of 27.38% and a return on equity of 20.76%. The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period last year, the firm posted $0.97 earnings per share. Sell-side analysts expect that Nova Ltd. will post 5.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NVMI. Evergreen Capital Management LLC grew its stake in Nova by 5.0% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,230 shares of the semiconductor company’s stock valued at $288,000 after acquiring an additional 59 shares in the last quarter. Vancity Investment Management Ltd boosted its holdings in shares of Nova by 1.9% during the first quarter. Vancity Investment Management Ltd now owns 4,969 shares of the semiconductor company’s stock worth $881,000 after purchasing an additional 95 shares during the period. Signaturefd LLC grew its position in 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 purchasing an additional 105 shares in the last quarter. TD Asset Management Inc increased its stake in Nova by 3.4% in the 2nd quarter. TD Asset Management Inc now owns 4,176 shares of the semiconductor company’s stock valued at $980,000 after buying an additional 136 shares during the period. Finally, Creative Planning lifted its position in Nova by 4.5% in the 2nd quarter. Creative Planning now owns 3,567 shares of the semiconductor company’s stock worth $837,000 after buying an additional 155 shares in the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.

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.