Nova Ltd. (NASDAQ:NVMI) Position Increased by Cetera Investment Advisers

Cetera Investment Advisers raised its position in shares of Nova Ltd. (NASDAQ:NVMI) by 70.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,018 shares of the semiconductor company’s stock after buying an additional 2,486 shares during the quarter. Cetera Investment Advisers’ holdings in Nova were worth $1,411,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Creative Planning lifted its stake in Nova by 4.5% during the second quarter. Creative Planning now owns 3,567 shares of the semiconductor company’s stock valued at $837,000 after buying an additional 155 shares in the last quarter. Susquehanna International Group Ltd. purchased a new stake in shares of Nova in the second quarter worth approximately $1,145,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Nova in the second quarter worth approximately $211,000. Employees Retirement System of Texas purchased a new stake in shares of Nova in the second quarter worth approximately $68,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Nova by 247.8% in the second quarter. Cubist Systematic Strategies LLC now owns 20,164 shares of the semiconductor company’s stock worth $4,729,000 after purchasing an additional 14,367 shares in the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Citigroup lowered shares of Nova from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $273.00 to $224.00 in a research report on Monday, September 16th. Benchmark raised their price objective on shares of Nova from $215.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $226.80.

Nova Stock Performance

Shares of NASDAQ:NVMI opened at $198.74 on Wednesday. Nova Ltd. has a twelve month low of $90.59 and a twelve month high of $247.21. The firm has a market cap of $5.77 billion, a PE ratio of 45.79, a price-to-earnings-growth ratio of 2.08 and a beta of 1.46. The business has a fifty day moving average of $210.81 and a 200-day moving average of $206.39.

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

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.