JPMorgan Chase & Co. Purchases 25,345 Shares of Nova Ltd. (NASDAQ:NVMI)

JPMorgan Chase & Co. boosted its position in Nova Ltd. (NASDAQ:NVMI) by 253.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 35,327 shares of the semiconductor company’s stock after purchasing an additional 25,345 shares during the period. JPMorgan Chase & Co. owned about 0.12% of Nova worth $7,360,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NVMI. Oppenheimer Asset Management Inc. raised its position in Nova by 25.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 12,207 shares of the semiconductor company’s stock worth $2,863,000 after acquiring an additional 2,482 shares during the period. Envestnet Asset Management Inc. lifted its stake in Nova by 12.2% in the second quarter. Envestnet Asset Management Inc. now owns 9,153 shares of the semiconductor company’s stock valued at $2,147,000 after purchasing an additional 993 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Nova by 45.2% during 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 purchasing an additional 200,816 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Nova by 29.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,683 shares of the semiconductor company’s stock worth $864,000 after buying an additional 834 shares during the last quarter. Finally, Seven Eight Capital LP bought a new stake in shares of Nova in the second quarter valued at $316,000. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Nova Stock Performance

Shares of NASDAQ NVMI opened at $228.92 on Wednesday. The company has a 50 day simple moving average of $194.97 and a two-hundred day simple moving average of $203.72. Nova Ltd. has a fifty-two week low of $129.39 and a fifty-two week high of $247.21. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 42.71, a P/E/G ratio of 1.78 and a beta of 1.42.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NVMI shares. Citigroup raised Nova from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $226.00 to $240.00 in a report on Monday, January 6th. Benchmark lifted their target price on shares of Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Cantor Fitzgerald started coverage on shares of Nova in a research note on Monday. They set an “overweight” rating and a $275.00 price target on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Nova in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $238.33.

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.