Nova Ltd. (NASDAQ:NVMI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Nova Ltd. (NASDAQ:NVMI) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $238.33.

Several equities research analysts have recently commented on the company. Citigroup upgraded Nova from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $226.00 to $240.00 in a report on Monday, January 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a research report on Friday, November 8th. Benchmark raised their price target on Nova from $240.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Cantor Fitzgerald began coverage on Nova in a report on Monday, January 13th. They set an “overweight” rating and a $275.00 price objective on the stock.

Hedge Funds Weigh In On Nova

A number of institutional investors have recently modified their holdings of the stock. Quarry LP boosted its holdings in Nova by 438.5% in the 3rd quarter. Quarry LP now owns 140 shares of the semiconductor company’s stock worth $29,000 after buying an additional 114 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Nova by 89.7% during the third quarter. Advisors Asset Management Inc. now owns 165 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 78 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of Nova by 24.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 401 shares of the semiconductor company’s stock worth $79,000 after purchasing an additional 78 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Nova in the fourth quarter valued at $112,000. Finally, Signaturefd LLC boosted its stake in shares of Nova by 31.4% during the third quarter. Signaturefd LLC now owns 1,008 shares of the semiconductor company’s stock worth $210,000 after buying an additional 241 shares during the period. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Nova Price Performance

Nova stock opened at $249.09 on Wednesday. Nova has a one year low of $151.34 and a one year high of $266.13. The stock’s 50 day moving average is $217.60 and its 200 day moving average is $206.05. The firm has a market cap of $7.24 billion, a P/E ratio of 46.47, a P/E/G ratio of 2.07 and a beta of 1.44.

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.