Benchmark Boosts Nova (NASDAQ:NVMI) Price Target to $215.00

Nova (NASDAQ:NVMIFree Report) had its price objective increased by Benchmark from $187.00 to $215.00 in a research report released on Friday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other brokerages have also recently issued reports on NVMI. Bank of America increased their price objective on Nova from $190.00 to $220.00 and gave the stock a buy rating in a report on Friday. Evercore ISI started coverage on Nova in a report on Tuesday, April 16th. They issued an outperform rating and a $210.00 price target on the stock. Finally, Needham & Company LLC restated a hold rating on shares of Nova in a research report on Friday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $221.25.

View Our Latest Stock Analysis on Nova

Nova Trading Up 0.1 %

Shares of NASDAQ NVMI traded up $0.10 during midday trading on Friday, hitting $193.60. The company’s stock had a trading volume of 90,758 shares, compared to its average volume of 167,932. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 44.59, a P/E/G ratio of 2.69 and a beta of 1.40. The stock has a fifty day moving average price of $176.02 and a 200 day moving average price of $149.08. Nova has a one year low of $90.59 and a one year high of $198.71.

Nova (NASDAQ:NVMIGet Free Report) last released its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.29. The business had revenue of $141.80 million during the quarter, compared to analyst estimates of $136.78 million. Nova had a net margin of 26.26% and a return on equity of 20.51%. Nova’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 EPS. On average, equities research analysts predict that Nova will post 5.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nova

Several institutional investors have recently modified their holdings of NVMI. Acadian Asset Management LLC lifted its position in Nova by 3.0% in the 1st quarter. Acadian Asset Management LLC now owns 803,025 shares of the semiconductor company’s stock worth $142,408,000 after buying an additional 23,668 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Nova by 1.5% during the first quarter. Vanguard Group Inc. now owns 987,071 shares of the semiconductor company’s stock worth $175,087,000 after acquiring an additional 14,115 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Nova in the 1st quarter worth approximately $38,661,000. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Nova by 6.2% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 5,622 shares of the semiconductor company’s stock valued at $985,000 after purchasing an additional 330 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Nova by 46.2% during the 1st quarter. Russell Investments Group Ltd. now owns 1,038 shares of the semiconductor company’s stock valued at $184,000 after purchasing an additional 328 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors.

About Nova

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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.

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