Nova (NASDAQ:NVMI) Trading Up 4.6%

Nova Ltd. (NASDAQ:NVMIGet Free Report)’s share price traded up 4.6% during mid-day trading on Tuesday . The stock traded as high as $235.22 and last traded at $234.35. 95,544 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 171,044 shares. The stock had previously closed at $224.14.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Nova in a report on Monday, May 13th. They issued a “buy” rating and a $240.00 target price for the company. Evercore ISI assumed coverage on shares of Nova in a research note on Tuesday, April 16th. They set an “outperform” rating and a $210.00 price target for the company. Bank of America increased their price target on shares of Nova from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Needham & Company LLC restated a “hold” rating on shares of Nova in a research report on Friday, May 10th. Finally, Benchmark upped their price objective on shares of Nova from $187.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.25.

Check Out Our Latest Analysis on NVMI

Nova Stock Performance

The stock’s fifty day moving average price is $201.14 and its 200-day moving average price is $171.66. The firm has a market cap of $6.81 billion, a PE ratio of 51.65, a P/E/G ratio of 3.33 and a beta of 1.42.

Nova (NASDAQ:NVMIGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.39 earnings per share (EPS) 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 the consensus estimate of $136.78 million. Nova had a net margin of 26.26% and a return on equity of 19.89%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.12 EPS. Sell-side analysts forecast that Nova Ltd. will post 4.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nova

Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its holdings in 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 acquiring an additional 328 shares in the last quarter. Cerity Partners LLC purchased a new position in Nova during the 4th quarter valued at about $201,000. D.A. Davidson & CO. purchased a new position in Nova during the 4th quarter valued at about $210,000. Burney Co. purchased a new position in Nova during the 1st quarter valued at about $211,000. Finally, Pinnacle Financial Partners Inc purchased a new position in Nova during the 4th quarter valued at about $218,000. Hedge funds and other institutional investors own 82.99% of the company’s stock.

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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