Nova Ltd. (NASDAQ:NVMI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Nova Ltd. (NASDAQ:NVMI) has earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $227.80.

Several analysts have recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Nova in a research note on Friday, November 8th. Citigroup cut shares of Nova from a “buy” rating to a “neutral” rating and reduced their price target for the company from $273.00 to $224.00 in a research report on Monday, September 16th. Finally, Benchmark raised their price objective on Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 8th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP lifted its position in Nova by 438.5% in the third quarter. Quarry LP now owns 140 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 114 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Nova by 89.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 165 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 78 shares in the last quarter. Employees Retirement System of Texas acquired a new stake in shares of Nova in the second quarter valued at about $68,000. Signaturefd LLC grew its holdings in shares of Nova by 15.9% in the 2nd quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock worth $180,000 after acquiring an additional 105 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Nova during the 2nd quarter worth $211,000. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Nova Stock Down 1.2 %

Nova stock opened at $200.05 on Tuesday. Nova has a 52-week low of $128.74 and a 52-week high of $247.21. The firm has a market cap of $5.81 billion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 1.78 and a beta of 1.44. The company’s 50 day moving average is $189.09 and its two-hundred day moving average is $205.92.

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.