Nova (NASDAQ:NVMI) Sets New 12-Month High – Here’s Why

Nova Ltd. (NASDAQ:NVMI) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $266.13 and last traded at $256.88, with a volume of 342839 shares traded. The stock had previously closed at $258.49.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a research report on Friday, November 8th. Benchmark lifted their price target on Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Citigroup raised Nova from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $226.00 to $240.00 in a research report on Monday, January 6th. Finally, Cantor Fitzgerald assumed coverage on Nova in a report on Monday, January 13th. They issued an “overweight” rating and a $275.00 target price on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.33.

Nova Stock Up 0.2 %

The stock has a fifty day moving average of $203.52 and a two-hundred day moving average of $204.79. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 47.09, a price-to-earnings-growth ratio of 2.10 and a beta of 1.42.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP grew its holdings in Nova by 438.5% during the third quarter. Quarry LP now owns 140 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 114 shares during the period. Advisors Asset Management Inc. boosted its position in 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 purchasing an additional 78 shares in the last quarter. Employees Retirement System of Texas purchased a new stake in shares of Nova in the second quarter valued at $68,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Nova in the second quarter valued at $211,000. Finally, Maven Securities LTD purchased a new stake in shares of Nova in the second quarter valued at $227,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

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.