Equities Analysts Offer Predictions for Nova FY2024 Earnings

Nova Ltd. (NASDAQ:NVMI) – Equities researchers at Cantor Fitzgerald issued their FY2024 earnings per share estimates for shares of Nova in a report issued on Monday, January 13th. Cantor Fitzgerald analyst M. Prisco expects that the semiconductor company will earn $5.78 per share for the year. Cantor Fitzgerald has a “Overweight” rating and a $275.00 price target on the stock. The consensus estimate for Nova’s current full-year earnings is $5.78 per share.

A number of other research firms have also weighed in on NVMI. Citigroup raised shares of Nova from a “neutral” rating to a “buy” rating and upped their target price for the stock from $226.00 to $240.00 in a report on Monday, January 6th. Benchmark upped their price target on shares of Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Nova in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Nova presently has an average rating of “Moderate Buy” and a consensus price target of $238.33.

Nova Stock Up 1.6 %

Shares of NVMI opened at $232.66 on Thursday. The business’s 50-day moving average price is $195.79 and its 200-day moving average price is $203.93. Nova has a twelve month low of $129.39 and a twelve month high of $247.21. The stock has a market cap of $6.76 billion, a PE ratio of 43.41, a P/E/G ratio of 1.81 and a beta of 1.42.

Institutional Trading of Nova

Several institutional investors and hedge funds have recently made changes to their positions in NVMI. Clal Insurance Enterprises Holdings Ltd grew its position in Nova by 74.6% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,281,869 shares of the semiconductor company’s stock worth $267,487,000 after acquiring an additional 547,833 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Nova by 6.5% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,273,985 shares of the semiconductor company’s stock worth $265,422,000 after purchasing an additional 78,000 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Nova by 115.1% in the 3rd quarter. Franklin Resources Inc. now owns 661,282 shares of the semiconductor company’s stock worth $146,515,000 after purchasing an additional 353,906 shares in the last quarter. Meitav Investment House Ltd. increased its position in shares of Nova by 16.3% during the 3rd quarter. Meitav Investment House Ltd. now owns 647,722 shares of the semiconductor company’s stock valued at $135,513,000 after purchasing an additional 90,883 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Nova by 45.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 645,203 shares of the semiconductor company’s stock valued at $151,319,000 after buying an additional 200,816 shares in the last quarter. Hedge funds and other institutional investors 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.