Concentric Capital Strategies LP Invests $1.69 Million in Nova Ltd. (NASDAQ:NVMI)

Concentric Capital Strategies LP acquired a new stake in shares of Nova Ltd. (NASDAQ:NVMI) in the third quarter, HoldingsChannel reports. The institutional investor acquired 8,118 shares of the semiconductor company’s stock, valued at approximately $1,691,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVMI. Evergreen Capital Management LLC boosted its position in shares of Nova by 5.0% in the second quarter. Evergreen Capital Management LLC now owns 1,230 shares of the semiconductor company’s stock worth $288,000 after purchasing an additional 59 shares during the period. Advisors Asset Management Inc. boosted its holdings in Nova by 89.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 165 shares of the semiconductor company’s stock worth $34,000 after buying an additional 78 shares during the period. Signaturefd LLC increased its stake in Nova by 15.9% in the 2nd quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock worth $180,000 after buying an additional 105 shares in the last quarter. TD Asset Management Inc raised its holdings in Nova by 3.4% during the second quarter. TD Asset Management Inc now owns 4,176 shares of the semiconductor company’s stock valued at $980,000 after acquiring an additional 136 shares during the period. Finally, TFB Advisors LLC lifted its position in shares of Nova by 9.0% in the third quarter. TFB Advisors LLC now owns 1,848 shares of the semiconductor company’s stock valued at $385,000 after acquiring an additional 152 shares in the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on NVMI. Benchmark increased their target price on Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Nova in a report on Friday, November 8th. Finally, Citigroup downgraded Nova from a “buy” rating to a “neutral” rating and lowered their target price for the company from $273.00 to $224.00 in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Nova has an average rating of “Moderate Buy” and a consensus price target of $227.80.

Nova Trading Up 3.7 %

NVMI stock opened at $190.50 on Tuesday. Nova Ltd. has a 12 month low of $124.42 and a 12 month high of $247.21. The stock has a market cap of $5.53 billion, a PE ratio of 35.54, a P/E/G ratio of 1.73 and a beta of 1.44. The company has a 50-day moving average price of $192.29 and a 200 day moving average price of $208.31.

Nova 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.