Analysts Set Nova Ltd. (NASDAQ:NVMI) PT at $264.60

Nova Ltd. (NASDAQ:NVMI) has received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $264.60.

NVMI has been the subject of several recent research reports. Bank of America lowered their price target on Nova from $310.00 to $248.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Cantor Fitzgerald dropped their price target on shares of Nova from $315.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday, March 14th. Needham & Company LLC reissued a “hold” rating on shares of Nova in a report on Friday, February 14th. Citigroup upgraded shares of Nova from a “neutral” rating to a “buy” rating and upped their target price for the company from $226.00 to $240.00 in a research note on Monday, January 6th. Finally, Benchmark raised their price target on shares of Nova from $245.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, February 14th.

Nova Trading Up 3.3 %

NASDAQ NVMI opened at $202.18 on Monday. The business’s 50-day moving average price is $197.24 and its 200 day moving average price is $206.58. Nova has a twelve month low of $154.00 and a twelve month high of $289.90. The company has a market capitalization of $5.92 billion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 2.55 and a beta of 1.63.

Nova (NASDAQ:NVMI) last released its quarterly earnings data on Thursday, February 13th. The semiconductor company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.04). Nova had a return on equity of 22.33% and a net margin of 27.33%. The firm had revenue of $194.77 million during the quarter, compared to analysts’ expectations of $186.50 million. Equities analysts predict that Nova will post 7.52 EPS for the current year.

Institutional Trading of Nova

Several hedge funds have recently bought and sold shares of NVMI. TimesSquare Capital Management LLC grew its position in Nova by 83.7% in the 1st quarter. TimesSquare Capital Management LLC now owns 47,270 shares of the semiconductor company’s stock worth $8,713,000 after purchasing an additional 21,540 shares during the last quarter. Stephens Inc. AR boosted its holdings in shares of Nova by 8.9% in the first quarter. Stephens Inc. AR now owns 15,554 shares of the semiconductor company’s stock valued at $2,867,000 after acquiring an additional 1,270 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Nova by 7.4% during the first quarter. Envestnet Asset Management Inc. now owns 7,825 shares of the semiconductor company’s stock valued at $1,442,000 after acquiring an additional 541 shares during the period. Bank of New York Mellon Corp raised its holdings in Nova by 122.2% during the first quarter. Bank of New York Mellon Corp now owns 39,901 shares of the semiconductor company’s stock worth $7,355,000 after purchasing an additional 21,941 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position in Nova by 3.7% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,212,485 shares of the semiconductor company’s stock worth $223,497,000 after purchasing an additional 42,860 shares during the period. 82.99% of the stock is currently owned by institutional investors.

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.