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

Shares of Nova Ltd. (NASDAQ:NVMI) have been given a consensus recommendation of “Moderate Buy” by the nine analysts that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $322.8571.

Several analysts recently issued reports on the company. Morgan Stanley started coverage on Nova in a research note on Monday, December 1st. They issued an “equal weight” rating and a $335.00 price target for the company. Jefferies Financial Group boosted their target price on shares of Nova from $360.00 to $390.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Benchmark upped their price target on shares of Nova from $280.00 to $345.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nova in a research note on Monday, December 22nd. Finally, Evercore ISI increased their target price on shares of Nova from $290.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th.

Nova Stock Up 4.9%

Nova stock opened at $394.07 on Friday. The company’s 50-day moving average price is $324.01 and its two-hundred day moving average price is $301.43. The company has a quick ratio of 4.00, a current ratio of 4.58 and a debt-to-equity ratio of 0.62. The stock has a market cap of $11.59 billion, a P/E ratio of 51.51, a P/E/G ratio of 2.38 and a beta of 1.84. Nova has a twelve month low of $153.99 and a twelve month high of $398.40.

Hedge Funds Weigh In On Nova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in shares of Nova by 660.4% during the 1st quarter. Royal Bank of Canada now owns 10,668 shares of the semiconductor company’s stock worth $1,966,000 after purchasing an additional 9,265 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Nova by 51.6% in the first quarter. Advisors Asset Management Inc. now owns 376 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 128 shares in the last quarter. Voya Investment Management LLC bought a new stake in Nova during the first quarter worth about $839,000. Parallel Advisors LLC grew its stake in Nova by 182.7% during the second quarter. Parallel Advisors LLC now owns 212 shares of the semiconductor company’s stock worth $58,000 after buying an additional 137 shares in the last quarter. Finally, Lifestyle Asset Management Inc. increased its holdings in Nova by 9.4% in the 2nd quarter. Lifestyle Asset Management Inc. now owns 1,690 shares of the semiconductor company’s stock valued at $465,000 after buying an additional 145 shares during the period. 82.99% of the stock is owned by institutional investors and hedge funds.

Nova Company Profile

Nova Measuring Instruments Ltd (NASDAQ: NVMI) develops and supplies advanced metrology and process control systems for the semiconductor manufacturing industry. The company’s core product line includes spectroscopic ellipsometry and scatterometry tools designed to measure film thickness, critical dimensions, overlay alignment and other key parameters that drive yield and performance in integrated circuit fabrication.

Founded in 1993 and headquartered in Rehovot, Israel, Nova Measuring Instruments has established itself as a critical partner to leading semiconductor foundries and device manufacturers.