Nova (NASDAQ:NVMI) Sets New 12-Month High – Should You Buy?

Nova Ltd. (NASDAQ:NVMI)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $401.49 and last traded at $400.6950, with a volume of 41439 shares changing hands. The stock had previously closed at $394.07.

Analyst Ratings Changes

A number of research analysts have commented on NVMI shares. Jefferies Financial Group increased their price objective on shares of Nova from $360.00 to $390.00 and gave the company a “buy” rating in a research note on Monday, December 15th. Morgan Stanley started coverage on shares of Nova in a report on Monday, December 1st. They issued an “equal weight” rating and a $335.00 price objective on the stock. Benchmark increased their price target on Nova from $280.00 to $345.00 and gave the stock 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 upped their price target on shares of Nova from $290.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $322.86.

Nova Stock Up 2.4%

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 business has a 50-day simple moving average of $324.01 and a two-hundred day simple moving average of $301.76. The company has a market cap of $11.87 billion, a price-to-earnings ratio of 52.76, a PEG ratio of 2.38 and a beta of 1.84.

Institutional Investors Weigh In On Nova

A number of institutional investors have recently added to or reduced their stakes in NVMI. Measured Wealth Private Client Group LLC acquired a new position in Nova in the third quarter valued at about $40,000. CIBC Private Wealth Group LLC boosted its position in shares of Nova by 75.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 130 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 56 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Nova by 51.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 164 shares of the semiconductor company’s stock valued at $45,000 after acquiring an additional 56 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Nova by 2,042.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 143 shares during the period. Finally, Parallel Advisors LLC grew its stake in Nova by 182.7% in the second quarter. Parallel Advisors LLC now owns 212 shares of the semiconductor company’s stock valued at $58,000 after acquiring an additional 137 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.