Nova (NASDAQ:NVMI) Price Target Cut to $570.00 by Analysts at Needham & Company LLC

Nova (NASDAQ:NVMI) had its price objective dropped by Needham & Company LLC from $640.00 to $570.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 44.90% from the company’s current price.

Several other research firms also recently commented on NVMI. Wall Street Zen upgraded Nova from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings cut Nova from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 7th. Citigroup lifted their price target on shares of Nova from $520.00 to $595.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Evercore restated an “outperform” rating and set a $600.00 price target on shares of Nova in a research note on Friday, May 15th. Finally, Jefferies Financial Group restated a “buy” rating and set a $600.00 price objective on shares of Nova in a report on Thursday. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $533.33.

Nova Price Performance

NVMI stock opened at $393.37 on Friday. The stock has a market capitalization of $12.50 billion, a PE ratio of 49.02, a price-to-earnings-growth ratio of 2.91 and a beta of 1.78. The company’s 50-day moving average is $482.75 and its 200-day moving average is $476.29. Nova has a 1 year low of $232.73 and a 1 year high of $615.99.

Nova (NASDAQ:NVMI) last issued its earnings results on Thursday, August 6th. The semiconductor company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.41 by $0.10. Nova had a return on equity of 21.77% and a net margin of 29.21%.The company had revenue of $254.96 million during the quarter, compared to the consensus estimate of $250.33 million. During the same period last year, the business posted $2.20 EPS. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. Nova has set its Q3 2026 guidance at 2.700-2.850 EPS. On average, analysts anticipate that Nova will post 9.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Eitan Oppenhaim sold 1,290 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $581.20, for a total value of $749,748.00. Following the transaction, the director owned 6,421 shares in the company, valued at $3,731,885.20. This trade represents a 16.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gabriel Waisman sold 2,966 shares of Nova stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $501.30, for a total value of $1,486,855.80. Following the transaction, the chief executive officer directly owned 28,714 shares in the company, valued at approximately $14,394,328.20. The trade was a 9.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 7,798 shares of company stock valued at $4,125,266. 1.00% of the stock is owned by company insiders.

Institutional Trading of Nova

Several institutional investors have recently made changes to their positions in NVMI. EverSource Wealth Advisors LLC boosted its holdings in Nova by 9.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 280 shares of the semiconductor company’s stock valued at $92,000 after purchasing an additional 24 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Nova by 2.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,124 shares of the semiconductor company’s stock worth $488,000 after purchasing an additional 30 shares during the period. Signaturefd LLC increased its holdings in shares of Nova by 4.5% in the fourth quarter. Signaturefd LLC now owns 992 shares of the semiconductor company’s stock worth $326,000 after purchasing an additional 43 shares during the period. Parallel Advisors LLC raised its position in shares of Nova by 20.0% in the first quarter. Parallel Advisors LLC now owns 264 shares of the semiconductor company’s stock worth $115,000 after buying an additional 44 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Nova by 16.1% in the fourth quarter. Farther Finance Advisors LLC now owns 347 shares of the semiconductor company’s stock worth $114,000 after buying an additional 48 shares in the last quarter. Institutional investors own 82.99% of the company’s stock.

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.