Concentric Capital Strategies LP Acquires 9,944 Shares of Nova Ltd. (NASDAQ:NVMI)

Concentric Capital Strategies LP increased its holdings in Nova Ltd. (NASDAQ:NVMI) by 122.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 18,062 shares of the semiconductor company’s stock after buying an additional 9,944 shares during the period. Concentric Capital Strategies LP’s holdings in Nova were worth $3,557,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its holdings in Nova by 24.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 401 shares of the semiconductor company’s stock valued at $79,000 after acquiring an additional 78 shares in the last quarter. Quarry LP increased its position in shares of Nova by 187.1% in the fourth quarter. Quarry LP now owns 402 shares of the semiconductor company’s stock worth $79,000 after purchasing an additional 262 shares during the period. SBI Securities Co. Ltd. acquired a new position in Nova in the fourth quarter valued at about $112,000. Quadrant Capital Group LLC lifted its position in Nova by 5.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,030 shares of the semiconductor company’s stock worth $203,000 after purchasing an additional 51 shares during the period. Finally, Advisory Services Network LLC lifted its position in Nova by 5.0% during the fourth quarter. Advisory Services Network LLC now owns 1,149 shares of the semiconductor company’s stock worth $226,000 after purchasing an additional 55 shares during the period. 82.99% of the stock is currently owned by institutional investors.

Nova Trading Up 3.5 %

Shares of Nova stock opened at $200.72 on Thursday. The firm has a market capitalization of $5.88 billion, a PE ratio of 34.97, a price-to-earnings-growth ratio of 2.55 and a beta of 1.66. The firm’s 50 day moving average is $194.44 and its 200 day moving average is $206.79. Nova Ltd. has a 1 year low of $154.00 and a 1 year high of $289.90.

Nova (NASDAQ:NVMI) last announced its quarterly earnings results on Thursday, February 13th. The semiconductor company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.04). Nova had a return on equity of 22.33% and a net margin of 27.33%. The company had revenue of $194.77 million for the quarter, compared to analyst estimates of $186.50 million. As a group, research analysts anticipate that Nova Ltd. will post 7.52 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Benchmark raised their target price on shares of Nova from $245.00 to $295.00 and gave the company a “buy” rating in a report on Friday, February 14th. Bank of America decreased their price objective on shares of Nova from $310.00 to $248.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Needham & Company LLC restated a “hold” rating on shares of Nova in a research report on Friday, February 14th. Finally, Cantor Fitzgerald reduced their target price on Nova from $315.00 to $300.00 and set an “overweight” rating on the stock in a report on Friday, March 14th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $264.60.

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.