Nova (NASDAQ:NVMI) Price Target Raised to $640.00

Nova (NASDAQ:NVMI) had its price target upped by investment analysts at Needham & Company LLC from $500.00 to $640.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target points to a potential upside of 14.64% from the company’s previous close.

Several other brokerages also recently commented on NVMI. Citigroup upped their price target on shares of Nova from $370.00 to $520.00 and gave the company a “buy” rating in a report on Friday, February 13th. Zacks Research downgraded shares of Nova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 14th. Morgan Stanley restated an “outperform” rating and issued a $453.00 target price on shares of Nova in a research note on Friday, February 13th. Jefferies Financial Group restated a “buy” rating and issued a $520.00 target price on shares of Nova in a research note on Thursday, February 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Nova in a research note on Friday, April 10th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $464.22.

Nova Trading Up 10.8%

NASDAQ:NVMI traded up $54.63 during mid-day trading on Thursday, hitting $558.28. 371,633 shares of the stock traded hands, compared to its average volume of 384,253. The stock has a market capitalization of $17.74 billion, a price-to-earnings ratio of 69.60, a PEG ratio of 3.61 and a beta of 1.78. Nova has a 52 week low of $179.00 and a 52 week high of $565.00. The firm’s 50 day moving average is $477.37 and its two-hundred day moving average is $410.61. The company has a quick ratio of 5.47, a current ratio of 6.28 and a debt-to-equity ratio of 0.56.

Nova (NASDAQ:NVMI) last issued its quarterly earnings results on Thursday, May 14th. The semiconductor company reported $2.33 EPS for the quarter, beating the consensus estimate of $2.20 by $0.13. The company had revenue of $235.31 million for the quarter, compared to the consensus estimate of $227.02 million. Nova had a net margin of 29.44% and a return on equity of 22.90%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.18 EPS. Nova has set its Q2 2026 guidance at 2.340-2.480 EPS. On average, equities research analysts predict that Nova will post 9.37 earnings per share for the current year.

Hedge Funds Weigh In On Nova

A number of hedge funds have recently added to or reduced their stakes in NVMI. Smartleaf Asset Management LLC bought a new position in Nova in the 4th quarter worth about $29,000. Measured Wealth Private Client Group LLC bought a new position in shares of Nova during the third quarter valued at approximately $40,000. CIBC Private Wealth Group LLC boosted its stake in shares of Nova by 75.7% during the third quarter. CIBC Private Wealth Group LLC now owns 130 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 56 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Nova by 2,042.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 143 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Nova by 51.6% during 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. 82.99% of the stock is currently owned by institutional investors.

About Nova

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.