Performance Wealth Partners LLC Purchases New Shares in Nova Ltd. $NVMI

Performance Wealth Partners LLC acquired a new position in shares of Nova Ltd. (NASDAQ:NVMI) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,775 shares of the semiconductor company’s stock, valued at approximately $964,000.

Several other institutional investors have also modified their holdings of NVMI. EverSource Wealth Advisors LLC increased its stake in shares of Nova by 9.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 280 shares of the semiconductor company’s stock worth $92,000 after purchasing an additional 24 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Nova by 2.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,124 shares of the semiconductor company’s stock valued at $488,000 after buying an additional 30 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Nova by 20.0% in the 1st quarter. Parallel Advisors LLC now owns 264 shares of the semiconductor company’s stock worth $115,000 after buying an additional 44 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Nova by 16.1% during the 4th 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. Finally, Vanguard Personalized Indexing Management LLC increased its stake in Nova by 1.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 4,997 shares of the semiconductor company’s stock worth $1,641,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NVMI. Evercore set a $475.00 target price on Nova in a research report on Friday, August 7th. Needham & Company LLC dropped their price target on Nova from $640.00 to $570.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Wall Street Zen raised Nova from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings lowered Nova from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 7th. Finally, Zacks Research raised shares of Nova from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $514.44.

Insider Activity

In other news, Director Yaniv Garty sold 366 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $581.20, for a total value of $212,719.20. Following the completion of the sale, the director owned 2,006 shares of the company’s stock, valued at $1,165,887.20. This represents a 15.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gabriel Waisman sold 2,966 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $501.30, for a total transaction of $1,486,855.80. Following the sale, the chief executive officer owned 28,714 shares of the company’s stock, valued at $14,394,328.20. This represents 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. Insiders have sold a total of 6,946 shares of company stock valued at $3,686,920 in the last ninety days. 1.00% of the stock is currently owned by company insiders.

Nova Price Performance

NVMI stock opened at $420.79 on Tuesday. Nova Ltd. has a 1 year low of $232.73 and a 1 year high of $615.99. The firm has a market capitalization of $13.37 billion, a PE ratio of 52.08, a price-to-earnings-growth ratio of 2.45 and a beta of 1.78. The business has a 50 day simple moving average of $468.52 and a 200-day simple moving average of $473.52.

Nova (NASDAQ:NVMI) last released its quarterly earnings data on Friday, August 7th. The semiconductor company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.10. The company had revenue of $254.96 million for the quarter, compared to analyst estimates of $250.33 million. Nova had a return on equity of 21.41% and a net margin of 28.84%.The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.20 earnings per share. On average, equities research analysts expect that Nova Ltd. will post 9.74 EPS for the current year.

Nova 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.