Nova (NASDAQ:NVMI) Trading Down 3.8%

Nova Ltd. (NASDAQ:NVMI) shares were down 3.8% on Wednesday . The stock traded as low as $169.22 and last traded at $169.22. Approximately 38,383 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 153,945 shares. The stock had previously closed at $175.99.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NVMI shares. Evercore ISI started coverage on shares of Nova in a research report on Tuesday. They issued an “outperform” rating and a $210.00 target price for the company. Benchmark boosted their target price on shares of Nova from $150.00 to $187.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Nova has a consensus rating of “Moderate Buy” and a consensus price target of $170.67.

Nova Trading Down 6.6 %

The business’s 50-day moving average is $172.75 and its two-hundred day moving average is $140.56. The firm has a market cap of $4.55 billion, a P/E ratio of 39.72, a P/E/G ratio of 6.45 and a beta of 1.41.

Nova (NASDAQ:NVMI) last announced its quarterly earnings data on Thursday, February 15th. The semiconductor company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.14. Nova had a net margin of 26.32% and a return on equity of 20.55%. The business had revenue of $134.22 million during the quarter, compared to the consensus estimate of $128.00 million. On average, analysts anticipate that Nova Ltd. will post 4.87 earnings per share for the current year.

Institutional Investors Weigh In On Nova

Institutional investors have recently modified their holdings of the business. UBS Group AG grew its position in shares of Nova by 8.9% during the 3rd quarter. UBS Group AG now owns 43,365 shares of the semiconductor company’s stock valued at $4,876,000 after buying an additional 3,539 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Nova by 3.3% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,070,485 shares of the semiconductor company’s stock valued at $147,074,000 after purchasing an additional 33,800 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in Nova by 2.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,312,919 shares of the semiconductor company’s stock valued at $147,625,000 after purchasing an additional 27,050 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Nova by 33.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 276,478 shares of the semiconductor company’s stock valued at $31,087,000 after purchasing an additional 69,249 shares during the period. Finally, Campbell & CO Investment Adviser LLC boosted its stake in Nova by 83.7% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 8,705 shares of the semiconductor company’s stock valued at $979,000 after purchasing an additional 3,966 shares during the period. Institutional investors own 82.99% of the company’s stock.

Nova Company 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.