Nova (NASDAQ:NVMI) Sees Unusually-High Trading Volume

Shares of Nova Ltd. (NASDAQ:NVMI) saw an uptick in trading volume on Wednesday . 822,040 shares were traded during trading, an increase of 398% from the previous session’s volume of 165,015 shares.The stock last traded at $168.71 and had previously closed at $168.18.

Analyst Ratings Changes

NVMI has been the topic of several research reports. Evercore ISI assumed coverage on shares of Nova in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $210.00 price objective on the stock. Benchmark raised their price target on shares of Nova from $150.00 to $187.00 and gave the stock a “buy” rating in a research note on Friday, February 16th.

Nova Stock Performance

The firm has a 50 day moving average price of $173.15 and a two-hundred day moving average price of $142.16. The company has a market cap of $4.78 billion, a P/E ratio of 38.86, a P/E/G ratio of 6.17 and a beta of 1.41.

Nova (NASDAQ:NVMI) last posted its earnings results on Thursday, February 15th. The semiconductor company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.14. Nova had a net margin of 26.32% and a return on equity of 20.55%. The firm had revenue of $134.22 million during the quarter, compared to the consensus estimate of $128.00 million. On average, sell-side analysts predict that Nova Ltd. will post 4.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Nova

Large investors have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. increased its position in shares of 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 last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in Nova by 3.3% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,070,485 shares of the semiconductor company’s stock valued at $147,074,000 after acquiring an additional 33,800 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Nova by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 972,956 shares of the semiconductor company’s stock worth $133,674,000 after acquiring an additional 13,891 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Nova by 74.9% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 604,977 shares of the semiconductor company’s stock valued at $83,202,000 after purchasing an additional 259,021 shares in the last quarter. Finally, Invesco Ltd. raised its position in Nova by 118.1% in the 3rd quarter. Invesco Ltd. now owns 428,132 shares of the semiconductor company’s stock worth $48,139,000 after purchasing an additional 231,862 shares during the period. 82.99% of the stock is owned by institutional investors.

About Nova

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.