Nova (NASDAQ:NVMI) Hits New 1-Year High – What’s Next?

Nova Ltd. (NASDAQ:NVMI)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $365.66 and last traded at $362.4730, with a volume of 7004 shares trading hands. The stock had previously closed at $347.34.

Analyst Ratings Changes

Several brokerages recently issued reports on NVMI. Benchmark raised their price target on Nova from $280.00 to $345.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nova in a research note on Monday, December 22nd. Jefferies Financial Group boosted their price target on shares of Nova from $360.00 to $390.00 and gave the company a “buy” rating in a report on Monday, December 15th. Morgan Stanley assumed coverage on shares of Nova in a report on Monday, December 1st. They issued an “equal weight” rating and a $335.00 price objective on the stock. Finally, Evercore ISI lifted their price objective on shares of Nova from $290.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $322.86.

Nova Price Performance

The business has a 50-day simple moving average of $321.83 and a two-hundred day simple moving average of $298.86. The company has a quick ratio of 4.00, a current ratio of 4.58 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $11.50 billion, a price-to-earnings ratio of 51.15, a P/E/G ratio of 2.31 and a beta of 1.84.

Institutional Investors Weigh In On Nova

Hedge funds and other institutional investors have recently bought and sold shares of the business. Amundi raised its holdings in shares of Nova by 195.9% in the 1st quarter. Amundi now owns 24,063 shares of the semiconductor company’s stock worth $4,143,000 after purchasing an additional 15,930 shares in the last quarter. Plato Investment Management Ltd acquired a new position in Nova in the first quarter worth approximately $208,000. American Century Companies Inc. grew its position in Nova by 9.6% in the second quarter. American Century Companies Inc. now owns 147,657 shares of the semiconductor company’s stock worth $40,635,000 after buying an additional 12,957 shares during the last quarter. Congress Asset Management Co. increased its holdings in shares of Nova by 2.7% in the third quarter. Congress Asset Management Co. now owns 286,076 shares of the semiconductor company’s stock valued at $91,447,000 after buying an additional 7,438 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of Nova by 33.0% during the 2nd quarter. Cetera Investment Advisers now owns 6,662 shares of the semiconductor company’s stock valued at $1,833,000 after acquiring an additional 1,653 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors.

Nova Company 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.