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

Nova Ltd. (NASDAQ:NVMI)’s stock price reached a new 52-week high on Monday . The stock traded as high as $401.49 and last traded at $400.6950, with a volume of 41439 shares trading hands. The stock had previously closed at $394.07.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NVMI shares. Jefferies Financial Group increased their target price on shares of Nova from $360.00 to $390.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Morgan Stanley initiated coverage on shares of Nova in a research report on Monday, December 1st. They set an “equal weight” rating and a $335.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Nova in a research note on Monday, December 22nd. Evercore ISI upped their price target on Nova from $290.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Finally, Bank of America increased their price target on Nova from $380.00 to $450.00 and gave the stock a “buy” rating in a report on Tuesday. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Nova presently has a consensus rating of “Moderate Buy” and a consensus target price of $348.57.

Nova Trading Up 2.1%

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 firm has a 50 day moving average price of $328.09 and a 200 day moving average price of $304.44. The stock has a market capitalization of $12.14 billion, a PE ratio of 53.99, a P/E/G ratio of 2.44 and a beta of 1.84.

Institutional Trading of Nova

Several institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its stake in Nova by 660.4% in the 1st quarter. Royal Bank of Canada now owns 10,668 shares of the semiconductor company’s stock valued at $1,966,000 after buying an additional 9,265 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Nova by 51.6% in the 1st quarter. Advisors Asset Management Inc. now owns 376 shares of the semiconductor company’s stock worth $69,000 after purchasing an additional 128 shares during the period. Voya Investment Management LLC purchased a new position in shares of Nova during the 1st quarter valued at $839,000. Parallel Advisors LLC boosted its position in Nova by 182.7% during the second quarter. Parallel Advisors LLC now owns 212 shares of the semiconductor company’s stock worth $58,000 after purchasing an additional 137 shares during the period. Finally, Lifestyle Asset Management Inc. grew its stake in Nova by 9.4% in the 2nd quarter. Lifestyle Asset Management Inc. now owns 1,690 shares of the semiconductor company’s stock valued at $465,000 after buying an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

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.