8,854 Shares in Nova Ltd. $NVMI Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new position in shares of Nova Ltd. (NASDAQ:NVMI) during the 2nd quarter, Holdings Channel.com reports. The firm bought 8,854 shares of the semiconductor company’s stock, valued at approximately $4,671,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NVMI. Smartleaf Asset Management LLC bought a new stake in shares of Nova in the 4th quarter valued at about $29,000. Allworth Financial LP bought a new position in shares of Nova during the second quarter worth about $38,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Nova in the third quarter worth approximately $40,000. CIBC Private Wealth Group LLC lifted its stake in shares of Nova by 75.7% in the third quarter. CIBC Private Wealth Group LLC now owns 130 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 56 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Nova by 2,042.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 143 shares during the period. 82.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Nova from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Needham & Company LLC dropped their price target on shares of Nova from $640.00 to $570.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Morgan Stanley upped their price objective on shares of Nova from $494.00 to $540.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Citigroup lowered their target price on shares of Nova from $595.00 to $550.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Finally, Evercore set a $475.00 target price on shares of Nova in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Nova currently has a consensus rating of “Moderate Buy” and a consensus target price of $514.44.

Nova Stock Performance

NVMI stock opened at $348.45 on Tuesday. Nova Ltd. has a fifty-two week low of $232.73 and a fifty-two week high of $615.99. The stock’s 50 day simple moving average is $430.38 and its 200 day simple moving average is $467.43. The company has a market cap of $11.07 billion, a P/E ratio of 43.13, a price-to-earnings-growth ratio of 2.02 and a beta of 1.78.

Nova (NASDAQ:NVMI) last announced its quarterly earnings results on Friday, August 7th. The semiconductor company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.10. Nova had a net margin of 28.84% and a return on equity of 21.41%. The business had revenue of $254.96 million during the quarter, compared to analyst estimates of $250.33 million. During the same quarter in the previous year, the business posted $2.20 EPS. Nova’s quarterly revenue was up 15.9% on a year-over-year basis. Equities analysts predict that Nova Ltd. will post 9.89 earnings per share for the current year.

Insider Buying and Selling at Nova

In related news, Director Sarit Sagiv sold 454 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $536.52, for a total value of $243,580.08. Following the sale, the director owned 1,951 shares in the company, valued at $1,046,750.52. This represents a 18.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Yaniv Garty sold 366 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $581.20, for a total transaction of $212,719.20. Following the completion of the transaction, the director directly owned 2,006 shares in the company, valued at approximately $1,165,887.20. The trade was a 15.43% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 5,442 shares of company stock valued at $2,905,622. Insiders own 1.00% of the company’s stock.

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.