Nova (NASDAQ:NVMI) Hits New 52-Week High – Here’s What Happened

Nova Ltd. (NASDAQ:NVMI)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $459.01 and last traded at $457.8460, with a volume of 65767 shares traded. The stock had previously closed at $445.70.

Analyst Ratings Changes

NVMI has been the topic of a number of research analyst reports. Morgan Stanley initiated coverage on Nova in a report on Monday, December 1st. They set an “equal weight” rating and a $335.00 target price on the stock. Evercore ISI upped their price target on Nova from $290.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Bank of America lifted their price objective on shares of Nova from $380.00 to $450.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. 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 report on Monday, December 15th. Finally, Benchmark raised their price target on shares of Nova from $280.00 to $345.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $348.57.

Nova Stock Up 2.9%

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’s 50-day moving average price is $335.81 and its 200 day moving average price is $308.14. The firm has a market cap of $13.49 billion, a P/E ratio of 59.79, a price-to-earnings-growth ratio of 2.69 and a beta of 1.84.

Hedge Funds Weigh In On Nova

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVMI. American Century Companies Inc. boosted its holdings in Nova by 9.6% during 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 in the last quarter. Congress Asset Management Co. lifted its position in shares of Nova by 2.7% during the 3rd quarter. Congress Asset Management Co. now owns 286,076 shares of the semiconductor company’s stock valued at $91,447,000 after acquiring an additional 7,438 shares during the last quarter. Cetera Investment Advisers boosted its stake 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 worth $1,833,000 after acquiring an additional 1,653 shares in the last quarter. Y.D. More Investments Ltd raised its position in shares of Nova by 6.8% during the second quarter. Y.D. More Investments Ltd now owns 318,035 shares of the semiconductor company’s stock worth $89,781,000 after purchasing an additional 20,114 shares during the period. Finally, Associated Banc Corp purchased a new stake in shares of Nova during the second quarter valued at $248,000. 82.99% of the stock is owned by institutional investors.

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.