Brokerages Set Nova Ltd. (NASDAQ:NVMI) PT at $348.57

Shares of Nova Ltd. (NASDAQ:NVMI) have earned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $348.5714.

A number of analysts recently weighed in on NVMI shares. Jefferies Financial Group raised 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. Bank of America raised their price objective on Nova from $380.00 to $450.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Evercore boosted their target price on Nova from $290.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. 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 for the company. Finally, Benchmark lifted their price target on Nova from $280.00 to $345.00 and gave the stock a “buy” rating in a research note on Friday, November 7th.

Institutional Investors Weigh In On Nova

Several hedge funds have recently made changes to their positions in NVMI. Measured Wealth Private Client Group LLC purchased a new position in Nova during the 3rd quarter worth approximately $40,000. CIBC Private Wealth Group LLC boosted its position 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 buying an additional 56 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in shares of Nova by 2,042.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 143 shares in the last quarter. SBI Securities Co. Ltd. raised its position in Nova by 51.9% during the second quarter. SBI Securities Co. Ltd. now owns 164 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 56 shares during the period. Finally, TD Private Client Wealth LLC acquired a new position in Nova during the fourth quarter valued at $74,000. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Nova Price Performance

Shares of Nova stock opened at $475.83 on Thursday. Nova has a 52 week low of $153.99 and a 52 week high of $507.27. The company has a current ratio of 4.58, a quick ratio of 4.00 and a debt-to-equity ratio of 0.62. The stock has a market cap of $13.99 billion, a PE ratio of 62.20, a price-to-earnings-growth ratio of 2.78 and a beta of 1.84. The company’s 50-day moving average price is $390.31 and its two-hundred day moving average price is $329.56.

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.