Nova Ltd. (NASDAQ:NVMI) Short Interest Update

Nova Ltd. (NASDAQ:NVMI) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 1,642,316 shares, a growth of 22.9% from the February 26th total of 1,336,001 shares. Based on an average daily volume of 376,951 shares, the short-interest ratio is currently 4.4 days. Currently, 5.2% of the shares of the stock are sold short.

Institutional Trading of Nova

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC grew its position in shares of Nova by 94.3% during the 4th quarter. Hsbc Holdings PLC now owns 27,115 shares of the semiconductor company’s stock worth $9,077,000 after buying an additional 13,160 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of Nova by 19.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,084 shares of the semiconductor company’s stock valued at $1,013,000 after acquiring an additional 501 shares during the period. Virtu Financial LLC raised its position in shares of Nova by 579.3% in the 4th quarter. Virtu Financial LLC now owns 4,762 shares of the semiconductor company’s stock valued at $1,564,000 after acquiring an additional 4,061 shares during the period. Invesco Ltd. boosted its stake in Nova by 4.4% during the 4th quarter. Invesco Ltd. now owns 634,284 shares of the semiconductor company’s stock worth $208,293,000 after acquiring an additional 26,940 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Nova during the fourth quarter valued at approximately $543,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Nova Price Performance

Shares of NVMI stock traded down $27.49 during trading hours on Monday, reaching $413.23. 460,906 shares of the company were exchanged, compared to its average volume of 368,655. Nova has a fifty-two week low of $153.99 and a fifty-two week high of $507.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 6.28 and a quick ratio of 5.47. The stock’s fifty day moving average is $450.05 and its two-hundred day moving average is $372.26. The company has a market cap of $13.13 billion, a price-to-earnings ratio of 51.59, a P/E/G ratio of 3.22 and a beta of 1.83.

Nova (NASDAQ:NVMI) last posted its quarterly earnings data on Friday, February 13th. The semiconductor company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.01. The firm had revenue of $222.62 million during the quarter, compared to analysts’ expectations of $220.43 million. Nova had a net margin of 29.44% and a return on equity of 22.90%. Nova’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.94 EPS. Sell-side analysts forecast that Nova will post 7.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on NVMI shares. Barclays initiated coverage on shares of Nova in a research note on Wednesday, March 11th. They set an “overweight” rating and a $465.00 price objective on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $520.00 target price on shares of Nova in a report on Thursday, February 12th. Citigroup increased their price target on Nova from $370.00 to $520.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Bank of America raised their price target on Nova from $380.00 to $450.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Finally, Morgan Stanley reiterated an “outperform” rating and issued a $453.00 price objective on shares of Nova in a research report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $442.25.

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.