Performance Wealth Partners LLC Acquires New Position in Nova Ltd. $NVMI

Performance Wealth Partners LLC purchased a new stake in shares of Nova Ltd. (NASDAQ:NVMI) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,775 shares of the semiconductor company’s stock, valued at approximately $964,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Smartleaf Asset Management LLC acquired a new position in shares of Nova in the 4th quarter valued at $29,000. Measured Wealth Private Client Group LLC purchased a new stake in Nova during the 3rd quarter valued at about $40,000. CIBC Private Wealth Group LLC grew its stake in Nova by 75.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 130 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 56 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings 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 valued at $48,000 after purchasing an additional 143 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in shares of Nova by 51.6% in the first quarter. Advisors Asset Management Inc. now owns 376 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 128 shares during the period. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Nova Stock Up 0.6%

Shares of NVMI stock opened at $420.79 on Tuesday. Nova Ltd. has a 52-week low of $232.73 and a 52-week high of $615.99. The stock has a market cap of $13.37 billion, a PE ratio of 52.08, a price-to-earnings-growth ratio of 2.45 and a beta of 1.78. The business has a 50-day simple moving average of $468.52 and a 200-day simple moving average of $473.52.

Nova (NASDAQ:NVMI) last posted its earnings results on Friday, August 7th. The semiconductor company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.41 by $0.10. The firm had revenue of $254.96 million for the quarter, compared to analyst estimates of $250.33 million. Nova had a return on equity of 21.41% and a net margin of 28.84%.Nova’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $2.20 earnings per share. Sell-side analysts anticipate that Nova Ltd. will post 9.74 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Eitan Oppenhaim sold 1,290 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $581.20, for a total transaction of $749,748.00. Following the sale, the director owned 6,421 shares of the company’s stock, valued at $3,731,885.20. This trade represents a 16.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gabriel Waisman sold 2,966 shares of Nova stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $501.30, for a total transaction of $1,486,855.80. Following the transaction, the chief executive officer directly owned 28,714 shares of the company’s stock, valued at approximately $14,394,328.20. This trade represents a 9.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,946 shares of company stock worth $3,686,920 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

NVMI has been the subject of a number of research reports. Citigroup decreased their target price on Nova from $595.00 to $550.00 and set a “buy” rating for the company in a report on Monday, August 10th. Weiss Ratings lowered shares of Nova from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 7th. Barclays lifted their price objective on shares of Nova from $465.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. 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 report on Monday, July 6th. Finally, Zacks Research upgraded shares of Nova from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $514.44.

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.