Nova Ltd. (NASDAQ:NVMI) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its stake in shares of Nova Ltd. (NASDAQ:NVMI) by 51.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,858 shares of the semiconductor company’s stock after selling 33,142 shares during the quarter. Wellington Management Group LLP owned about 0.11% of Nova worth $4,377,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cerity Partners LLC acquired a new position in shares of Nova during the 4th quarter valued at about $201,000. D.A. Davidson & CO. acquired a new position in shares of Nova during the 4th quarter valued at about $210,000. Pinnacle Financial Partners Inc acquired a new position in shares of Nova during the 4th quarter valued at about $218,000. Olympiad Research LP acquired a new position in shares of Nova during the 4th quarter valued at about $282,000. Finally, Bank Hapoalim BM increased its position in Nova by 13.1% during the 4th quarter. Bank Hapoalim BM now owns 2,166 shares of the semiconductor company’s stock worth $298,000 after purchasing an additional 251 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NVMI. Bank of America lifted their price target on shares of Nova from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Jefferies Financial Group began coverage on Nova in a report on Monday, May 13th. They issued a “buy” rating and a $240.00 price target for the company. Benchmark boosted their price objective on Nova from $187.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Needham & Company LLC reiterated a “hold” rating on shares of Nova in a research note on Friday, May 10th. Finally, Evercore ISI initiated coverage on Nova in a report on Tuesday, April 16th. They set an “outperform” rating and a $210.00 target price on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.25.

Nova Price Performance

Shares of Nova stock opened at $234.53 on Friday. Nova Ltd. has a 1-year low of $90.59 and a 1-year high of $242.93. The company has a market capitalization of $6.81 billion, a PE ratio of 54.04, a P/E/G ratio of 3.42 and a beta of 1.42. The business has a 50-day moving average of $206.31 and a 200-day moving average of $174.28.

Nova (NASDAQ:NVMI) last issued its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.29. Nova had a return on equity of 19.89% and a net margin of 26.26%. The firm had revenue of $141.80 million during the quarter, compared to analyst estimates of $136.78 million. During the same quarter last year, the firm earned $1.12 EPS. Nova’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities analysts expect that Nova Ltd. will post 4.79 earnings per share for the current fiscal year.

Nova Company Profile

Nova Ltd. designs, develops, produces, and sells process control systems used in the manufacture of semiconductors in Israel, Taiwan, the United States, China, Korea, and internationally. Its product portfolio includes a set of metrology platforms for dimensional, films, and materials and chemical metrology measurements for process control for various semiconductor manufacturing process steps, including lithography, etch, chemical mechanical planarization, deposition, electrochemical plating, and advanced packaging.