Nova Ltd. (NASDAQ:NVMI) Receives $221.25 Consensus Target Price from Brokerages

Nova Ltd. (NASDAQ:NVMI) has been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $221.25.

Several equities analysts have issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Nova in a research report on Friday, May 10th. Evercore ISI assumed coverage on Nova in a research note on Tuesday, April 16th. They set an “outperform” rating and a $210.00 price target on the stock. Bank of America boosted their price target on Nova from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Jefferies Financial Group assumed coverage on Nova in a research note on Monday, May 13th. They set a “buy” rating and a $240.00 price target on the stock. Finally, Benchmark boosted their price target on Nova from $187.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, May 10th.

Institutional Investors Weigh In On Nova

A number of institutional investors and hedge funds have recently bought and sold shares of NVMI. Trexquant Investment LP lifted its stake in Nova by 25.9% in the 3rd quarter. Trexquant Investment LP now owns 10,569 shares of the semiconductor company’s stock valued at $1,188,000 after buying an additional 2,175 shares in the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of Nova by 259.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 17,855 shares of the semiconductor company’s stock worth $2,008,000 after purchasing an additional 12,887 shares during the period. Schonfeld Strategic Advisors LLC lifted its stake in shares of Nova by 51.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 6,379 shares of the semiconductor company’s stock worth $717,000 after purchasing an additional 2,179 shares during the period. American Century Companies Inc. lifted its stake in shares of Nova by 19.8% during the 3rd quarter. American Century Companies Inc. now owns 317,133 shares of the semiconductor company’s stock worth $35,658,000 after purchasing an additional 52,460 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Nova by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 959,065 shares of the semiconductor company’s stock worth $107,837,000 after purchasing an additional 13,988 shares during the period. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Nova Stock Up 1.3 %

Shares of NVMI stock opened at $238.59 on Tuesday. The stock has a market capitalization of $6.93 billion, a PE ratio of 54.97, a price-to-earnings-growth ratio of 3.43 and a beta of 1.47. Nova has a 52-week low of $90.59 and a 52-week high of $242.93. The stock’s 50-day moving average price is $211.85 and its 200 day moving average price is $176.88.

Nova (NASDAQ:NVMI) last issued its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $136.78 million. During the same quarter in the previous year, the firm posted $1.12 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Analysts expect that Nova 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.