Oppenheimer Asset Management Inc. Buys 2,482 Shares of Nova Ltd. (NASDAQ:NVMI)

Oppenheimer Asset Management Inc. grew its stake in shares of Nova Ltd. (NASDAQ:NVMI) by 25.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,207 shares of the semiconductor company’s stock after acquiring an additional 2,482 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Nova were worth $2,863,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in Nova during the fourth quarter worth about $9,409,000. UBS Group AG raised its holdings in Nova by 20.9% during the 4th quarter. UBS Group AG now owns 52,423 shares of the semiconductor company’s stock valued at $7,202,000 after acquiring an additional 9,058 shares during the period. D.A. Davidson & CO. purchased a new stake in shares of Nova during the fourth quarter worth $210,000. Olympiad Research LP bought a new position in shares of Nova in the fourth quarter worth $282,000. Finally, Evoke Wealth LLC bought a new position in shares of Nova in the fourth quarter worth $2,754,000. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Analyst Ratings Changes

NVMI has been the topic of a number of recent research reports. Citigroup cut Nova from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $273.00 to $224.00 in a report on Monday. Benchmark raised their price objective on shares of Nova from $215.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Nova has a consensus rating of “Moderate Buy” and a consensus target price of $226.80.

Nova Stock Down 8.4 %

Shares of NASDAQ NVMI opened at $189.27 on Tuesday. The stock’s 50-day simple moving average is $213.25 and its two-hundred day simple moving average is $202.44. Nova Ltd. has a twelve month low of $90.59 and a twelve month high of $247.21. The firm has a market capitalization of $5.50 billion, a P/E ratio of 43.61, a P/E/G ratio of 2.49 and a beta of 1.46.

Nova (NASDAQ:NVMI) last posted its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.43. Nova had a net margin of 27.38% and a return on equity of 20.76%. The company had revenue of $156.86 million for the quarter, compared to analysts’ expectations of $148.12 million. During the same period in the prior year, the business earned $0.97 earnings per share. Nova’s revenue for the quarter was up 27.8% compared to the same quarter last year. As a group, research analysts anticipate that Nova Ltd. will post 5.63 EPS 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.