The Manufacturers Life Insurance Company Purchases New Position in Nova Ltd. (NASDAQ:NVMI)

The Manufacturers Life Insurance Company purchased a new stake in Nova Ltd. (NASDAQ:NVMI) during the 2nd quarter, HoldingsChannel reports. The fund purchased 900 shares of the semiconductor company’s stock, valued at approximately $211,000.

Other institutional investors have also bought and sold shares of the company. Employees Retirement System of Texas acquired a new stake in Nova in the 2nd quarter valued at $68,000. FSC Wealth Advisors LLC bought a new position in Nova in the 2nd quarter valued at $79,000. Signaturefd LLC raised its position in Nova by 15.9% in the 2nd quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock valued at $180,000 after purchasing an additional 105 shares during the last quarter. OLD National Bancorp IN bought a new position in Nova in the 2nd quarter valued at $205,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Nova in the 2nd quarter valued at $232,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NVMI shares. Citigroup downgraded Nova from a “buy” rating to a “neutral” rating and cut their price objective for the company from $273.00 to $224.00 in a research report on Monday, September 16th. Benchmark lifted their price objective on Nova from $215.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Nova currently has an average rating of “Moderate Buy” and an average target price of $226.80.

Nova Stock Down 1.6 %

NVMI stock opened at $184.21 on Friday. The company has a market cap of $5.35 billion, a P/E ratio of 42.44, a PEG ratio of 2.08 and a beta of 1.46. Nova Ltd. has a twelve month low of $90.59 and a twelve month high of $247.21. The business has a fifty day moving average of $209.56 and a 200-day moving average of $206.18.

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