Nova (NASDAQ:NVMI) Stock Price Up 6.2% – Should You Buy?

Nova Ltd. (NASDAQ:NVMI)’s share price traded up 6.2% during trading on Friday . The stock traded as high as $183.33 and last traded at $183.10. 21,366 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 190,364 shares. The stock had previously closed at $172.39.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Citigroup lowered Nova from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $273.00 to $224.00 in a research note on Monday, September 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a research report on Friday, November 8th. Finally, Benchmark raised their target price on shares of Nova from $240.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $227.80.

Nova Stock Performance

The company has a market cap of $5.34 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 1.63 and a beta of 1.47. The business has a fifty day moving average price of $192.51 and a 200 day moving average price of $208.30.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Clal Insurance Enterprises Holdings Ltd lifted its stake in Nova by 74.6% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,281,869 shares of the semiconductor company’s stock valued at $267,487,000 after purchasing an additional 547,833 shares during the last quarter. LMR Partners LLP acquired a new stake in shares of Nova during the 3rd quarter valued at $15,669,000. Quantbot Technologies LP grew its position in Nova by 131.0% during the 3rd quarter. Quantbot Technologies LP now owns 13,540 shares of the semiconductor company’s stock worth $2,821,000 after acquiring an additional 7,678 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Nova by 29.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 166,859 shares of the semiconductor company’s stock worth $34,940,000 after purchasing an additional 38,005 shares in the last quarter. Finally, Semanteon Capital Management LP raised its position in Nova by 222.2% in the third quarter. Semanteon Capital Management LP now owns 4,681 shares of the semiconductor company’s stock valued at $975,000 after purchasing an additional 3,228 shares during the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

About Nova

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.