Nova Ltd. (NASDAQ:NVMI) Shares Purchased by TD Asset Management Inc

TD Asset Management Inc boosted its holdings in shares of Nova Ltd. (NASDAQ:NVMI) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,176 shares of the semiconductor company’s stock after buying an additional 136 shares during the period. TD Asset Management Inc’s holdings in Nova were worth $980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its stake in shares of Nova by 231.2% during the first quarter. BNP Paribas Financial Markets now owns 31,083 shares of the semiconductor company’s stock worth $5,514,000 after acquiring an additional 21,699 shares during the last quarter. Vanguard Group Inc. grew its position in Nova by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 987,071 shares of the semiconductor company’s stock worth $175,087,000 after purchasing an additional 14,115 shares during the last quarter. Tidal Investments LLC acquired a new position in Nova during the 1st quarter valued at approximately $2,589,000. Sei Investments Co. raised its holdings in shares of Nova by 12.7% in the first quarter. Sei Investments Co. now owns 128,423 shares of the semiconductor company’s stock worth $22,780,000 after buying an additional 14,508 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Nova during the first quarter worth $38,661,000. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on NVMI. Benchmark upped their target price on Nova from $215.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Citigroup increased their price objective on Nova from $223.00 to $273.00 and gave the company a “buy” rating in a report on Monday, July 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $236.60.

Nova Stock Performance

NASDAQ:NVMI opened at $206.71 on Friday. The firm’s fifty day moving average is $214.26 and its two-hundred day moving average is $202.08. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 47.63, a PEG ratio of 2.49 and a beta of 1.46. Nova Ltd. has a one year low of $90.59 and a one year high of $247.21.

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

Nova 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.