Nova Ltd. (NASDAQ:NVMI) Receives $236.60 Consensus Price Target from Analysts

Shares of Nova Ltd. (NASDAQ:NVMI) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $226.80.

Several brokerages have recently weighed in on NVMI. Benchmark increased their target price on shares of Nova from $215.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Citigroup downgraded shares of Nova from a “buy” rating to a “neutral” rating and reduced their target price for the company from $273.00 to $224.00 in a research note on Monday.

Hedge Funds Weigh In On Nova

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

Nova Stock Up 2.9 %

Nova stock opened at $194.71 on Friday. The company has a market cap of $5.66 billion, a price-to-earnings ratio of 44.86, a PEG ratio of 2.49 and a beta of 1.46. The firm’s fifty day moving average is $212.25 and its 200 day moving average is $202.52. Nova has a 52-week low of $90.59 and a 52-week high of $247.21.

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

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.