Analysts Set Nova Ltd. (NASDAQ:NVMI) Price Target at $226.80

Nova Ltd. (NASDAQ:NVMI) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $226.80.

NVMI has been the subject of a number of research analyst reports. Citigroup downgraded shares of Nova from a “buy” rating to a “neutral” rating and cut their price target for the company from $273.00 to $224.00 in a report on Monday, September 16th. Benchmark raised their target price on shares of Nova from $215.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, August 9th.

Nova Price Performance

Shares of Nova stock opened at $216.49 on Thursday. Nova has a 1-year low of $90.59 and a 1-year high of $247.21. The business’s fifty day moving average price is $209.58 and its two-hundred day moving average price is $205.56. The company has a market capitalization of $6.29 billion, a P/E ratio of 45.01, a PEG ratio of 2.08 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. The business had revenue of $156.86 million during 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%. The company’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.97 earnings per share. On average, research analysts expect that Nova will post 5.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nova

Several hedge funds have recently made changes to their positions in the company. Evergreen Capital Management LLC raised its stake in Nova by 5.0% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,230 shares of the semiconductor company’s stock valued at $288,000 after purchasing an additional 59 shares during the period. Vancity Investment Management Ltd boosted its position in Nova by 1.9% during the 1st quarter. Vancity Investment Management Ltd now owns 4,969 shares of the semiconductor company’s stock worth $881,000 after acquiring an additional 95 shares during the period. Signaturefd LLC grew its stake in Nova by 15.9% during the 2nd quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock valued at $180,000 after acquiring an additional 105 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Nova by 3.4% in the 2nd quarter. TD Asset Management Inc now owns 4,176 shares of the semiconductor company’s stock valued at $980,000 after purchasing an additional 136 shares during the period. Finally, Creative Planning lifted its position in shares of Nova by 4.5% in the second quarter. Creative Planning now owns 3,567 shares of the semiconductor company’s stock worth $837,000 after purchasing an additional 155 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

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.