Nova Ltd. (NASDAQ:NVMI) Receives $227.80 Consensus Target Price from Analysts

Shares of Nova Ltd. (NASDAQ:NVMI) have received a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $227.80.

A number of research analysts have weighed in on NVMI shares. Benchmark raised their price target on Nova from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Citigroup cut shares of Nova from a “buy” rating to a “neutral” rating and lowered their price target for the company from $273.00 to $224.00 in a report on Monday, September 16th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a research report on Friday, November 8th.

Nova Trading Up 6.6 %

NVMI opened at $183.76 on Friday. The stock has a market capitalization of $5.34 billion, a P/E ratio of 34.28, a P/E/G ratio of 1.73 and a beta of 1.47. The firm’s fifty day simple moving average is $192.51 and its 200 day simple moving average is $208.34. Nova has a 12 month low of $124.42 and a 12 month high of $247.21.

Hedge Funds Weigh In On Nova

Several hedge funds have recently modified their holdings of the company. 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 buying an additional 14,115 shares in the last quarter. Tidal Investments LLC purchased a new position in Nova in the first quarter worth $2,589,000. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of 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 worth $267,487,000 after purchasing an additional 547,833 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Nova by 131.0% during the third 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 in the last quarter. Finally, LMR Partners LLP purchased a new position in Nova in the 3rd quarter worth approximately $15,669,000. 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.