JPMorgan Chase & Co. Has $5.52 Million Stock Holdings in Nova Ltd. $NVMI

JPMorgan Chase & Co. decreased its position in Nova Ltd. (NASDAQ:NVMI) by 99.0% during the 3rd quarter, Holdings Channel reports. The firm owned 17,270 shares of the semiconductor company’s stock after selling 1,769,472 shares during the quarter. JPMorgan Chase & Co.’s holdings in Nova were worth $5,521,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NVMI. Mirae Asset Global Investments Co. Ltd. acquired a new position in Nova in the third quarter valued at about $10,153,000. Congress Asset Management Co. increased its holdings in shares of Nova by 2.7% during the third quarter. Congress Asset Management Co. now owns 286,076 shares of the semiconductor company’s stock worth $91,447,000 after buying an additional 7,438 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Nova during the third quarter worth approximately $1,375,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Nova by 6.4% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,428,607 shares of the semiconductor company’s stock valued at $456,669,000 after acquiring an additional 86,438 shares during the last quarter. Finally, Munro Partners boosted its holdings in shares of Nova by 65.2% in the 3rd quarter. Munro Partners now owns 23,930 shares of the semiconductor company’s stock worth $7,649,000 after acquiring an additional 9,445 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NVMI shares. Bank of America increased their price target on Nova from $380.00 to $450.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Citigroup boosted their price objective on Nova from $370.00 to $520.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Evercore restated an “outperform” rating and set a $485.00 target price on shares of Nova in a report on Friday, February 13th. Weiss Ratings restated a “hold (c)” rating on shares of Nova in a research note on Monday, December 22nd. Finally, Morgan Stanley reaffirmed an “outperform” rating and issued a $453.00 price target on shares of Nova in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $442.25.

Nova Price Performance

NVMI opened at $445.75 on Thursday. Nova Ltd. has a one year low of $153.99 and a one year high of $507.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 6.28 and a quick ratio of 5.47. The company’s 50 day simple moving average is $449.35 and its 200-day simple moving average is $373.76. The stock has a market capitalization of $14.17 billion, a P/E ratio of 55.65, a price-to-earnings-growth ratio of 3.17 and a beta of 1.80.

Nova (NASDAQ:NVMI) last issued its quarterly earnings results on Friday, February 13th. The semiconductor company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.01. Nova had a net margin of 29.44% and a return on equity of 22.90%. The business had revenue of $222.62 million during the quarter, compared to analyst estimates of $220.43 million. During the same quarter last year, the business posted $1.94 earnings per share. Nova’s revenue for the quarter was up 14.3% compared to the same quarter last year. Sell-side analysts anticipate that Nova Ltd. will post 7.52 earnings per share for the current fiscal year.

About Nova

Nova Measuring Instruments Ltd (NASDAQ: NVMI) develops and supplies advanced metrology and process control systems for the semiconductor manufacturing industry. The company’s core product line includes spectroscopic ellipsometry and scatterometry tools designed to measure film thickness, critical dimensions, overlay alignment and other key parameters that drive yield and performance in integrated circuit fabrication.

Founded in 1993 and headquartered in Rehovot, Israel, Nova Measuring Instruments has established itself as a critical partner to leading semiconductor foundries and device manufacturers.