Edmond DE Rothschild Holding S.A. Takes $2.65 Million Position in Nova Ltd. $NVMI

Edmond DE Rothschild Holding S.A. acquired a new stake in Nova Ltd. (NASDAQ:NVMI) during the second quarter, Holdings Channel.com reports. The firm acquired 5,007 shares of the semiconductor company’s stock, valued at approximately $2,647,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NVMI. Smartleaf Asset Management LLC bought a new stake in Nova during the fourth quarter worth approximately $29,000. Measured Wealth Private Client Group LLC acquired a new position in Nova during the third quarter valued at approximately $40,000. CIBC Private Wealth Group LLC raised its position in shares of Nova by 75.7% in the third quarter. CIBC Private Wealth Group LLC now owns 130 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 56 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of Nova by 2,042.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 143 shares during the period. Finally, TD Private Client Wealth LLC acquired a new stake in shares of Nova in the fourth quarter worth $74,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on NVMI. Cantor Fitzgerald decreased their price objective on shares of Nova from $600.00 to $500.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Citigroup dropped their target price on shares of Nova from $595.00 to $550.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Barclays boosted their target price on shares of Nova from $465.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Jefferies Financial Group restated a “buy” rating and set a $600.00 price target on shares of Nova in a report on Thursday, August 6th. Finally, Weiss Ratings downgraded Nova from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $514.44.

Nova Price Performance

NASDAQ:NVMI opened at $383.87 on Friday. The stock has a market cap of $12.20 billion, a P/E ratio of 47.51, a PEG ratio of 2.23 and a beta of 1.78. Nova Ltd. has a one year low of $232.73 and a one year high of $615.99. The company has a fifty day moving average price of $460.08 and a 200 day moving average price of $471.53.

Nova (NASDAQ:NVMI) last posted its quarterly earnings results on Friday, August 7th. The semiconductor company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.10. Nova had a net margin of 28.84% and a return on equity of 21.41%. The company had revenue of $254.96 million for the quarter, compared to analyst estimates of $250.33 million. During the same period last year, the business posted $2.20 EPS. The business’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities research analysts anticipate that Nova Ltd. will post 9.89 EPS for the current year.

Insider Activity at Nova

In related news, Director Eitan Oppenhaim sold 1,290 shares of Nova stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $581.20, for a total transaction of $749,748.00. Following the sale, the director directly owned 6,421 shares of the company’s stock, valued at $3,731,885.20. This trade represents a 16.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sarit Sagiv sold 454 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $536.52, for a total value of $243,580.08. Following the transaction, the director owned 1,951 shares in the company, valued at $1,046,750.52. This represents a 18.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,946 shares of company stock worth $3,686,920 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Nova Profile

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.