Nova Ltd. (NASDAQ:NVMI) Receives Average Rating of “Moderate Buy” from Brokerages

Nova Ltd. (NASDAQ:NVMI) has received a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $277.00.

Several research analysts have weighed in on NVMI shares. Wall Street Zen downgraded shares of Nova from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Cantor Fitzgerald decreased their price target on shares of Nova from $315.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. Bank of America reduced their price objective on shares of Nova from $310.00 to $248.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Citigroup reduced their price objective on shares of Nova from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Finally, Benchmark reduced their price objective on shares of Nova from $295.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, May 9th.

Institutional Trading of Nova

A number of hedge funds and other institutional investors have recently modified their holdings of the company. ASR Vermogensbeheer N.V. purchased a new position in Nova during the first quarter valued at $26,000. Advisors Asset Management Inc. grew its stake in Nova by 51.6% during the first quarter. Advisors Asset Management Inc. now owns 376 shares of the semiconductor company’s stock valued at $69,000 after acquiring an additional 128 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Nova by 24.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 401 shares of the semiconductor company’s stock valued at $79,000 after acquiring an additional 78 shares in the last quarter. Quarry LP grew its stake in shares of Nova by 187.1% in the 4th quarter. Quarry LP now owns 402 shares of the semiconductor company’s stock worth $79,000 after buying an additional 262 shares in the last quarter. Finally, Flaharty Asset Management LLC purchased a new position in shares of Nova in the 1st quarter worth $92,000. 82.99% of the stock is owned by hedge funds and other institutional investors.

Nova Trading Down 0.4%

NVMI opened at $231.17 on Tuesday. Nova has a 1-year low of $154.00 and a 1-year high of $289.90. The company has a market capitalization of $6.80 billion, a PE ratio of 34.92, a PEG ratio of 2.03 and a beta of 1.61. The firm’s 50 day simple moving average is $201.08 and its two-hundred day simple moving average is $211.88.

Nova (NASDAQ:NVMI) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.10. Nova had a net margin of 28.46% and a return on equity of 23.98%. The business had revenue of $213.36 million for the quarter, compared to the consensus estimate of $210.10 million. During the same period last year, the firm earned $1.39 earnings per share. The company’s quarterly revenue was up 50.5% on a year-over-year basis. Equities analysts forecast that Nova will post 7.52 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.