Nova (NASDAQ:NVMI) Sets New 12-Month High at $242.93

Shares of Nova Ltd. (NASDAQ:NVMI) reached a new 52-week high on Tuesday . The stock traded as high as $242.93 and last traded at $241.92, with a volume of 36767 shares traded. The stock had previously closed at $239.09.

Analyst Ratings Changes

Several brokerages have commented on NVMI. Jefferies Financial Group began coverage on shares of Nova in a research note on Monday, May 13th. They issued a “buy” rating and a $240.00 price target on the stock. Evercore ISI began coverage on Nova in a report on Tuesday, April 16th. They issued an “outperform” rating and a $210.00 target price for the company. Benchmark lifted their price target on Nova from $187.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Needham & Company LLC reiterated a “hold” rating on shares of Nova in a research note on Friday, May 10th. Finally, Bank of America raised their price target on Nova from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $221.25.

Nova Stock Up 0.4 %

The company’s fifty day moving average price is $195.08 and its two-hundred day moving average price is $167.89. The firm has a market cap of $6.97 billion, a PE ratio of 55.39, a P/E/G ratio of 3.46 and a beta of 1.42.

Nova (NASDAQ:NVMI) last announced its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.29. Nova had a return on equity of 19.89% and a net margin of 26.26%. The company had revenue of $141.80 million for the quarter, compared to analyst estimates of $136.78 million. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.12 EPS. As a group, analysts predict that Nova Ltd. will post 4.79 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NVMI. TimesSquare Capital Management LLC grew its position in shares of Nova by 8.1% in the fourth quarter. TimesSquare Capital Management LLC now owns 71,770 shares of the semiconductor company’s stock valued at $9,860,000 after purchasing an additional 5,370 shares during the last quarter. UBS Group AG raised its position in shares of Nova by 20.9% in the fourth quarter. UBS Group AG now owns 52,423 shares of the semiconductor company’s stock valued at $7,202,000 after buying an additional 9,058 shares during the last quarter. State of Tennessee Treasury Department lifted its stake in shares of Nova by 17.2% during the fourth quarter. State of Tennessee Treasury Department now owns 82,443 shares of the semiconductor company’s stock valued at $11,327,000 after buying an additional 12,120 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its stake in Nova by 3.3% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,070,485 shares of the semiconductor company’s stock worth $147,074,000 after acquiring an additional 33,800 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its holdings in Nova by 2.1% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,312,919 shares of the semiconductor company’s stock valued at $147,625,000 after acquiring an additional 27,050 shares during the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

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.