Nova (NASDAQ:NVMI) Trading Down 2.8% – Should You Sell?

Nova Ltd. (NASDAQ:NVMI)’s share price fell 2.8% during trading on Wednesday . The stock traded as low as $168.03 and last traded at $169.68. 100,781 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 190,145 shares. The stock had previously closed at $174.53.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Citigroup downgraded Nova from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $273.00 to $224.00 in a research report on Monday, September 16th. Needham & Company LLC reiterated a “hold” rating on shares of Nova in a research report on Friday, November 8th. Finally, Benchmark increased their price objective on Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $227.80.

Nova Trading Down 2.0 %

The business’s 50 day simple moving average is $193.90 and its two-hundred day simple moving average is $208.81. The firm has a market capitalization of $4.97 billion, a P/E ratio of 32.56, a price-to-earnings-growth ratio of 1.66 and a beta of 1.47.

Hedge Funds Weigh In On Nova

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of 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 acquiring an additional 14,115 shares during the last quarter. Tidal Investments LLC bought a new stake in Nova in the first quarter worth about $2,589,000. Clal Insurance Enterprises Holdings Ltd lifted its stake in Nova by 74.6% in the third 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 during the last quarter. LMR Partners LLP bought a new stake in Nova in the third quarter worth about $15,669,000. Finally, Assenagon Asset Management S.A. lifted its stake in Nova by 29.5% in the third quarter. Assenagon Asset Management S.A. now owns 166,859 shares of the semiconductor company’s stock worth $34,940,000 after purchasing an additional 38,005 shares during the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

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.