Analysts Set Nova Ltd. (NASDAQ:NVMI) Target Price at $227.80

Shares of Nova Ltd. (NASDAQ:NVMI) have received a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $227.80.

NVMI has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a research note on Friday, November 8th. Citigroup cut shares of Nova from a “buy” rating to a “neutral” rating and dropped their target price for the company from $273.00 to $224.00 in a report on Monday, September 16th. Finally, Benchmark boosted their price target on Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 8th.

Nova Price Performance

Shares of NVMI stock opened at $185.89 on Friday. The business’s fifty day moving average price is $191.29 and its 200 day moving average price is $207.98. The firm has a market capitalization of $5.40 billion, a PE ratio of 34.68, a P/E/G ratio of 1.79 and a beta of 1.44. Nova has a 1-year low of $124.42 and a 1-year high of $247.21.

Institutional Trading of Nova

Large investors have recently modified their holdings of the business. Quarry LP raised its position in shares of Nova by 438.5% during the 3rd quarter. Quarry LP now owns 140 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 114 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Nova by 89.7% in the third quarter. Advisors Asset Management Inc. now owns 165 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 78 shares during the last quarter. Employees Retirement System of Texas purchased a new stake in shares of Nova in the second quarter valued at $68,000. FSC Wealth Advisors LLC purchased a new stake in shares of Nova in the second quarter valued at $79,000. Finally, Signaturefd LLC boosted its stake in shares of Nova by 15.9% during the second quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock valued at $180,000 after acquiring an additional 105 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors and hedge funds.

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.