Point72 Asset Management L.P. Has $5.06 Million Stock Position in Nova Ltd. (NASDAQ:NVMI)

Point72 Asset Management L.P. cut its holdings in Nova Ltd. (NASDAQ:NVMI) by 67.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,284 shares of the semiconductor company’s stock after selling 51,173 shares during the period. Point72 Asset Management L.P. owned approximately 0.08% of Nova worth $5,059,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of NVMI. Evergreen Capital Management LLC lifted its position in shares of Nova by 5.0% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,230 shares of the semiconductor company’s stock valued at $288,000 after acquiring an additional 59 shares during the period. Advisors Asset Management Inc. raised its stake in Nova by 89.7% in the third quarter. Advisors Asset Management Inc. now owns 165 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 78 shares in the last quarter. Signaturefd LLC raised its stake in Nova by 15.9% in the second quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock valued at $180,000 after purchasing an additional 105 shares in the last quarter. Morse Asset Management Inc lifted its position in Nova by 3.2% during the third quarter. Morse Asset Management Inc now owns 4,030 shares of the semiconductor company’s stock worth $840,000 after purchasing an additional 125 shares during the period. Finally, TD Asset Management Inc grew its stake in Nova by 3.4% during the second quarter. TD Asset Management Inc now owns 4,176 shares of the semiconductor company’s stock worth $980,000 after buying an additional 136 shares in the last quarter. 82.99% of the stock is owned by institutional investors.

Nova Trading Up 5.0 %

NVMI opened at $195.18 on Monday. The company has a market cap of $5.67 billion, a P/E ratio of 36.41, a PEG ratio of 1.79 and a beta of 1.44. The company’s 50 day moving average is $191.00 and its 200-day moving average is $207.95. Nova Ltd. has a 1-year low of $124.42 and a 1-year high of $247.21.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NVMI. 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 research report on Monday, September 16th. Benchmark boosted their price objective on shares of Nova from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $227.80.

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.