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

Shares of Nova Ltd. (NASDAQ:NVMI) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $238.33.

Several equities research analysts recently commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of Nova in a report on Friday, November 8th. Citigroup upgraded Nova from a “neutral” rating to a “buy” rating and boosted their price target for the company from $226.00 to $240.00 in a research note on Monday, January 6th. Cantor Fitzgerald started coverage on Nova in a research note on Monday, January 13th. They set an “overweight” rating and a $275.00 price target for the company. Finally, Benchmark boosted their price target on Nova from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 8th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Quantbot Technologies LP lifted its position in shares of Nova by 131.0% during the 3rd quarter. Quantbot Technologies LP now owns 13,540 shares of the semiconductor company’s stock valued at $2,821,000 after buying an additional 7,678 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Nova by 74.6% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,281,869 shares of the semiconductor company’s stock valued at $267,487,000 after buying an additional 547,833 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Nova by 121.9% during the 3rd quarter. Two Sigma Advisers LP now owns 145,100 shares of the semiconductor company’s stock valued at $30,230,000 after buying an additional 79,700 shares in the last quarter. LMR Partners LLP purchased a new position in shares of Nova during the 3rd quarter valued at about $15,669,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Nova during the 3rd quarter valued at about $967,000. 82.99% of the stock is owned by hedge funds and other institutional investors.

Nova Stock Performance

NASDAQ NVMI opened at $252.38 on Friday. Nova has a one year low of $142.53 and a one year high of $266.13. The stock has a 50-day moving average of $203.52 and a 200 day moving average of $204.79. The company has a market capitalization of $7.33 billion, a price-to-earnings ratio of 47.09, a PEG ratio of 2.10 and a beta of 1.42.

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.