Nova Ltd. (NASDAQ:NVMI) Receives $236.60 Consensus Price Target from Analysts

Shares of Nova Ltd. (NASDAQ:NVMI) have received an average rating of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $226.80.

NVMI has been the subject of several recent analyst reports. Benchmark raised their target price on shares of Nova from $215.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Citigroup downgraded shares of Nova from a “buy” rating to a “neutral” rating and cut their target price for the company from $273.00 to $224.00 in a research note on Monday.

Institutional Trading of Nova

Several large investors have recently made changes to their positions in NVMI. Employees Retirement System of Texas acquired a new stake in shares of Nova during the 2nd quarter worth approximately $68,000. FSC Wealth Advisors LLC acquired a new stake in shares of Nova during the 2nd quarter worth approximately $79,000. Signaturefd LLC boosted its position in shares of Nova by 15.9% during the 2nd quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock worth $180,000 after acquiring an additional 105 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Nova by 46.2% during the 1st quarter. Russell Investments Group Ltd. now owns 1,038 shares of the semiconductor company’s stock worth $184,000 after acquiring an additional 328 shares in the last quarter. Finally, OLD National Bancorp IN acquired a new stake in shares of Nova during the 2nd quarter worth approximately $205,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

Nova Trading Up 6.7 %

Shares of NASDAQ NVMI opened at $205.30 on Friday. The firm has a market cap of $5.96 billion, a PE ratio of 47.30, a PEG ratio of 2.49 and a beta of 1.46. Nova has a 1-year low of $90.59 and a 1-year high of $247.21. The company has a fifty day moving average price of $210.72 and a 200 day moving average price of $202.47.

Nova (NASDAQ:NVMI) last posted its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.43. Nova had a net margin of 27.38% and a return on equity of 20.76%. The company had revenue of $156.86 million during the quarter, compared to the consensus estimate of $148.12 million. During the same period in the prior year, the business posted $0.97 EPS. The company’s quarterly revenue was up 27.8% on a year-over-year basis. Equities research analysts forecast that Nova will post 5.63 EPS for the current year.

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.