McLean Asset Management Corp Invests $262,000 in Nova Ltd. (NASDAQ:NVMI)

McLean Asset Management Corp bought a new position in shares of Nova Ltd. (NASDAQ:NVMI) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,500 shares of the semiconductor company’s stock, valued at approximately $262,000.

Other institutional investors have also modified their holdings of the company. Asset Dedication LLC purchased a new position in Nova during the third quarter valued at approximately $34,000. Cerity Partners LLC purchased a new position in Nova during the fourth quarter valued at approximately $201,000. D.A. Davidson & CO. purchased a new position in Nova during the fourth quarter valued at approximately $210,000. Pinnacle Financial Partners Inc purchased a new position in Nova during the fourth quarter valued at approximately $218,000. Finally, Olympiad Research LP purchased a new position in Nova during the fourth quarter valued at approximately $282,000. 82.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NVMI. Benchmark lifted their price objective on shares of Nova from $187.00 to $215.00 and gave the company a “buy” rating in a report on Friday, May 10th. Jefferies Financial Group started coverage on shares of Nova in a research note on Monday, May 13th. They issued a “buy” rating and a $240.00 target price for the company. Evercore ISI started coverage on shares of Nova in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $210.00 target price for the company. Needham & Company LLC restated a “hold” rating on shares of Nova in a research note on Friday, May 10th. Finally, Bank of America raised their target price on shares of Nova from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, May 10th. 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.25.

Nova Trading Down 1.7 %

Shares of NASDAQ:NVMI traded down $3.87 on Friday, hitting $228.90. 175,953 shares of the company were exchanged, compared to its average volume of 170,400. Nova Ltd. has a 1-year low of $90.59 and a 1-year high of $242.93. The stock’s 50 day moving average price is $198.90 and its 200 day moving average price is $169.63. The firm has a market capitalization of $6.65 billion, a P/E ratio of 52.74, a price-to-earnings-growth ratio of 3.51 and a beta of 1.42.

Nova (NASDAQ:NVMI) last posted its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.10 by $0.29. Nova had a net margin of 26.26% and a return on equity of 19.89%. The business had revenue of $141.80 million during the quarter, compared to the consensus estimate of $136.78 million. During the same period in the previous year, the firm posted $1.12 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities analysts predict that Nova Ltd. will post 4.79 EPS for the current fiscal 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.