Nova (NASDAQ:NVMI) Shares Up 5.2%

Shares of Nova Ltd. (NASDAQ:NVMI) shot up 5.2% during trading on Monday . The company traded as high as $214.42 and last traded at $214.16. 18,039 shares were traded during trading, a decline of 90% from the average session volume of 171,876 shares. The stock had previously closed at $203.58.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Nova in a research report on Friday, May 10th. Citigroup upped their price objective on Nova from $223.00 to $273.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Benchmark upped their target price on Nova from $187.00 to $215.00 and gave the company a “buy” rating in a report on Friday, May 10th. Bank of America increased their price target on Nova from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Finally, Evercore ISI began coverage on Nova in a research report on Tuesday, April 16th. They set an “outperform” rating and a $210.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $231.60.

Nova Stock Up 6.9 %

The company has a market capitalization of $6.32 billion, a P/E ratio of 49.61, a price-to-earnings-growth ratio of 2.96 and a beta of 1.47. The company has a 50-day moving average of $223.12 and a two-hundred day moving average of $184.86.

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

Hedge Funds Weigh In On Nova

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVMI. FSC Wealth Advisors LLC purchased a new stake in shares of Nova in the second quarter worth approximately $79,000. Russell Investments Group Ltd. grew its stake in 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 buying an additional 328 shares during the last quarter. Cerity Partners LLC purchased a new stake in Nova during the 4th quarter valued at about $201,000. OLD National Bancorp IN acquired a new position in shares of Nova in the 2nd quarter valued at about $205,000. Finally, D.A. Davidson & CO. acquired a new position in shares of Nova in the 4th quarter valued at about $210,000. 82.99% of the stock is owned by institutional investors.

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.