Nova Ltd. (NASDAQ:NVMI) Given Average Recommendation of “Moderate Buy” by Brokerages

Nova Ltd. (NASDAQ:NVMI) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $227.80.

Several equities research analysts recently issued reports on the stock. 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, September 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a research report on Friday, November 8th. Finally, Benchmark boosted their target price on Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 8th.

Nova Trading Down 1.4 %

NASDAQ NVMI opened at $197.18 on Tuesday. The firm has a market capitalization of $5.73 billion, a P/E ratio of 36.79, a price-to-earnings-growth ratio of 1.78 and a beta of 1.44. The firm’s fifty day moving average price is $189.31 and its two-hundred day moving average price is $205.44. Nova has a 1 year low of $128.74 and a 1 year high of $247.21.

Institutional Investors Weigh In On Nova

A number of institutional investors have recently modified their holdings of NVMI. Quantbot Technologies LP increased its position in Nova by 131.0% during the third quarter. Quantbot Technologies LP now owns 13,540 shares of the semiconductor company’s stock worth $2,821,000 after acquiring an additional 7,678 shares during the period. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Nova by 74.6% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,281,869 shares of the semiconductor company’s stock worth $267,487,000 after purchasing an additional 547,833 shares during the period. Two Sigma Advisers LP raised its position in shares of Nova by 121.9% in the third 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 acquired a new stake in shares of Nova in the third quarter valued at approximately $15,669,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Nova in the third quarter valued at approximately $967,000. Institutional investors own 82.99% of the company’s stock.

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.