Nova Ltd. (NASDAQ:NVMI) Receives $236.60 Average PT from Analysts

Shares of Nova Ltd. (NASDAQ:NVMI) have received a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $226.80.

Several brokerages have recently commented on NVMI. Citigroup cut shares of Nova from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $273.00 to $224.00 in a research report on Monday, September 16th. Benchmark increased their target price on Nova from $215.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, August 9th.

Hedge Funds Weigh In On Nova

Several institutional investors have recently made changes to their positions in NVMI. BNP Paribas Financial Markets boosted its position in Nova by 231.2% during the 1st quarter. BNP Paribas Financial Markets now owns 31,083 shares of the semiconductor company’s stock valued at $5,514,000 after purchasing an additional 21,699 shares during the period. Vanguard Group Inc. grew its position in shares of Nova by 1.5% during the first quarter. Vanguard Group Inc. now owns 987,071 shares of the semiconductor company’s stock worth $175,087,000 after acquiring an additional 14,115 shares during the last quarter. Tidal Investments LLC acquired a new stake in shares of Nova in the 1st quarter worth about $2,589,000. Sei Investments Co. lifted its position in Nova by 12.7% in the 1st quarter. Sei Investments Co. now owns 128,423 shares of the semiconductor company’s stock valued at $22,780,000 after purchasing an additional 14,508 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in Nova during the 1st quarter valued at about $38,661,000. 82.99% of the stock is owned by institutional investors.

Nova Stock Performance

NASDAQ NVMI opened at $200.39 on Friday. Nova has a one year low of $90.59 and a one year high of $247.21. The company’s 50 day moving average price is $210.01 and its 200 day moving average price is $202.69. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 46.17, a PEG ratio of 2.49 and a beta of 1.46.

Nova (NASDAQ:NVMI) last issued its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.61 earnings per share (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 business had revenue of $156.86 million during the quarter, compared to analyst estimates of $148.12 million. During the same quarter in the previous year, the firm earned $0.97 earnings per share. The business’s revenue was up 27.8% compared to the same quarter last year. Sell-side analysts forecast that Nova will post 5.63 EPS for the current fiscal year.

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.