Nova Ltd. (NASDAQ:NVMI) Receives $131.29 Consensus Target Price from Brokerages

Nova Ltd. (NASDAQ:NVMI – Get Rating) has received a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $131.29.

Several analysts recently issued reports on NVMI shares. Bank of America lifted their target price on Nova from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, January 10th. StockNews.com began coverage on Nova in a report on Thursday, March 31st. They set a “hold” rating on the stock. Citigroup cut their target price on shares of Nova from $146.00 to $142.00 and set a “buy” rating for the company in a report on Friday, February 25th. Zacks Investment Research downgraded shares of Nova from a “hold” rating to a “sell” rating in a research note on Friday, March 4th. Finally, Needham & Company LLC lowered their price objective on shares of Nova from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, February 25th.

NVMI traded down $2.69 on Friday, hitting $97.18. 88,750 shares of the company’s stock traded hands, compared to its average volume of 139,580. The company’s 50 day simple moving average is $109.19 and its 200-day simple moving average is $117.83. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 31.15, a P/E/G ratio of 0.81 and a beta of 1.19. Nova has a one year low of $83.46 and a one year high of $149.15.

Nova (NASDAQ:NVMI – Get Rating) last issued its earnings results on Thursday, February 24th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.99. The company had revenue of $121.52 million for the quarter, compared to the consensus estimate of $118.28 million. Nova had a return on equity of 24.52% and a net margin of 22.37%. The firm’s quarterly revenue was up 59.3% on a year-over-year basis. During the same quarter last year, the company earned $0.47 EPS. Equities analysts predict that Nova will post 3.74 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. Meritage Portfolio Management lifted its holdings in shares of Nova by 5.1% in the 4th quarter. Meritage Portfolio Management now owns 2,702 shares of the semiconductor company’s stock worth $396,000 after acquiring an additional 132 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Nova by 26.7% in the 2nd quarter. Royal Bank of Canada now owns 1,187 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 250 shares during the last quarter. Optimum Investment Advisors lifted its holdings in shares of Nova by 9.1% in the 1st quarter. Optimum Investment Advisors now owns 6,000 shares of the semiconductor company’s stock worth $653,000 after acquiring an additional 500 shares during the last quarter. Navellier & Associates Inc. lifted its holdings in shares of Nova by 6.2% in the 4th quarter. Navellier & Associates Inc. now owns 12,674 shares of the semiconductor company’s stock worth $1,857,000 after acquiring an additional 735 shares during the last quarter. Finally, Morse Asset Management Inc lifted its holdings in shares of Nova by 7.9% in the 3rd quarter. Morse Asset Management Inc now owns 13,335 shares of the semiconductor company’s stock worth $1,364,000 after acquiring an additional 975 shares during the last quarter. Institutional investors and hedge funds own 73.22% of the company’s stock.

About Nova (Get Rating)

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.

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