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

Shares of Nova Ltd. (NASDAQ:NVMIGet Rating) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $131.60.

A number of equities research analysts recently commented on the stock. Bank of America lowered their price objective on shares of Nova from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, June 29th. StockNews.com started coverage on shares of Nova in a research note on Thursday, March 31st. They set a “hold” rating on the stock.

Institutional Investors Weigh In On Nova

A number of hedge funds and other institutional investors have recently modified their holdings of NVMI. Redwood Investments LLC purchased a new position in Nova during the 2nd quarter valued at about $482,000. Paradiem LLC grew its stake in Nova by 31.3% during the 2nd quarter. Paradiem LLC now owns 5,533 shares of the semiconductor company’s stock valued at $490,000 after acquiring an additional 1,319 shares in the last quarter. ARK Investment Management LLC grew its stake in Nova by 0.9% during the 2nd quarter. ARK Investment Management LLC now owns 21,761 shares of the semiconductor company’s stock valued at $2,311,000 after acquiring an additional 193 shares in the last quarter. Walleye Capital LLC grew its stake in Nova by 554.4% during the 1st quarter. Walleye Capital LLC now owns 17,570 shares of the semiconductor company’s stock valued at $1,913,000 after acquiring an additional 14,885 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in Nova by 6.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 39,573 shares of the semiconductor company’s stock valued at $4,309,000 after acquiring an additional 2,552 shares in the last quarter. 78.65% of the stock is currently owned by institutional investors.

Nova Trading Down 1.3 %

Shares of Nova stock opened at $93.31 on Tuesday. The company has a fifty day simple moving average of $96.49 and a 200-day simple moving average of $106.63. Nova has a 12-month low of $81.63 and a 12-month high of $149.15. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 2.74 and a beta of 1.24.

Nova (NASDAQ:NVMIGet Rating) last announced its quarterly earnings results on Thursday, May 12th. The semiconductor company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.25. The business had revenue of $134.00 million during the quarter, compared to the consensus estimate of $126.76 million. Nova had a net margin of 23.53% and a return on equity of 27.51%. The business’s revenue was up 59.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 EPS. On average, analysts forecast that Nova will post 4.28 earnings per share for the current fiscal year.

Nova Company Profile

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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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Analyst Recommendations for Nova (NASDAQ:NVMI)

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