Nova (NASDAQ:NVMI) Earns Outperform Rating from Analysts at Evercore ISI

Evercore ISI initiated coverage on shares of Nova (NASDAQ:NVMI) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $210.00 price target on the semiconductor company’s stock.

Separately, Benchmark boosted their price target on Nova from $150.00 to $187.00 and gave the company a buy rating in a research note on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $170.67.

Nova Stock Performance

Shares of Nova stock opened at $175.99 on Tuesday. The firm has a 50-day moving average of $171.91 and a 200-day moving average of $140.14. The stock has a market cap of $5.05 billion, a PE ratio of 41.12, a PEG ratio of 6.47 and a beta of 1.41. Nova has a 52-week low of $87.85 and a 52-week high of $190.51.

Nova (NASDAQ:NVMI) last posted its quarterly earnings results on Thursday, February 15th. The semiconductor company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.14. The business had revenue of $134.22 million during the quarter, compared to the consensus estimate of $128.00 million. Nova had a return on equity of 20.55% and a net margin of 26.32%. Equities research analysts predict that Nova will post 4.87 earnings per share for the current fiscal year.

Institutional Trading of Nova

Several hedge funds and other institutional investors have recently made changes to their positions in NVMI. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Nova by 74.9% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 604,977 shares of the semiconductor company’s stock worth $83,202,000 after purchasing an additional 259,021 shares during the last quarter. Invesco Ltd. boosted its holdings in Nova by 118.1% in the third quarter. Invesco Ltd. now owns 428,132 shares of the semiconductor company’s stock valued at $48,139,000 after acquiring an additional 231,862 shares during the last quarter. Millennium Management LLC boosted its holdings in Nova by 262.1% in the fourth quarter. Millennium Management LLC now owns 230,497 shares of the semiconductor company’s stock valued at $18,827,000 after acquiring an additional 166,836 shares during the last quarter. Sphera Funds Management LTD. bought a new stake in Nova in the fourth quarter valued at approximately $18,135,000. Finally, Nuveen Asset Management LLC bought a new stake in Nova in the fourth quarter valued at approximately $17,150,000. 82.99% of the stock is currently 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.