Nova Ltd. (NASDAQ:NVMI) Shares Bought by abrdn plc

abrdn plc raised its holdings in Nova Ltd. (NASDAQ:NVMI) by 16.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 294,332 shares of the semiconductor company’s stock after buying an additional 41,020 shares during the period. abrdn plc owned about 1.03% of Nova worth $40,438,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. raised its stake in Nova by 3.3% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,070,485 shares of the semiconductor company’s stock valued at $147,074,000 after buying an additional 33,800 shares in the last quarter. Mackenzie Financial Corp raised its stake in Nova by 11.1% in the fourth quarter. Mackenzie Financial Corp now owns 11,446 shares of the semiconductor company’s stock valued at $1,589,000 after buying an additional 1,147 shares in the last quarter. Cerity Partners LLC acquired a new stake in Nova in the fourth quarter valued at $201,000. Pinnacle Financial Partners Inc purchased a new position in shares of Nova during the fourth quarter worth about $218,000. Finally, Perfromance Wealth Partners LLC purchased a new position in shares of Nova during the fourth quarter worth about $343,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NVMI has been the topic of several research reports. Evercore ISI initiated coverage on Nova in a report on Tuesday, April 16th. They set an “outperform” rating and a $210.00 price objective on the stock. Benchmark raised their price target on Nova from $150.00 to $187.00 and gave the stock a “buy” rating in a report on Friday, February 16th.

Nova Stock Down 5.9 %

NASDAQ NVMI opened at $159.92 on Monday. Nova Ltd. has a 52-week low of $87.85 and a 52-week high of $190.51. The business’s 50-day moving average price is $172.74 and its 200 day moving average price is $141.38. The firm has a market cap of $4.59 billion, a P/E ratio of 37.36, a P/E/G ratio of 6.06 and a beta of 1.41.

Nova (NASDAQ:NVMI) last announced its quarterly earnings data on Thursday, February 15th. The semiconductor company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.14. Nova had a return on equity of 20.55% and a net margin of 26.32%. The company had revenue of $134.22 million for the quarter, compared to analyst estimates of $128.00 million. As a group, analysts anticipate that Nova Ltd. will post 4.87 earnings per share for the current year.

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.