Mackenzie Financial Corp Buys 1,147 Shares of Nova Ltd. (NASDAQ:NVMI)

Mackenzie Financial Corp grew its stake in Nova Ltd. (NASDAQ:NVMI) by 11.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,446 shares of the semiconductor company’s stock after acquiring an additional 1,147 shares during the period. Mackenzie Financial Corp’s holdings in Nova were worth $1,589,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Asset Dedication LLC bought a new position in Nova in the 3rd quarter worth about $34,000. Signaturefd LLC grew its stake in Nova by 20.6% in the 3rd quarter. Signaturefd LLC now owns 672 shares of the semiconductor company’s stock worth $76,000 after acquiring an additional 115 shares in the last quarter. Cerity Partners LLC bought a new position in Nova in the 4th quarter worth about $201,000. Pinnacle Financial Partners Inc bought a new position in Nova in the 4th quarter worth about $218,000. Finally, TD Asset Management Inc bought a new position in Nova in the 3rd quarter worth about $218,000. 82.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NVMI. Benchmark upped their target price on shares of Nova from $150.00 to $187.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Evercore ISI began coverage on shares of Nova in a research note on Tuesday, April 16th. They set an “outperform” rating and a $210.00 price objective on the stock.

Nova Stock Performance

NASDAQ NVMI opened at $168.18 on Wednesday. The firm’s 50 day moving average price is $173.15 and its 200-day moving average price is $142.16. Nova Ltd. has a 52-week low of $87.85 and a 52-week high of $190.51. The company has a market cap of $4.82 billion, a PE ratio of 39.29, a P/E/G ratio of 6.06 and a beta of 1.41.

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

Nova 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.