Nova Ltd. (NASDAQ:NVMI) Given Consensus Rating of “Moderate Buy” by Brokerages

Nova Ltd. (NASDAQ:NVMIGet Free Report) has been assigned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $221.25.

A number of equities research analysts recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Nova in a research report on Friday, May 10th. Benchmark increased their price target on Nova from $187.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Bank of America increased their price target on Nova from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Evercore ISI assumed coverage on Nova in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $210.00 price target for the company. Finally, Jefferies Financial Group assumed coverage on Nova in a research report on Monday, May 13th. They issued a “buy” rating and a $240.00 price target for the company.

View Our Latest Analysis on NVMI

Institutional Investors Weigh In On Nova

Several large investors have recently made changes to their positions in NVMI. Asset Dedication LLC purchased a new stake in Nova in the 3rd quarter worth about $34,000. Russell Investments Group Ltd. increased its holdings in Nova by 46.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,038 shares of the semiconductor company’s stock worth $184,000 after acquiring an additional 328 shares during the last quarter. Burney Co. purchased a new stake in Nova in the 1st quarter worth about $211,000. First Trust Direct Indexing L.P. purchased a new stake in Nova in the 1st quarter worth about $252,000. Finally, Cerity Partners LLC purchased a new stake in Nova in the 4th quarter worth about $201,000. 82.99% of the stock is owned by hedge funds and other institutional investors.

Nova Stock Up 0.6 %

Shares of NVMI opened at $219.80 on Friday. Nova has a 12-month low of $90.59 and a 12-month high of $223.44. The business’s fifty day moving average is $187.65 and its 200 day moving average is $162.12. The stock has a market cap of $6.39 billion, a P/E ratio of 50.65, a P/E/G ratio of 3.02 and a beta of 1.42.

Nova (NASDAQ:NVMIGet Free Report) last issued its earnings results on Thursday, May 9th. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.29. Nova had a return on equity of 19.89% and a net margin of 26.26%. The company had revenue of $141.80 million for the quarter, compared to analysts’ expectations of $136.78 million. During the same period last year, the business earned $1.12 EPS. Nova’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, analysts expect that Nova will post 4.79 EPS for the current year.

About Nova

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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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