First Trust Direct Indexing L.P. Takes $252,000 Position in Nova Ltd. (NASDAQ:NVMI)

First Trust Direct Indexing L.P. bought a new stake in Nova Ltd. (NASDAQ:NVMIFree Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,419 shares of the semiconductor company’s stock, valued at approximately $252,000.

A number of other large investors have also recently added to or reduced their stakes in NVMI. Qube Research & Technologies Ltd lifted its stake in Nova by 259.4% during the third quarter. Qube Research & Technologies Ltd now owns 17,855 shares of the semiconductor company’s stock worth $2,008,000 after purchasing an additional 12,887 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its stake in shares of Nova by 51.9% during the third quarter. Schonfeld Strategic Advisors LLC now owns 6,379 shares of the semiconductor company’s stock valued at $717,000 after purchasing an additional 2,179 shares in the last quarter. American Century Companies Inc. lifted its holdings in Nova by 19.8% in the third quarter. American Century Companies Inc. now owns 317,133 shares of the semiconductor company’s stock worth $35,658,000 after purchasing an additional 52,460 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Nova by 1.5% in the third quarter. Vanguard Group Inc. now owns 959,065 shares of the semiconductor company’s stock valued at $107,837,000 after acquiring an additional 13,988 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Nova during the 4th quarter valued at $318,000. 82.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on NVMI. Needham & Company LLC restated a “hold” rating on shares of Nova in a research report on Friday, May 10th. Evercore ISI assumed coverage on shares of Nova in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $210.00 price target on the stock. Benchmark increased their price objective 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 lifted their target price on Nova from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Finally, Jefferies Financial Group began 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $221.25.

Read Our Latest Stock Analysis on NVMI

Nova Price Performance

NASDAQ NVMI opened at $239.89 on Tuesday. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 55.27, a price-to-earnings-growth ratio of 3.47 and a beta of 1.47. The company has a 50 day simple moving average of $214.45 and a 200-day simple moving average of $178.98. Nova Ltd. has a 52-week low of $90.59 and a 52-week high of $244.97.

Nova (NASDAQ:NVMIGet Free Report) last released 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 net margin of 26.26% and a return on equity of 19.89%. The company had revenue of $141.80 million during the quarter, compared to the consensus estimate of $136.78 million. During the same quarter in the prior year, the firm earned $1.12 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. On average, analysts predict that Nova Ltd. will post 4.79 EPS for the current year.

About Nova

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Nova (NASDAQ:NVMI)

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