Nova Ltd. (NASDAQ:NVMI) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Nova Ltd. (NASDAQ:NVMI) have received an average rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $227.80.

A number of equities analysts have recently weighed in on NVMI shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a research note on Friday, November 8th. Benchmark raised their price objective on shares of Nova from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Citigroup downgraded shares of Nova from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $273.00 to $224.00 in a research report on Monday, September 16th.

Hedge Funds Weigh In On Nova

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Nova by 74.6% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,281,869 shares of the semiconductor company’s stock worth $267,487,000 after buying an additional 547,833 shares during the period. Franklin Resources Inc. boosted its holdings in Nova by 115.1% during the third quarter. Franklin Resources Inc. now owns 661,282 shares of the semiconductor company’s stock valued at $146,515,000 after acquiring an additional 353,906 shares during the period. Y.D. More Investments Ltd grew its position in shares of Nova by 2,733.2% in the second quarter. Y.D. More Investments Ltd now owns 288,986 shares of the semiconductor company’s stock valued at $67,510,000 after purchasing an additional 278,786 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Nova by 45.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 645,203 shares of the semiconductor company’s stock valued at $151,319,000 after purchasing an additional 200,816 shares during the last quarter. Finally, Meitav Investment House Ltd. increased its stake in shares of Nova by 28.1% in the second quarter. Meitav Investment House Ltd. now owns 556,839 shares of the semiconductor company’s stock worth $130,258,000 after purchasing an additional 122,218 shares during the period. Institutional investors and hedge funds own 82.99% of the company’s stock.

Nova Stock Down 1.2 %

Shares of Nova stock opened at $172.39 on Friday. Nova has a 12 month low of $123.44 and a 12 month high of $247.21. The stock has a market cap of $5.01 billion, a PE ratio of 32.16, a price-to-earnings-growth ratio of 1.66 and a beta of 1.47. The business has a fifty day simple moving average of $192.84 and a 200-day simple moving average of $208.31.

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.