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

Shares of Nova Ltd. (NASDAQ:NVMI) have received a consensus rating of “Moderate Buy” from the five analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $277.00.

NVMI has been the subject of several research analyst reports. Benchmark cut their price target on Nova from $295.00 to $280.00 and set a “buy” rating for the company in a report on Friday, May 9th. Citigroup cut their price target on Nova from $290.00 to $280.00 and set a “buy” rating for the company in a report on Friday, May 9th. Bank of America cut their price target on Nova from $310.00 to $248.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Cantor Fitzgerald cut their price target on Nova from $315.00 to $300.00 and set an “overweight” rating for the company in a report on Friday, March 14th. Finally, Wall Street Zen upgraded Nova from a “hold” rating to a “buy” rating in a report on Thursday.

Hedge Funds Weigh In On Nova

Large investors have recently modified their holdings of the stock. ASR Vermogensbeheer N.V. bought a new position in shares of Nova during the 1st quarter valued at approximately $26,000. Advisors Asset Management Inc. increased its position in shares of Nova by 51.6% during the 1st quarter. Advisors Asset Management Inc. now owns 376 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 128 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Nova by 24.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 401 shares of the semiconductor company’s stock valued at $79,000 after acquiring an additional 78 shares during the period. Quarry LP boosted its holdings in Nova by 187.1% during the 4th quarter. Quarry LP now owns 402 shares of the semiconductor company’s stock valued at $79,000 after acquiring an additional 262 shares during the period. Finally, Flaharty Asset Management LLC purchased a new position in Nova during the 1st quarter valued at $92,000. Institutional investors own 82.99% of the company’s stock.

Nova Trading Up 0.3%

NASDAQ:NVMI opened at $184.71 on Friday. Nova has a 12-month low of $154.00 and a 12-month high of $289.90. The stock has a 50-day moving average price of $188.28 and a 200 day moving average price of $207.09. The stock has a market capitalization of $5.43 billion, a P/E ratio of 32.18, a P/E/G ratio of 2.55 and a beta of 1.66.

Nova (NASDAQ:NVMI) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.10. The business had revenue of $213.36 million during the quarter, compared to analysts’ expectations of $210.10 million. Nova had a return on equity of 22.33% and a net margin of 27.33%. The firm’s revenue for the quarter was up 50.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.39 EPS. On average, research analysts predict that Nova will post 7.52 earnings per share for the current fiscal year.

Nova Company 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.