Wellington Management Group LLP Takes Position in Nova Ltd. (NASDAQ:NVMI)

Wellington Management Group LLP purchased a new stake in Nova Ltd. (NASDAQ:NVMI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,200 shares of the semiconductor company’s stock, valued at approximately $237,000.

Several other hedge funds and other institutional investors also recently modified their holdings of NVMI. Steward Partners Investment Advisory LLC increased its stake in shares of Nova by 24.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 401 shares of the semiconductor company’s stock valued at $79,000 after purchasing an additional 78 shares during the last quarter. Quarry LP grew its position in Nova by 187.1% during the 4th quarter. Quarry LP now owns 402 shares of the semiconductor company’s stock worth $79,000 after acquiring an additional 262 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Nova during the 4th quarter worth $112,000. Quadrant Capital Group LLC grew its position in Nova by 5.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,030 shares of the semiconductor company’s stock worth $203,000 after acquiring an additional 51 shares during the last quarter. Finally, Advisory Services Network LLC grew its position in Nova by 5.0% during the 4th quarter. Advisory Services Network LLC now owns 1,149 shares of the semiconductor company’s stock worth $226,000 after acquiring an additional 55 shares during the last quarter. Institutional investors own 82.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NVMI. Citigroup reduced their price objective on Nova from $290.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Benchmark reduced their price objective on Nova from $295.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Cantor Fitzgerald reduced their price objective on Nova from $315.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. Needham & Company LLC restated a “hold” rating on shares of Nova in a research report on Friday, February 14th. Finally, Bank of America reduced their price objective on Nova from $310.00 to $248.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Nova presently has an average rating of “Moderate Buy” and an average target price of $277.00.

Nova Trading Up 0.2%

Shares of NVMI opened at $217.00 on Monday. The company has a market capitalization of $6.38 billion, a PE ratio of 37.80, a PEG ratio of 2.55 and a beta of 1.61. Nova Ltd. has a 12 month low of $154.00 and a 12 month high of $289.90. The stock’s 50-day moving average price is $190.81 and its two-hundred day moving average price is $208.57.

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

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.