Wealth Enhancement Advisory Services LLC Purchases 269 Shares of Nova Ltd. (NASDAQ:NVMI)

Wealth Enhancement Advisory Services LLC raised its position in Nova Ltd. (NASDAQ:NVMI) by 26.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,299 shares of the semiconductor company’s stock after buying an additional 269 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Nova were worth $256,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NVMI. Wasatch Advisors LP boosted its stake in shares of Nova by 49.3% in the 4th quarter. Wasatch Advisors LP now owns 2,411,677 shares of the semiconductor company’s stock valued at $474,980,000 after purchasing an additional 796,629 shares in the last quarter. Polar Capital Holdings Plc boosted its position in Nova by 504.5% during the 4th quarter. Polar Capital Holdings Plc now owns 354,302 shares of the semiconductor company’s stock worth $69,780,000 after buying an additional 295,691 shares during the period. Capital World Investors boosted its position in Nova by 33.3% during the 4th quarter. Capital World Investors now owns 600,868 shares of the semiconductor company’s stock worth $118,341,000 after buying an additional 150,000 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its holdings in Nova by 7.9% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,383,339 shares of the semiconductor company’s stock worth $272,517,000 after purchasing an additional 101,470 shares during the last quarter. Finally, Meitav Investment House Ltd. raised its holdings in Nova by 10.1% during the 4th quarter. Meitav Investment House Ltd. now owns 713,003 shares of the semiconductor company’s stock worth $140,455,000 after purchasing an additional 65,281 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NVMI has been the subject of several research analyst reports. Wall Street Zen lowered shares of Nova from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Citigroup lowered their price objective on shares of Nova from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Bank of America lowered their price objective on shares of Nova from $310.00 to $248.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Cantor Fitzgerald decreased their price target on shares of Nova from $315.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday, March 14th. Finally, Benchmark cut their price target on shares of Nova from $295.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Nova currently has a consensus rating of “Moderate Buy” and an average target price of $277.00.

Nova Trading Down 2.8%

Shares of Nova stock opened at $222.19 on Monday. The company’s 50-day moving average price is $196.16 and its 200-day moving average price is $210.30. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 38.71, 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.

Nova (NASDAQ:NVMI) last issued its earnings results on Thursday, May 8th. The semiconductor company reported $2.18 earnings per share (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 analysts’ expectations of $210.10 million. Nova had a net margin of 27.33% and a return on equity of 22.33%. The business’s revenue was up 50.5% on a year-over-year basis. During the same quarter last year, the business earned $1.39 earnings per share. On average, sell-side analysts predict that Nova Ltd. will post 7.52 earnings per share for the current 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.