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

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

Several equities analysts have recently issued reports on NVMI shares. Bank of America reduced their target price on Nova from $310.00 to $248.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Cantor Fitzgerald reduced their target price on Nova from $315.00 to $300.00 and set an “overweight” rating on the stock in a research note on Friday, March 14th. Citigroup reduced their target price on Nova from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Wall Street Zen cut Nova from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Finally, Benchmark reduced their target price on Nova from $295.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, May 9th.

Institutional Investors Weigh In On Nova

Several hedge funds have recently made changes to their positions in NVMI. ASR Vermogensbeheer N.V. bought a new stake in shares of Nova during the first quarter valued at approximately $26,000. Advisors Asset Management Inc. boosted its position in shares of Nova by 51.6% during the first 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 in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Nova by 24.1% during the fourth 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 in the last quarter. Quarry LP boosted its position in shares of Nova by 187.1% during the fourth quarter. Quarry LP now owns 402 shares of the semiconductor company’s stock valued at $79,000 after purchasing an additional 262 shares in the last quarter. Finally, Flaharty Asset Management LLC bought a new stake in Nova in the first quarter worth $92,000. 82.99% of the stock is currently owned by institutional investors.

Nova Price Performance

Shares of Nova stock opened at $230.44 on Tuesday. The business’s 50 day simple moving average is $196.16 and its two-hundred day simple moving average is $210.56. The stock has a market capitalization of $6.77 billion, a P/E ratio of 40.15, a price-to-earnings-growth ratio of 2.55 and a beta of 1.61. Nova has a one year low of $154.00 and a one year high of $289.90.

Nova (NASDAQ:NVMI) last announced its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.10. The business had revenue of $213.36 million for 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 business’s quarterly revenue was up 50.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.39 EPS. Sell-side analysts expect that Nova will post 7.52 earnings per share 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.