Bank of New York Mellon Corp Has $7.36 Million Position in Nova Ltd. (NASDAQ:NVMI)

Bank of New York Mellon Corp raised its position in Nova Ltd. (NASDAQ:NVMI) by 122.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,901 shares of the semiconductor company’s stock after acquiring an additional 21,941 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.14% of Nova worth $7,355,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its position in shares of Nova by 0.8% during the 4th quarter. Alliancebernstein L.P. now owns 5,688 shares of the semiconductor company’s stock valued at $1,120,000 after purchasing an additional 44 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Nova by 3.6% during the 4th quarter. NewEdge Advisors LLC now owns 1,339 shares of the semiconductor company’s stock valued at $264,000 after purchasing an additional 47 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Nova by 5.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,030 shares of the semiconductor company’s stock valued at $203,000 after purchasing an additional 51 shares during the last quarter. Advisory Services Network LLC increased its position in shares of Nova by 5.0% during the 4th quarter. Advisory Services Network LLC now owns 1,149 shares of the semiconductor company’s stock valued at $226,000 after purchasing an additional 55 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. increased its position in shares of Nova by 1.3% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 4,742 shares of the semiconductor company’s stock valued at $935,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Nova Stock Down 3.6%

NVMI opened at $274.61 on Wednesday. The stock has a market cap of $8.07 billion, a PE ratio of 41.48, a PEG ratio of 2.50 and a beta of 1.66. The business has a 50 day moving average of $237.18 and a 200-day moving average of $223.47. Nova Ltd. has a 52 week low of $154.00 and a 52 week high of $291.99.

Nova (NASDAQ:NVMI) last released its earnings results on Thursday, May 8th. The semiconductor company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.10. The company had revenue of $213.36 million during the quarter, compared to analysts’ expectations of $210.10 million. Nova had a return on equity of 23.98% and a net margin of 28.46%. 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. Equities analysts anticipate that Nova Ltd. will post 7.52 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on NVMI. Benchmark reduced their price target 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 restated an “overweight” rating and set a $300.00 price target (up from $250.00) on shares of Nova in a research report on Tuesday, June 24th. Wall Street Zen lowered Nova from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Citigroup reduced their price target on Nova from $290.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Finally, Bank of America raised their price target on Nova from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, June 24th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $282.50.

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.