34,784 Shares in Nova Ltd. $NVMI Purchased by 1832 Asset Management L.P.

1832 Asset Management L.P. acquired a new stake in shares of Nova Ltd. (NASDAQ:NVMI) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 34,784 shares of the semiconductor company’s stock, valued at approximately $9,573,000. 1832 Asset Management L.P. owned approximately 0.12% of Nova at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Nova by 13.1% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,437,657 shares of the semiconductor company’s stock worth $395,643,000 after acquiring an additional 166,672 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its stake in Nova by 10.7% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,342,169 shares of the semiconductor company’s stock worth $369,365,000 after purchasing an additional 129,684 shares in the last quarter. Nuveen LLC purchased a new position in Nova during the 1st quarter worth $22,647,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in Nova by 7.8% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,490,554 shares of the semiconductor company’s stock worth $274,254,000 after purchasing an additional 107,215 shares during the period. Finally, Meitav Investment House Ltd. raised its position in Nova by 13.4% during the 2nd quarter. Meitav Investment House Ltd. now owns 769,584 shares of the semiconductor company’s stock valued at $214,680,000 after purchasing an additional 90,830 shares in the last quarter. 82.99% of the stock is currently owned by institutional investors.

Nova Price Performance

NASDAQ NVMI opened at $320.54 on Friday. The firm’s fifty day simple moving average is $318.63 and its two-hundred day simple moving average is $278.24. The firm has a market capitalization of $9.42 billion, a P/E ratio of 41.90, a P/E/G ratio of 2.15 and a beta of 1.84. The company has a current ratio of 4.58, a quick ratio of 4.00 and a debt-to-equity ratio of 0.62. Nova Ltd. has a 12-month low of $153.99 and a 12-month high of $361.32.

Wall Street Analyst Weigh In

NVMI has been the topic of a number of recent research reports. Benchmark increased their price target on Nova from $280.00 to $345.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Evercore ISI lifted their price objective on Nova from $290.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nova in a report on Monday. Finally, Morgan Stanley initiated coverage on shares of Nova in a research report on Monday. They set an “equal weight” rating and a $335.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Nova has an average rating of “Moderate Buy” and an average target price of $311.67.

Nova 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.