Congress Asset Management Co. Boosts Position in Nova Ltd. $NVMI

Congress Asset Management Co. increased its position in shares of Nova Ltd. (NASDAQ:NVMI) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 286,076 shares of the semiconductor company’s stock after acquiring an additional 7,438 shares during the quarter. Congress Asset Management Co. owned approximately 0.97% of Nova worth $91,447,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. acquired a new position in Nova in the 1st quarter valued at about $878,000. HighTower Advisors LLC lifted its holdings in Nova by 7.8% in the first quarter. HighTower Advisors LLC now owns 11,580 shares of the semiconductor company’s stock valued at $2,135,000 after acquiring an additional 840 shares during the last quarter. American Century Companies Inc. lifted its holdings in Nova by 15.1% in the first quarter. American Century Companies Inc. now owns 134,700 shares of the semiconductor company’s stock valued at $24,829,000 after acquiring an additional 17,702 shares during the last quarter. Korea Investment CORP purchased a new position in Nova in the first quarter worth approximately $1,676,000. Finally, Wellington Management Group LLP increased its stake in Nova by 1,860.3% during the first quarter. Wellington Management Group LLP now owns 23,523 shares of the semiconductor company’s stock worth $4,331,000 after acquiring an additional 22,323 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Nova Trading Up 3.2%

Shares of NVMI stock opened at $322.83 on Friday. Nova Ltd. has a fifty-two week low of $153.99 and a fifty-two week high of $361.32. The company has a 50 day moving average price of $319.53 and a 200 day moving average price of $288.54. The stock has a market capitalization of $9.49 billion, a P/E ratio of 42.20, a price-to-earnings-growth ratio of 2.16 and a beta of 1.84. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.00 and a current ratio of 4.58.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NVMI shares. Jefferies Financial Group upped their price target on Nova from $360.00 to $390.00 and gave the company a “buy” rating in a research note on Monday, December 15th. Evercore ISI upped their target price on shares of Nova from $290.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Benchmark lifted their price target on shares of Nova from $280.00 to $345.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Nova in a research note on Monday, December 15th. Finally, Morgan Stanley started coverage on shares of Nova in a research report on Monday, December 1st. They set an “equal weight” rating and a $335.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $322.86.

Nova Company Profile

Nova Measuring Instruments Ltd (NASDAQ: NVMI) develops and supplies advanced metrology and process control systems for the semiconductor manufacturing industry. The company’s core product line includes spectroscopic ellipsometry and scatterometry tools designed to measure film thickness, critical dimensions, overlay alignment and other key parameters that drive yield and performance in integrated circuit fabrication.

Founded in 1993 and headquartered in Rehovot, Israel, Nova Measuring Instruments has established itself as a critical partner to leading semiconductor foundries and device manufacturers.