Brokerages Set Nova Ltd. (NASDAQ:NVMI) PT at $322.86

Nova Ltd. (NASDAQ:NVMI) has been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $348.5714.

Several research firms have recently issued reports on NVMI. Benchmark raised their price objective on Nova from $280.00 to $345.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Jefferies Financial Group boosted their price objective on shares of Nova from $360.00 to $390.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Morgan Stanley assumed coverage on Nova in a research report on Monday, December 1st. They set an “equal weight” rating and a $335.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Nova in a research note on Monday, December 22nd. Finally, Bank of America lifted their target price on Nova from $380.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday.

Nova Stock Performance

Shares of NVMI stock opened at $404.65 on Friday. Nova has a 12 month low of $153.99 and a 12 month high of $408.59. The company has a current ratio of 4.58, a quick ratio of 4.00 and a debt-to-equity ratio of 0.62. The company’s fifty day moving average price is $326.67 and its 200-day moving average price is $303.67. The stock has a market cap of $11.90 billion, a PE ratio of 52.90, a price-to-earnings-growth ratio of 2.43 and a beta of 1.84.

Hedge Funds Weigh In On Nova

A number of hedge funds have recently bought and sold shares of NVMI. Measured Wealth Private Client Group LLC acquired a new position in Nova during the third quarter worth $40,000. CIBC Private Wealth Group LLC raised its holdings in shares of Nova by 75.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 130 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 56 shares during the period. SBI Securities Co. Ltd. raised its holdings in shares of Nova by 51.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 164 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 56 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in Nova by 2,042.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 143 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Nova by 182.7% during the 2nd quarter. Parallel Advisors LLC now owns 212 shares of the semiconductor company’s stock valued at $58,000 after acquiring an additional 137 shares during the period. Hedge funds and other institutional investors own 82.99% of the company’s stock.

About Nova

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.