Brokerages Set Nova Ltd. (NASDAQ:NVMI) Price Target at $442.25

Nova Ltd. (NASDAQ:NVMI) has earned a consensus rating of “Buy” from the ten analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $442.25.

NVMI has been the subject of a number of research analyst reports. Barclays assumed coverage on shares of Nova in a research report on Wednesday, March 11th. They set an “overweight” rating and a $465.00 price objective for the company. Jefferies Financial Group restated a “buy” rating and set a $520.00 price target on shares of Nova in a research note on Thursday, February 12th. Morgan Stanley restated an “outperform” rating and set a $453.00 price target on shares of Nova in a research report on Friday, February 13th. Bank of America lifted their price objective on Nova from $380.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nova in a report on Monday, December 22nd.

Nova Price Performance

Shares of NVMI opened at $440.72 on Friday. The firm has a market cap of $14.01 billion, a P/E ratio of 55.02, a price-to-earnings-growth ratio of 3.22 and a beta of 1.83. Nova has a 12-month low of $153.99 and a 12-month high of $507.27. The company’s 50-day moving average price is $450.70 and its 200 day moving average price is $371.37. The company has a current ratio of 6.28, a quick ratio of 5.47 and a debt-to-equity ratio of 0.56.

Nova (NASDAQ:NVMI) last announced its earnings results on Friday, February 13th. The semiconductor company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.01. The company had revenue of $222.62 million during the quarter, compared to analyst estimates of $220.43 million. Nova had a net margin of 29.44% and a return on equity of 22.90%. Nova’s revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.94 earnings per share. On average, sell-side analysts forecast that Nova will post 7.52 earnings per share for the current year.

Institutional Trading of Nova

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP boosted its stake in shares of Nova by 4.9% in the second quarter. Wasatch Advisors LP now owns 2,200,948 shares of the semiconductor company’s stock valued at $605,701,000 after purchasing an additional 102,250 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake in Nova by 7.0% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,493,657 shares of the semiconductor company’s stock worth $490,502,000 after buying an additional 98,000 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Nova by 2.8% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,468,863 shares of the semiconductor company’s stock worth $482,360,000 after buying an additional 40,256 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Nova by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 1,128,957 shares of the semiconductor company’s stock worth $377,402,000 after buying an additional 15,195 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Nova by 4.4% in the 4th quarter. Invesco Ltd. now owns 634,284 shares of the semiconductor company’s stock valued at $208,293,000 after buying an additional 26,940 shares during the period. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

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.