Nova Ltd. (NASDAQ:NVMI) Receives $442.25 Average Price Target from Analysts

Nova Ltd. (NASDAQ:NVMI) has earned a consensus rating of “Moderate Buy” from the ten analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $442.25.

A number of equities analysts recently weighed in on NVMI shares. Citigroup increased their price objective on shares of Nova from $370.00 to $520.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Barclays initiated coverage on Nova in a research report on Wednesday, March 11th. They issued an “overweight” rating and a $465.00 target price on the stock. Evercore restated an “outperform” rating and set a $485.00 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, Morgan Stanley reiterated an “outperform” rating and issued a $453.00 price objective on shares of Nova in a report on Friday, February 13th.

Nova Stock Up 0.3%

Shares of NVMI opened at $522.91 on Tuesday. The company’s 50-day moving average price is $460.89 and its 200 day moving average price is $393.69. Nova has a 12-month low of $176.52 and a 12-month high of $544.62. The company has a current ratio of 6.28, a quick ratio of 5.47 and a debt-to-equity ratio of 0.56. The firm has a market cap of $16.62 billion, a P/E ratio of 65.28, a price-to-earnings-growth ratio of 3.81 and a beta of 1.80.

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 9.37 earnings per share for the current year.

Institutional Trading of Nova

Institutional investors and hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC acquired a new position in shares of Nova in the fourth quarter valued at approximately $29,000. Measured Wealth Private Client Group LLC acquired a new stake in Nova during the 3rd quarter worth approximately $40,000. CIBC Private Wealth Group LLC boosted its position in 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. Caitong International Asset Management Co. Ltd boosted its position in Nova by 2,042.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 143 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in shares of Nova by 51.6% in the first quarter. Advisors Asset Management Inc. now owns 376 shares of the semiconductor company’s stock worth $69,000 after acquiring an additional 128 shares in the last quarter. 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.