Nova Ltd. (NASDAQ:NVMI) Receives $231.60 Average PT from Analysts

Nova Ltd. (NASDAQ:NVMI) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $231.60.

Several equities research analysts have weighed in on the stock. Citigroup lifted their price target on shares of Nova from $223.00 to $273.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Jefferies Financial Group initiated coverage on Nova in a research report on Monday, May 13th. They issued a “buy” rating and a $240.00 target price for the company. Bank of America increased their price target on Nova from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Evercore ISI initiated coverage on Nova in a report on Tuesday, April 16th. They set an “outperform” rating and a $210.00 price objective for the company. Finally, Benchmark lifted their target price on Nova from $187.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, May 10th.

Institutional Trading of Nova

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Nova by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 959,065 shares of the semiconductor company’s stock worth $107,837,000 after acquiring an additional 13,988 shares during the period. SG Americas Securities LLC purchased a new position in shares of Nova in the fourth quarter worth about $318,000. Raymond James & Associates raised its position in shares of Nova by 1.6% in the fourth quarter. Raymond James & Associates now owns 39,457 shares of the semiconductor company’s stock valued at $5,421,000 after purchasing an additional 613 shares during the period. Bank Hapoalim BM lifted its stake in shares of Nova by 13.1% during the 4th quarter. Bank Hapoalim BM now owns 2,166 shares of the semiconductor company’s stock valued at $298,000 after buying an additional 251 shares in the last quarter. Finally, Perfromance Wealth Partners LLC bought a new position in Nova in the 4th quarter worth approximately $343,000. 82.99% of the stock is owned by hedge funds and other institutional investors.

Nova Price Performance

Shares of NASDAQ:NVMI opened at $206.47 on Friday. Nova has a 1 year low of $90.59 and a 1 year high of $247.21. The business’s 50-day moving average is $223.86 and its 200-day moving average is $188.59. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 47.57, a P/E/G ratio of 2.93 and a beta of 1.47.

Nova (NASDAQ:NVMI) last issued its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.29. The firm had revenue of $141.80 million for the quarter, compared to analyst estimates of $136.78 million. Nova had a return on equity of 19.89% and a net margin of 26.26%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.12 earnings per share. Analysts anticipate that Nova will post 4.79 EPS for the current year.

About Nova

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.