ARK Investment Management LLC Sells 165 Shares of Nova Ltd. (NASDAQ:NVMI)

ARK Investment Management LLC lessened its holdings in Nova Ltd. (NASDAQ:NVMI) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,626 shares of the semiconductor company’s stock after selling 165 shares during the quarter. ARK Investment Management LLC’s holdings in Nova were worth $1,896,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NVMI. Quarry LP increased its stake in Nova by 438.5% in the third quarter. Quarry LP now owns 140 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 114 shares during the period. Advisors Asset Management Inc. boosted its holdings in Nova by 89.7% during the third quarter. Advisors Asset Management Inc. now owns 165 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 78 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Nova by 6.1% in the 4th quarter. Blue Trust Inc. now owns 1,275 shares of the semiconductor company’s stock valued at $251,000 after purchasing an additional 73 shares during the period. Lifestyle Asset Management Inc. bought a new stake in shares of Nova in the 3rd quarter valued at approximately $257,000. Finally, SkyOak Wealth LLC acquired a new position in shares of Nova in the 4th quarter worth approximately $327,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Cantor Fitzgerald began coverage on Nova in a research note on Monday, January 13th. They issued an “overweight” rating and a $275.00 price target on the stock. Benchmark boosted their target price on shares of Nova from $245.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Needham & Company LLC reiterated a “hold” rating on shares of Nova in a research report on Friday, February 14th. Finally, Citigroup raised shares of Nova from a “neutral” rating to a “buy” rating and lifted their price target for the company from $226.00 to $240.00 in a report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Nova presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.67.

Nova Stock Performance

Shares of NASDAQ:NVMI opened at $252.65 on Thursday. The business has a fifty day moving average of $233.41 and a 200-day moving average of $211.34. The firm has a market cap of $7.40 billion, a PE ratio of 44.02, a price-to-earnings-growth ratio of 2.55 and a beta of 1.44. Nova Ltd. has a twelve month low of $158.00 and a twelve month high of $289.90.

Nova (NASDAQ:NVMI) last announced its earnings results on Thursday, February 13th. The semiconductor company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.04). Nova had a return on equity of 22.33% and a net margin of 27.33%. The company had revenue of $194.77 million during the quarter, compared to the consensus estimate of $186.50 million. On average, analysts anticipate that Nova Ltd. will post 7.52 EPS for the current fiscal year.

Nova Company Profile

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.