Nova (NASDAQ:NVMI) Given New $245.00 Price Target at Benchmark

Nova (NASDAQ:NVMI) had its price target lifted by equities research analysts at Benchmark from $240.00 to $245.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Benchmark’s price target would suggest a potential upside of 18.75% from the stock’s previous close.

Several other research firms also recently issued reports on NVMI. Citigroup downgraded shares of Nova from a “buy” rating to a “neutral” rating and dropped their price target for the company from $273.00 to $224.00 in a research note on Monday, September 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a research report on Friday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Nova currently has an average rating of “Moderate Buy” and a consensus price target of $227.80.

Nova Stock Down 0.0 %

Shares of NVMI opened at $206.32 on Friday. The business has a 50-day simple moving average of $198.83 and a two-hundred day simple moving average of $207.60. Nova has a 12-month low of $102.23 and a 12-month high of $247.21. The stock has a market cap of $5.99 billion, a PE ratio of 42.89, a PEG ratio of 1.89 and a beta of 1.47.

Nova (NASDAQ:NVMI) last released its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.43. Nova had a return on equity of 20.76% and a net margin of 27.38%. The company had revenue of $156.86 million during the quarter, compared to the consensus estimate of $148.12 million. During the same quarter in the prior year, the firm posted $0.97 earnings per share. The firm’s revenue was up 27.8% compared to the same quarter last year. On average, equities research analysts expect that Nova will post 5.63 EPS for the current year.

Institutional Investors Weigh In On Nova

Several large investors have recently modified their holdings of the company. Employees Retirement System of Texas acquired a new position in Nova in the second quarter valued at $68,000. FSC Wealth Advisors LLC acquired a new stake in Nova during the 2nd quarter worth about $79,000. Signaturefd LLC raised its position in shares of Nova by 15.9% in the 2nd quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock worth $180,000 after acquiring an additional 105 shares in the last quarter. OLD National Bancorp IN acquired a new position in shares of Nova in the 2nd quarter valued at about $205,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Nova during the 2nd quarter valued at about $211,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.

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.