Westfield Capital Management Co. LP Reduces Position in Nova Ltd. (NASDAQ:NVMI)

Westfield Capital Management Co. LP trimmed its holdings in Nova Ltd. (NASDAQ:NVMI) by 92.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,943 shares of the semiconductor company’s stock after selling 166,891 shares during the period. Westfield Capital Management Co. LP’s holdings in Nova were worth $2,697,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVMI. Advisors Asset Management Inc. raised its holdings in Nova by 89.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 165 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 78 shares during the last quarter. Employees Retirement System of Texas acquired a new stake in shares of Nova in the second quarter valued at approximately $68,000. FSC Wealth Advisors LLC purchased a new position in Nova during the second quarter worth approximately $79,000. Signaturefd LLC boosted its stake in Nova by 15.9% during the second quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock worth $180,000 after buying an additional 105 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Nova by 46.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,038 shares of the semiconductor company’s stock valued at $184,000 after buying an additional 328 shares in the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

Nova Price Performance

NASDAQ NVMI opened at $176.10 on Tuesday. The stock has a market capitalization of $5.12 billion, a P/E ratio of 32.85, a PEG ratio of 1.70 and a beta of 1.47. The firm’s 50-day moving average is $194.30 and its two-hundred day moving average is $208.95. Nova Ltd. has a 12 month low of $123.44 and a 12 month high of $247.21.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NVMI shares. Benchmark lifted their price target on Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Citigroup downgraded shares of Nova from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $273.00 to $224.00 in a research note on Monday, September 16th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Nova in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Nova has a consensus rating of “Moderate Buy” and a consensus price target of $227.80.

Nova 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.