Nova Ltd. (NASDAQ:NVMI) Receives Average Rating of “Moderate Buy” from Brokerages

Nova Ltd. (NASDAQ:NVMI) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $227.80.

A number of analysts have recently weighed in on NVMI shares. Citigroup downgraded shares of Nova from a “buy” rating to a “neutral” rating and cut their price target for the stock from $273.00 to $224.00 in a report on Monday, September 16th. Needham & Company LLC restated a “hold” rating on shares of Nova in a research note on Friday, November 8th. Finally, Benchmark raised their target price on Nova from $240.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 8th.

Institutional Trading of Nova

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Nova during the 2nd quarter valued at $232,000. Meitav Investment House Ltd. boosted its stake in shares of Nova by 28.1% during the second quarter. Meitav Investment House Ltd. now owns 556,839 shares of the semiconductor company’s stock valued at $130,258,000 after purchasing an additional 122,218 shares in the last quarter. Burney Co. grew its holdings in shares of Nova by 17.4% during the second quarter. Burney Co. now owns 1,398 shares of the semiconductor company’s stock worth $328,000 after purchasing an additional 207 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Nova by 7.2% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,195,985 shares of the semiconductor company’s stock valued at $280,494,000 after buying an additional 80,500 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Nova by 15.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,421 shares of the semiconductor company’s stock worth $2,445,000 after buying an additional 1,422 shares during the period. Institutional investors own 82.99% of the company’s stock.

Nova Stock Down 1.4 %

NVMI opened at $197.18 on Tuesday. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 36.79, a P/E/G ratio of 1.78 and a beta of 1.44. Nova has a twelve month low of $128.74 and a twelve month high of $247.21. The company has a 50-day simple moving average of $189.31 and a 200 day simple moving average of $205.44.

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.