Nova Ltd. (NASDAQ:NVMI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Nova Ltd. (NASDAQ:NVMI) has been given an average recommendation of “Moderate Buy” by the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $238.33.

A number of research firms have recently commented on NVMI. Citigroup upgraded shares of Nova from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $226.00 to $240.00 in a research note on Monday, January 6th. Benchmark raised their target price on shares of Nova from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Nova in a research report on Friday, November 8th. Finally, Cantor Fitzgerald assumed coverage on shares of Nova in a research report on Monday, January 13th. They set an “overweight” rating and a $275.00 price objective for the company.

Nova Stock Down 0.6 %

Shares of NVMI stock opened at $256.88 on Friday. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of 47.93, a price-to-earnings-growth ratio of 2.03 and a beta of 1.42. Nova has a 12-month low of $141.61 and a 12-month high of $266.13. The firm has a fifty day moving average of $199.46 and a 200-day moving average of $204.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP increased its stake in Nova by 131.0% in the third quarter. Quantbot Technologies LP now owns 13,540 shares of the semiconductor company’s stock valued at $2,821,000 after acquiring an additional 7,678 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Nova by 74.6% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,281,869 shares of the semiconductor company’s stock worth $267,487,000 after purchasing an additional 547,833 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of Nova by 121.9% during the third quarter. Two Sigma Advisers LP now owns 145,100 shares of the semiconductor company’s stock worth $30,230,000 after purchasing an additional 79,700 shares during the period. LMR Partners LLP acquired a new position in shares of Nova during the third quarter worth $15,669,000. Finally, Quadrature Capital Ltd acquired a new position in Nova in the third quarter valued at $967,000. 82.99% of the stock is owned by institutional investors.

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.