Arrowstreet Capital Limited Partnership Cuts Holdings in Nova Ltd. (NASDAQ:NVMI)

Arrowstreet Capital Limited Partnership cut its position in shares of Nova Ltd. (NASDAQ:NVMI) by 43.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 174,685 shares of the semiconductor company’s stock after selling 136,132 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.60% of Nova worth $34,436,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. grew its stake in Nova by 6.1% during the fourth quarter. Blue Trust Inc. now owns 1,275 shares of the semiconductor company’s stock worth $251,000 after buying an additional 73 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of Nova by 24.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 401 shares of the semiconductor company’s stock valued at $79,000 after acquiring an additional 78 shares in the last quarter. Truvestments Capital LLC boosted its position in Nova by 1.7% during the 4th quarter. Truvestments Capital LLC now owns 5,032 shares of the semiconductor company’s stock worth $991,000 after purchasing an additional 84 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Nova by 0.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,576 shares of the semiconductor company’s stock valued at $2,482,000 after purchasing an additional 85 shares in the last quarter. Finally, Quarry LP raised its position 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 purchasing an additional 114 shares during the period. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NVMI shares. Cantor Fitzgerald decreased their target price on Nova from $315.00 to $300.00 and set an “overweight” rating for the company in a research report on Friday, March 14th. Benchmark upped their price target on Nova from $245.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Needham & Company LLC reiterated a “hold” rating on shares of Nova in a research note on Friday, February 14th. Finally, Citigroup raised shares of Nova from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $226.00 to $240.00 in a research report on Monday, January 6th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $250.83.

Nova Stock Up 3.7 %

Shares of NVMI opened at $191.68 on Thursday. Nova Ltd. has a 52-week low of $158.00 and a 52-week high of $289.90. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 2.55 and a beta of 1.46. The business’s 50 day moving average is $230.85 and its two-hundred day moving average is $210.17.

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

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.