Evercore ISI Initiates Coverage on Nova (NASDAQ:NVMI)

Research analysts at Evercore ISI assumed coverage on shares of Nova (NASDAQ:NVMI) in a research report issued on Tuesday, Benzinga reports. The firm set an “outperform” rating and a $210.00 price target on the semiconductor company’s stock. Evercore ISI’s price target would indicate a potential upside of 23.19% from the company’s previous close.

Separately, Benchmark upped their target price on Nova from $150.00 to $187.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $170.67.

Nova Price Performance

Shares of NASDAQ NVMI opened at $170.47 on Tuesday. Nova has a 1-year low of $87.85 and a 1-year high of $190.51. The business has a 50-day moving average of $171.31 and a 200-day moving average of $139.69. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 39.83, a PEG ratio of 6.47 and a beta of 1.41.

Nova (NASDAQ:NVMI) last issued its earnings results on Thursday, February 15th. The semiconductor company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.14. Nova had a return on equity of 20.55% and a net margin of 26.32%. The company had revenue of $134.22 million during the quarter, compared to the consensus estimate of $128.00 million. Research analysts expect that Nova will post 4.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. UBS Group AG lifted its holdings in Nova by 8.9% during the 3rd quarter. UBS Group AG now owns 43,365 shares of the semiconductor company’s stock worth $4,876,000 after buying an additional 3,539 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Nova by 2.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,312,919 shares of the semiconductor company’s stock worth $147,625,000 after buying an additional 27,050 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Nova by 33.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 276,478 shares of the semiconductor company’s stock worth $31,087,000 after buying an additional 69,249 shares during the last quarter. Campbell & CO Investment Adviser LLC raised its position in shares of Nova by 83.7% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 8,705 shares of the semiconductor company’s stock worth $979,000 after purchasing an additional 3,966 shares during the period. Finally, Invesco Ltd. raised its position in shares of Nova by 118.1% during the 3rd quarter. Invesco Ltd. now owns 428,132 shares of the semiconductor company’s stock worth $48,139,000 after purchasing an additional 231,862 shares during the period. Institutional investors own 82.99% of the company’s stock.

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.