Eagle Ridge Investment Management Reduces Stock Position in Nova Ltd. (NASDAQ:NVMI)

Eagle Ridge Investment Management reduced its holdings in Nova Ltd. (NASDAQ:NVMI) by 5.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,284 shares of the semiconductor company’s stock after selling 198 shares during the period. Eagle Ridge Investment Management’s holdings in Nova were worth $451,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Nova by 2.1% in 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 acquiring an additional 27,050 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Nova by 3.3% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,070,485 shares of the semiconductor company’s stock valued at $147,074,000 after buying an additional 33,800 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Nova by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 959,065 shares of the semiconductor company’s stock valued at $107,837,000 after buying an additional 13,988 shares in the last quarter. Invesco Ltd. lifted its holdings in Nova by 118.1% during the 3rd quarter. Invesco Ltd. now owns 428,132 shares of the semiconductor company’s stock valued at $48,139,000 after buying an additional 231,862 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Nova by 19.8% during the 3rd quarter. American Century Companies Inc. now owns 317,133 shares of the semiconductor company’s stock valued at $35,658,000 after buying an additional 52,460 shares in the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

Nova Stock Down 0.6 %

Shares of Nova stock traded down $1.03 on Monday, reaching $173.31. The stock had a trading volume of 65,354 shares, compared to its average volume of 164,154. The company has a 50 day moving average price of $173.52 and a 200 day moving average price of $143.51. Nova Ltd. has a 1 year low of $87.85 and a 1 year high of $190.51. The stock has a market capitalization of $4.97 billion, a P/E ratio of 40.53, a P/E/G ratio of 6.61 and a beta of 1.41.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NVMI shares. Benchmark lifted their price objective on shares of Nova from $150.00 to $187.00 and gave the company a “buy” rating in a report on Friday, February 16th. Evercore ISI started coverage on shares of Nova in a research report on Tuesday, April 16th. They set an “outperform” rating and a $210.00 target price on the 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.