Nova (NASDAQ:NVMI) Given New $220.00 Price Target at Bank of America

Nova (NASDAQ:NVMI) had its price objective raised by stock analysts at Bank of America from $190.00 to $220.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Bank of America‘s price objective indicates a potential upside of 13.91% from the stock’s current price.

Several other research firms also recently weighed in on NVMI. Evercore ISI initiated coverage on shares of Nova in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $210.00 target price on the stock. Benchmark lifted their price objective on shares of Nova from $150.00 to $187.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Nova currently has an average rating of “Moderate Buy” and an average price target of $205.67.

Nova Stock Up 6.6 %

NVMI opened at $193.14 on Friday. The business has a fifty day simple moving average of $175.82 and a 200-day simple moving average of $147.64. The firm has a market cap of $5.54 billion, a PE ratio of 45.13, a P/E/G ratio of 6.76 and a beta of 1.40. Nova has a fifty-two week low of $89.59 and a fifty-two week high of $198.71.

Nova (NASDAQ:NVMI) last released its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.29. The business had revenue of $141.80 million during the quarter, compared to analyst estimates of $136.78 million. Nova had a return on equity of 20.55% and a net margin of 26.32%. Nova’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted $1.12 EPS. On average, equities research analysts anticipate that Nova will post 4.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its stake in shares of Nova by 20.6% during the 3rd quarter. Signaturefd LLC now owns 672 shares of the semiconductor company’s stock valued at $76,000 after buying an additional 115 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in Nova by 12.0% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 2,215 shares of the semiconductor company’s stock valued at $249,000 after purchasing an additional 237 shares in the last quarter. Bank Hapoalim BM grew its stake in Nova by 13.1% in the fourth quarter. Bank Hapoalim BM now owns 2,166 shares of the semiconductor company’s stock valued at $298,000 after purchasing an additional 251 shares in the last quarter. Asset Dedication LLC acquired a new position in Nova in the 3rd quarter worth about $34,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Nova by 46.2% during the 1st quarter. Russell Investments Group Ltd. now owns 1,038 shares of the semiconductor company’s stock worth $184,000 after purchasing an additional 328 shares in the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

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.