Nova (NASDAQ:NVMI) Sets New 12-Month High at $200.97

Nova Ltd. (NASDAQ:NVMI)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $200.97 and last traded at $199.85, with a volume of 15390 shares trading hands. The stock had previously closed at $200.00.

Wall Street Analyst Weigh In

NVMI has been the subject of a number of recent analyst reports. Jefferies Financial Group began coverage on shares of Nova in a report on Monday. They set a “buy” rating and a $240.00 price target for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a research note on Friday, May 10th. Benchmark raised their price objective on Nova from $187.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Bank of America boosted their price objective on shares of Nova from $190.00 to $220.00 and gave the company a “buy” rating in a report on Friday, May 10th. Finally, Evercore ISI started coverage on shares of Nova in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $210.00 price target on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Nova has a consensus rating of “Moderate Buy” and a consensus target price of $221.25.

Nova Stock Performance

The stock has a market capitalization of $5.65 billion, a PE ratio of 44.82, a P/E/G ratio of 2.70 and a beta of 1.40. The firm’s 50 day moving average is $176.83 and its two-hundred day moving average is $150.93.

Nova (NASDAQ:NVMI) last posted its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.29. The business had revenue of $141.80 million for the quarter, compared to analyst estimates of $136.78 million. Nova had a return on equity of 19.89% and a net margin of 26.26%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 earnings per share. On average, analysts anticipate that Nova Ltd. will post 5.21 EPS for the current year.

Institutional Trading of Nova

Hedge funds have recently added to or reduced their stakes in the company. Asset Dedication LLC acquired a new stake in shares of Nova in the 3rd quarter valued at $34,000. Signaturefd LLC boosted its position in shares of Nova by 20.6% during the 3rd quarter. Signaturefd LLC now owns 672 shares of the semiconductor company’s stock worth $76,000 after acquiring an additional 115 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Nova by 46.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,038 shares of the semiconductor company’s stock valued at $184,000 after acquiring an additional 328 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Nova during the 4th quarter worth about $201,000. Finally, D.A. Davidson & CO. purchased a new stake in Nova during the fourth quarter worth approximately $210,000. Institutional investors and hedge funds 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.