Nova Ltd. (NASDAQ:NVMI) Receives Consensus Rating of “Moderate Buy” from Analysts

Nova Ltd. (NASDAQ:NVMIGet Free Report) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $221.25.

Several brokerages have issued reports on NVMI. Benchmark raised their price objective on shares of Nova from $187.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Jefferies Financial Group initiated coverage on shares of Nova in a research note on Monday, May 13th. They set a “buy” rating and a $240.00 price target for the company. Evercore ISI started coverage on shares of Nova in a research note on Tuesday, April 16th. They set an “outperform” rating and a $210.00 price target for the company. Bank of America lifted 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, Needham & Company LLC reissued a “hold” rating on shares of Nova in a report on Friday, May 10th.

View Our Latest Report on NVMI

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. TimesSquare Capital Management LLC lifted its position in Nova by 8.1% during the fourth quarter. TimesSquare Capital Management LLC now owns 71,770 shares of the semiconductor company’s stock valued at $9,860,000 after purchasing an additional 5,370 shares during the period. UBS Group AG grew its position in shares of Nova by 20.9% during the 4th quarter. UBS Group AG now owns 52,423 shares of the semiconductor company’s stock valued at $7,202,000 after acquiring an additional 9,058 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of 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 acquiring an additional 33,800 shares during the period. State of Tennessee Treasury Department grew its position in shares of Nova by 17.2% during the 4th quarter. State of Tennessee Treasury Department now owns 82,443 shares of the semiconductor company’s stock valued at $11,327,000 after acquiring an additional 12,120 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of 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 valued at $147,625,000 after acquiring an additional 27,050 shares during the period. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Nova Trading Up 1.0 %

Shares of NASDAQ:NVMI opened at $237.31 on Friday. Nova has a 12 month low of $90.59 and a 12 month high of $239.30. The company has a 50-day moving average price of $192.73 and a 200 day moving average price of $165.75. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 54.68, a PEG ratio of 3.28 and a beta of 1.42.

Nova (NASDAQ:NVMIGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.29. The firm had revenue of $141.80 million during the quarter, compared to the consensus estimate of $136.78 million. Nova had a net margin of 26.26% and a return on equity of 19.89%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.12 EPS. As a group, equities analysts forecast that Nova will post 4.79 EPS for the current year.

Nova Company Profile

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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.

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Analyst Recommendations for Nova (NASDAQ:NVMI)

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