Nova Ltd. (NASDAQ:NVMI) Receives $236.60 Consensus Price Target from Brokerages

Nova Ltd. (NASDAQ:NVMI) has received an average recommendation of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $226.80.

NVMI has been the topic of several recent research reports. Benchmark raised their target price on Nova from $215.00 to $240.00 and gave the company a “buy” rating in a report on Friday, August 9th. Citigroup lowered Nova from a “buy” rating to a “neutral” rating and cut their target price for the company from $273.00 to $224.00 in a report on Monday.

Institutional Trading of Nova

Several institutional investors and hedge funds have recently made changes to their positions in NVMI. BNP Paribas Financial Markets increased its position in shares of Nova by 231.2% in the 1st quarter. BNP Paribas Financial Markets now owns 31,083 shares of the semiconductor company’s stock valued at $5,514,000 after buying an additional 21,699 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Nova by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 987,071 shares of the semiconductor company’s stock valued at $175,087,000 after buying an additional 14,115 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of Nova in the 1st quarter valued at $2,589,000. Sei Investments Co. increased its position in shares of Nova by 12.7% in the 1st quarter. Sei Investments Co. now owns 128,423 shares of the semiconductor company’s stock valued at $22,780,000 after buying an additional 14,508 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Nova in the 1st quarter valued at $38,661,000. Institutional investors own 82.99% of the company’s stock.

Nova Stock Performance

NVMI opened at $205.30 on Friday. Nova has a one year low of $90.59 and a one year high of $247.21. The stock’s fifty day moving average is $210.72 and its 200-day moving average is $202.47. The company has a market capitalization of $5.96 billion, a PE ratio of 47.30, a P/E/G ratio of 2.49 and a beta of 1.46.

Nova (NASDAQ:NVMI) last issued its earnings results on Thursday, August 8th. The semiconductor company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.43. The business had revenue of $156.86 million for the quarter, compared to analysts’ expectations of $148.12 million. Nova had a return on equity of 20.76% and a net margin of 27.38%. The company’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.97 EPS. On average, equities research analysts forecast that Nova will post 5.63 EPS for the current fiscal year.

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.