Cantor Fitzgerald Lowers Nova (NASDAQ:NVMI) Price Target to $300.00

Nova (NASDAQ:NVMI) had its price objective cut by Cantor Fitzgerald from $315.00 to $300.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

NVMI has been the subject of a number of other research reports. Benchmark boosted their price objective on shares of Nova from $245.00 to $295.00 and gave the company a “buy” rating in a report on Friday, February 14th. Needham & Company LLC restated a “hold” rating on shares of Nova in a report on Friday, February 14th. Finally, Citigroup upgraded shares of Nova from a “neutral” rating to a “buy” rating and upped their price target for the company from $226.00 to $240.00 in a report on Monday, January 6th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $250.83.

Nova Stock Performance

Shares of NASDAQ NVMI opened at $219.13 on Friday. The stock has a market cap of $6.42 billion, a P/E ratio of 38.18, a P/E/G ratio of 2.55 and a beta of 1.46. The firm has a 50 day moving average price of $240.27 and a 200 day moving average price of $211.36. Nova has a 52-week low of $158.00 and a 52-week high of $289.90.

Nova (NASDAQ:NVMI) last issued its quarterly earnings data on Thursday, February 13th. The semiconductor company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.04). The firm had revenue of $194.77 million for the quarter, compared to analyst estimates of $186.50 million. Nova had a net margin of 27.33% and a return on equity of 22.33%. Analysts predict that Nova will post 7.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NVMI. Quarry LP boosted its holdings in Nova by 438.5% during the third quarter. Quarry LP now owns 140 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 114 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Nova by 89.7% during the third quarter. Advisors Asset Management Inc. now owns 165 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 78 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Nova by 24.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 401 shares of the semiconductor company’s stock worth $79,000 after purchasing an additional 78 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Nova during the fourth quarter worth $112,000. Finally, Quadrant Capital Group LLC boosted its holdings in Nova by 5.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,030 shares of the semiconductor company’s stock worth $203,000 after purchasing an additional 51 shares during the last quarter. 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.