Nova (NASDAQ:NVMI) Trading 3.6% Higher

Nova Ltd. (NASDAQ:NVMI)’s share price traded up 3.6% on Tuesday . The company traded as high as $176.67 and last traded at $176.67. 53,837 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 153,005 shares. The stock had previously closed at $170.47.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Evercore ISI assumed coverage on shares of Nova in a research report on Tuesday. They issued an “outperform” rating and a $210.00 target price for the company. Benchmark increased their price target on shares of Nova from $150.00 to $187.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Nova has an average rating of “Moderate Buy” and an average target price of $170.67.

Nova Stock Up 3.4 %

The business’s 50 day simple moving average is $171.31 and its 200 day simple moving average is $139.69. The stock has a market cap of $5.05 billion, a price-to-earnings ratio of 39.83, a PEG ratio of 6.47 and a beta of 1.41.

Nova (NASDAQ:NVMI) last posted its earnings results on Thursday, February 15th. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.14. The company had revenue of $134.22 million during the quarter, compared to analysts’ expectations of $128.00 million. Nova had a net margin of 26.32% and a return on equity of 20.55%. Equities research analysts forecast that Nova Ltd. will post 4.87 earnings per share for the current fiscal year.

Institutional Trading of Nova

Hedge funds have recently modified their holdings of the stock. UBS Group AG lifted its stake in shares of Nova by 8.9% during the 3rd quarter. UBS Group AG now owns 43,365 shares of the semiconductor company’s stock worth $4,876,000 after buying an additional 3,539 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Nova by 2.1% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,312,919 shares of the semiconductor company’s stock worth $147,625,000 after purchasing an additional 27,050 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Nova by 33.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 276,478 shares of the semiconductor company’s stock worth $31,087,000 after purchasing an additional 69,249 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its stake in Nova by 83.7% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 8,705 shares of the semiconductor company’s stock worth $979,000 after purchasing an additional 3,966 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Nova by 118.1% in the 3rd quarter. Invesco Ltd. now owns 428,132 shares of the semiconductor company’s stock worth $48,139,000 after purchasing an additional 231,862 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

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.