Nova (NASDAQ:NVMI) Research Coverage Started at Evercore ISI

Evercore ISI began coverage on shares of Nova (NASDAQ:NVMI) in a research note released on Tuesday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $210.00 price objective on the semiconductor company’s stock.

Separately, Benchmark raised their price objective on Nova from $150.00 to $187.00 and gave the stock a buy rating in a research report on Friday, February 16th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $170.67.

Nova Trading Down 5.9 %

Shares of NASDAQ:NVMI opened at $159.92 on Tuesday. Nova has a 12-month low of $87.85 and a 12-month high of $190.51. The business’s fifty day simple moving average is $172.74 and its 200-day simple moving average is $140.90. The company has a market capitalization of $4.59 billion, a PE ratio of 37.36, a P/E/G ratio of 6.45 and a beta of 1.41.

Nova (NASDAQ:NVMI) last announced its quarterly earnings results on Thursday, February 15th. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.14. Nova had a return on equity of 20.55% and a net margin of 26.32%. The business had revenue of $134.22 million for the quarter, compared to the consensus estimate of $128.00 million. Research analysts predict that Nova will post 4.87 EPS for the current year.

Institutional Trading of Nova

A number of institutional investors have recently made changes to their positions in NVMI. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Nova by 74.9% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 604,977 shares of the semiconductor company’s stock worth $83,202,000 after purchasing an additional 259,021 shares in the last quarter. Invesco Ltd. lifted its position in Nova by 118.1% during the 3rd quarter. Invesco Ltd. now owns 428,132 shares of the semiconductor company’s stock worth $48,139,000 after acquiring an additional 231,862 shares during the period. Millennium Management LLC lifted its position in Nova by 262.1% during the 4th quarter. Millennium Management LLC now owns 230,497 shares of the semiconductor company’s stock worth $18,827,000 after acquiring an additional 166,836 shares during the period. Sphera Funds Management LTD. acquired a new stake in Nova during the 4th quarter worth about $18,135,000. Finally, Nuveen Asset Management LLC acquired a new stake in Nova during the 4th quarter worth about $17,150,000. 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.