Nova’s (NVMI) “Hold” Rating Reaffirmed at Needham & Company LLC

Nova (NASDAQ:NVMI)‘s stock had its “hold” rating reaffirmed by research analysts at Needham & Company LLC in a research note issued to investors on Friday, Benzinga reports.

Several other analysts also recently weighed in on the stock. Benchmark boosted their price target on shares of Nova from $150.00 to $187.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Evercore ISI began coverage on Nova in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $210.00 target price for the company. Finally, Bank of America raised their price target on Nova from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.67.

Nova Trading Up 6.6 %

NVMI opened at $193.14 on Friday. The stock has a market capitalization of $5.54 billion, a P/E ratio of 45.13, a PEG ratio of 6.76 and a beta of 1.40. Nova has a 12-month low of $89.59 and a 12-month high of $198.71. The stock has a 50-day moving average price of $175.82 and a 200-day moving average price of $147.64.

Nova (NASDAQ:NVMI) last issued 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 business had revenue of $141.80 million for the quarter, compared to analysts’ expectations of $136.78 million. Nova had a net margin of 26.32% and a return on equity of 20.55%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the business earned $1.12 earnings per share. On average, equities research analysts predict that Nova will post 4.87 EPS for the current year.

Hedge Funds Weigh In On Nova

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS Group AG increased its holdings in Nova by 8.9% during the 3rd quarter. UBS Group AG now owns 43,365 shares of the semiconductor company’s stock valued at $4,876,000 after purchasing an additional 3,539 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Nova by 3.3% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,070,485 shares of the semiconductor company’s stock valued at $147,074,000 after buying an additional 33,800 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in shares of Nova by 2.1% during the third 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Nova by 33.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 276,478 shares of the semiconductor company’s stock worth $31,087,000 after acquiring an additional 69,249 shares during the period. Finally, Campbell & CO Investment Adviser LLC boosted its holdings in Nova by 83.7% in the third quarter. Campbell & CO Investment Adviser LLC now owns 8,705 shares of the semiconductor company’s stock valued at $979,000 after acquiring an additional 3,966 shares in the last quarter. 82.99% of the stock is owned by institutional investors.

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.