Nova (NASDAQ:NVMI) PT Raised to $273.00 at Citigroup

Nova (NASDAQ:NVMI) had its target price boosted by research analysts at Citigroup from $223.00 to $273.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Citigroup’s price objective would indicate a potential upside of 12.95% from the stock’s current price.

A number of other equities analysts have also recently weighed in on NVMI. Evercore ISI began coverage on Nova in a report on Tuesday, April 16th. They issued an “outperform” rating and a $210.00 price target for the company. Jefferies Financial Group started coverage on Nova in a research report on Monday, May 13th. They set a “buy” rating and a $240.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Nova in a report on Friday, May 10th. Benchmark increased their price objective on shares of Nova from $187.00 to $215.00 and gave the company a “buy” rating in a report on Friday, May 10th. Finally, Bank of America boosted their target price on shares of Nova from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Nova has a consensus rating of “Moderate Buy” and an average target price of $231.60.

Nova Trading Up 0.6 %

Shares of NASDAQ:NVMI opened at $241.71 on Monday. Nova has a 12-month low of $90.59 and a 12-month high of $247.21. The business has a 50 day moving average of $222.07 and a two-hundred day moving average of $183.35. The company has a market capitalization of $7.02 billion, a PE ratio of 55.69, a PEG ratio of 3.43 and a beta of 1.47.

Nova (NASDAQ:NVMI) last posted its earnings results on Thursday, May 9th. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.29. The firm had revenue of $141.80 million during the quarter, compared to analysts’ expectations of $136.78 million. Nova had a net margin of 26.26% and a return on equity of 19.89%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.12 EPS. Equities research analysts predict that Nova will post 4.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nova

Several hedge funds and other institutional investors have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Nova by 3.3% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,070,485 shares of the semiconductor company’s stock worth $147,074,000 after purchasing an additional 33,800 shares during the last quarter. Vanguard Group Inc. boosted its stake in Nova by 1.5% during the first quarter. Vanguard Group Inc. now owns 987,071 shares of the semiconductor company’s stock worth $175,087,000 after buying an additional 14,115 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Nova by 3.0% in the 1st quarter. Acadian Asset Management LLC now owns 803,025 shares of the semiconductor company’s stock worth $142,408,000 after acquiring an additional 23,668 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Nova by 74.9% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 604,977 shares of the semiconductor company’s stock worth $83,202,000 after acquiring an additional 259,021 shares during the period. Finally, Capital World Investors raised its holdings in shares of Nova by 22.3% during the 1st quarter. Capital World Investors now owns 450,868 shares of the semiconductor company’s stock worth $79,975,000 after acquiring an additional 82,322 shares during the period. 82.99% of the stock is owned by hedge funds and other 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.