Analysts Set Nova Ltd. (NASDAQ:NVMI) Price Target at $236.60

Nova Ltd. (NASDAQ:NVMI) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $236.60.

NVMI has been the topic of a number of recent research reports. Bank of America lifted their price target on shares of Nova from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Citigroup upped their price target on Nova from $223.00 to $273.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Benchmark raised their price objective on Nova from $215.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a research note on Friday, May 10th. Finally, Jefferies Financial Group assumed coverage on shares of Nova in a research report on Monday, May 13th. They set a “buy” rating and a $240.00 target price for the company.

Institutional Trading of Nova

Several large investors have recently modified their holdings of NVMI. Cerity Partners LLC bought a new position in Nova during the fourth quarter worth $201,000. Mackenzie Financial Corp raised its stake in Nova by 11.1% during the 4th quarter. Mackenzie Financial Corp now owns 11,446 shares of the semiconductor company’s stock worth $1,589,000 after buying an additional 1,147 shares during the period. Jennison Associates LLC grew its stake in Nova by 38.0% in the fourth quarter. Jennison Associates LLC now owns 5,676 shares of the semiconductor company’s stock valued at $780,000 after acquiring an additional 1,564 shares during the period. Semanteon Capital Management LP bought a new stake in shares of Nova during the fourth quarter valued at approximately $1,256,000. Finally, Y.D. More Investments Ltd raised its position in shares of Nova by 110.2% during the fourth quarter. Y.D. More Investments Ltd now owns 10,300 shares of the semiconductor company’s stock worth $1,415,000 after purchasing an additional 5,400 shares during the period. Institutional investors and hedge funds own 82.99% of the company’s stock.

Nova Stock Up 2.9 %

NASDAQ NVMI opened at $224.95 on Wednesday. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 51.83, a price-to-earnings-growth ratio of 2.75 and a beta of 1.47. Nova has a twelve month low of $90.59 and a twelve month high of $247.21. The business’s fifty day moving average is $221.16 and its 200 day moving average is $198.23.

Nova (NASDAQ:NVMI) last released its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.43. Nova had a return on equity of 19.89% and a net margin of 26.26%. The company had revenue of $156.86 million for the quarter, compared to analysts’ expectations of $148.12 million. During the same period in the previous year, the business posted $0.97 earnings per share. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. On average, research analysts anticipate that Nova will post 4.79 earnings per share for the current fiscal year.

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.