Nova (NASDAQ:NVMI) Trading Up 4.3% – Still a Buy?

Nova Ltd. (NASDAQ:NVMI) was up 4.3% during mid-day trading on Tuesday . The company traded as high as $198.53 and last traded at $198.53. Approximately 90,987 shares were traded during trading, a decline of 52% from the average daily volume of 190,127 shares. The stock had previously closed at $190.41.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Citigroup cut Nova from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $273.00 to $224.00 in a research report on Monday, September 16th. Benchmark lifted their price objective on shares of Nova from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Nova in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Nova has a consensus rating of “Moderate Buy” and an average price target of $227.80.

Nova Stock Down 0.5 %

The stock’s fifty day simple moving average is $189.30 and its 200-day simple moving average is $206.85. The company has a market capitalization of $5.71 billion, a PE ratio of 36.68, a PEG ratio of 1.78 and a beta of 1.44.

Hedge Funds Weigh In On Nova

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP raised its stake in shares of Nova by 131.0% during the 3rd quarter. Quantbot Technologies LP now owns 13,540 shares of the semiconductor company’s stock worth $2,821,000 after buying an additional 7,678 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its holdings in Nova by 74.6% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,281,869 shares of the semiconductor company’s stock valued at $267,487,000 after acquiring an additional 547,833 shares in the last quarter. Two Sigma Advisers LP raised its position in Nova by 121.9% during the third quarter. Two Sigma Advisers LP now owns 145,100 shares of the semiconductor company’s stock worth $30,230,000 after acquiring an additional 79,700 shares during the last quarter. LMR Partners LLP purchased a new stake in shares of Nova in the third quarter valued at about $15,669,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Nova in the third quarter valued at approximately $967,000. 82.99% of the stock is owned by institutional investors and hedge funds.

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.