Nova Ltd. (NASDAQ:NVMI) Receives $246.67 Average Price Target from Analysts

Nova Ltd. (NASDAQ:NVMI) has been given a consensus rating of “Moderate Buy” by the seven research firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $250.83.

Several equities research analysts have issued reports on NVMI shares. Citigroup raised shares of Nova from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $226.00 to $240.00 in a research note on Monday, January 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a research note on Friday, February 14th. Benchmark lifted their target price on shares of Nova from $245.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, Cantor Fitzgerald lowered their target price on shares of Nova from $315.00 to $300.00 and set an “overweight” rating on the stock in a research note on Friday.

Nova Price Performance

Shares of NASDAQ NVMI opened at $219.13 on Friday. The firm’s 50 day simple moving average is $240.27 and its 200-day simple moving average is $211.27. Nova has a 12 month low of $158.00 and a 12 month high of $289.90. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of 38.18, a PEG ratio of 2.55 and a beta of 1.46.

Nova (NASDAQ:NVMI) last released its quarterly earnings results on Thursday, February 13th. The semiconductor company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.04). Nova had a net margin of 27.33% and a return on equity of 22.33%. The company had revenue of $194.77 million during the quarter, compared to analyst estimates of $186.50 million. Analysts anticipate that Nova will post 7.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp raised its holdings in shares of Nova by 16.3% during the 4th quarter. Mackenzie Financial Corp now owns 7,658 shares of the semiconductor company’s stock worth $1,508,000 after acquiring an additional 1,071 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Nova by 4.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 98,620 shares of the semiconductor company’s stock valued at $19,427,000 after buying an additional 4,304 shares during the period. PharVision Advisers LLC purchased a new stake in Nova in the 4th quarter valued at about $335,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Nova by 1.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,120 shares of the semiconductor company’s stock valued at $5,735,000 after buying an additional 307 shares during the period. Finally, USS Investment Management Ltd purchased a new stake in Nova in the 4th quarter valued at about $2,232,000. Hedge funds and other institutional investors 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.