Headlands Technologies LLC Buys New Shares in Nova Ltd. (NASDAQ:NVMI)

Headlands Technologies LLC purchased a new position in Nova Ltd. (NASDAQ:NVMI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,360 shares of the semiconductor company’s stock, valued at approximately $662,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Two Sigma Advisers LP grew its holdings in Nova by 121.9% in the third quarter. Two Sigma Advisers LP now owns 145,100 shares of the semiconductor company’s stock valued at $30,230,000 after purchasing an additional 79,700 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Nova in the 3rd quarter valued at $967,000. JPMorgan Chase & Co. grew its stake in shares of Nova by 253.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 35,327 shares of the semiconductor company’s stock valued at $7,360,000 after buying an additional 25,345 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Nova by 170.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 21,987 shares of the semiconductor company’s stock worth $4,581,000 after buying an additional 13,858 shares during the last quarter. Finally, SkyOak Wealth LLC purchased a new position in shares of Nova in the 4th quarter worth $327,000. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Analysts Set New Price Targets

NVMI has been the subject of several research analyst reports. Cantor Fitzgerald dropped their price target on Nova from $315.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday, March 14th. Benchmark increased their target price on shares of Nova from $245.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Citigroup raised shares of Nova from a “neutral” rating to a “buy” rating and lifted their price target for the company from $226.00 to $240.00 in a research report on Monday, January 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Nova in a research report on Friday, February 14th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Nova presently has an average rating of “Moderate Buy” and an average price target of $250.83.

Nova Stock Up 3.7 %

NASDAQ NVMI opened at $191.68 on Thursday. Nova Ltd. has a fifty-two week low of $158.00 and a fifty-two week high of $289.90. The business has a 50 day moving average price of $230.85 and a two-hundred day moving average price of $210.17. The stock has a market cap of $5.61 billion, a PE ratio of 33.39, a P/E/G ratio of 2.55 and a beta of 1.46.

Nova (NASDAQ:NVMI) last announced its earnings results on Thursday, February 13th. The semiconductor company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.04). Nova had a net margin of 27.33% and a return on equity of 22.33%. The firm had revenue of $194.77 million during the quarter, compared to analysts’ expectations of $186.50 million. Sell-side analysts anticipate that Nova Ltd. will post 7.52 EPS 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.