abrdn plc Sells 41,729 Shares of Nova Ltd. (NASDAQ:NVMI)

abrdn plc trimmed its position in shares of Nova Ltd. (NASDAQ:NVMI) by 24.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 131,041 shares of the semiconductor company’s stock after selling 41,729 shares during the period. abrdn plc’s holdings in Nova were worth $25,844,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quantbot Technologies LP grew its holdings in Nova by 131.0% during the third quarter. Quantbot Technologies LP now owns 13,540 shares of the semiconductor company’s stock valued at $2,821,000 after purchasing an additional 7,678 shares during the period. Clal Insurance Enterprises Holdings Ltd grew its holdings in Nova by 74.6% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,281,869 shares of the semiconductor company’s stock valued at $267,487,000 after purchasing an additional 547,833 shares during the period. Two Sigma Advisers LP grew its holdings in Nova by 121.9% during 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. LMR Partners LLP bought a new position in Nova during the third quarter valued at $15,669,000. Finally, Quadrature Capital Ltd bought a new position in Nova during the third quarter valued at $967,000. 82.99% of the stock is owned by institutional investors.

Nova Stock Performance

Shares of NVMI stock opened at $248.60 on Thursday. Nova Ltd. has a 52-week low of $144.64 and a 52-week high of $266.13. The company has a market capitalization of $7.22 billion, a PE ratio of 46.38, a price-to-earnings-growth ratio of 2.00 and a beta of 1.44. The business’s fifty day moving average is $211.84 and its 200 day moving average is $204.84.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Nova in a report on Friday, November 8th. Cantor Fitzgerald initiated coverage on Nova in a research report on Monday, January 13th. They set an “overweight” rating and a $275.00 target price on the stock. Citigroup upgraded Nova from a “neutral” rating to a “buy” rating and increased their target price for the stock from $226.00 to $240.00 in a research report on Monday, January 6th. Finally, Benchmark increased their target price on Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Nova has a consensus rating of “Moderate Buy” and an average target price of $238.33.

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.