Nova (NASDAQ:NVMI) Sees Large Volume Increase

Shares of Nova Ltd. (NASDAQ:NVMI) saw unusually-strong trading volume on Tuesday . Approximately 126,913 shares traded hands during trading, a decline of 30% from the previous session’s volume of 182,135 shares.The stock last traded at $224.36 and had previously closed at $218.61.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NVMI shares. Bank of America upped their price objective on shares of Nova from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Needham & Company LLC reissued a “hold” rating on shares of Nova in a report on Friday, May 10th. Jefferies Financial Group began coverage on shares of Nova in a report on Monday, May 13th. They issued a “buy” rating and a $240.00 target price for the company. Benchmark increased their target price on shares of Nova from $215.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Citigroup increased their target price on shares of Nova from $223.00 to $273.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Nova presently has an average rating of “Moderate Buy” and an average price target of $236.60.

Nova Trading Up 2.9 %

The firm has a market cap of $6.53 billion, a price-to-earnings ratio of 50.37, a P/E/G ratio of 2.75 and a beta of 1.47. The business’s 50-day simple moving average is $221.48 and its two-hundred day simple moving average is $197.78.

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

Institutional Trading of Nova

Several large investors have recently modified their holdings of NVMI. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Nova by 7.2% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,195,985 shares of the semiconductor company’s stock worth $280,494,000 after purchasing an additional 80,500 shares in the last quarter. Vanguard Group Inc. lifted its stake in Nova by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 987,071 shares of the semiconductor company’s stock valued at $175,087,000 after acquiring an additional 14,115 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Nova by 3.0% during the 1st quarter. Acadian Asset Management LLC now owns 803,025 shares of the semiconductor company’s stock valued at $142,408,000 after acquiring an additional 23,668 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Nova by 45.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 645,203 shares of the semiconductor company’s stock valued at $151,319,000 after acquiring an additional 200,816 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd lifted its stake in Nova by 74.9% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 604,977 shares of the semiconductor company’s stock valued at $83,202,000 after acquiring an additional 259,021 shares in the last quarter. Institutional investors and hedge funds 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.