Zurcher Kantonalbank Zurich Cantonalbank Has $2.62 Million Stock Position in Nova Ltd. (NASDAQ:NVMI)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Nova Ltd. (NASDAQ:NVMI) by 19.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,491 shares of the semiconductor company’s stock after purchasing an additional 2,070 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Nova were worth $2,616,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of NVMI. Harbor Capital Advisors Inc. boosted its position in shares of Nova by 235.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,641 shares of the semiconductor company’s stock valued at $1,558,000 after purchasing an additional 4,663 shares during the period. OLD National Bancorp IN purchased a new stake in Nova in the 2nd quarter worth about $205,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Nova in the 2nd quarter worth about $232,000. FSC Wealth Advisors LLC purchased a new stake in Nova in the 2nd quarter worth about $79,000. Finally, Assenagon Asset Management S.A. lifted its stake in Nova by 84.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 128,854 shares of the semiconductor company’s stock worth $30,236,000 after acquiring an additional 59,164 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Nova Price Performance

NVMI opened at $189.91 on Wednesday. Nova Ltd. has a fifty-two week low of $124.42 and a fifty-two week high of $247.21. The business has a 50-day moving average of $192.03 and a 200-day moving average of $208.27. The company has a market capitalization of $5.52 billion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 1.80 and a beta of 1.44.

Wall Street Analyst Weigh In

NVMI has been the subject of several research analyst reports. Citigroup downgraded Nova from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $273.00 to $224.00 in a research note on Monday, September 16th. Benchmark increased their price objective on Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Nova in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $227.80.

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.