Nova Ltd. (NASDAQ:NVMI) Stock Position Lifted by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Nova Ltd. (NASDAQ:NVMI) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,370,985 shares of the semiconductor company’s stock after buying an additional 97,000 shares during the period. Nova accounts for 3.9% of Migdal Insurance & Financial Holdings Ltd.’s portfolio, making the stock its 5th biggest holding. Migdal Insurance & Financial Holdings Ltd.’s holdings in Nova were worth $270,015,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Quantbot Technologies LP lifted its position in shares of Nova by 131.0% during the 3rd quarter. Quantbot Technologies LP now owns 13,540 shares of the semiconductor company’s stock valued at $2,821,000 after buying an additional 7,678 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Nova by 74.6% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,281,869 shares of the semiconductor company’s stock worth $267,487,000 after purchasing an additional 547,833 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in Nova by 121.9% in the 3rd quarter. Two Sigma Advisers LP now owns 145,100 shares of the semiconductor company’s stock worth $30,230,000 after purchasing an additional 79,700 shares in the last quarter. LMR Partners LLP purchased a new position in Nova in the 3rd quarter worth approximately $15,669,000. Finally, Quadrature Capital Ltd purchased a new position in Nova in the 3rd quarter worth approximately $967,000. 82.99% of the stock is owned by hedge funds and other institutional investors.

Nova Stock Performance

NASDAQ NVMI opened at $253.76 on Friday. The business’s 50 day moving average price is $213.37 and its 200-day moving average price is $205.15. The company has a market cap of $7.37 billion, a P/E ratio of 47.34, a P/E/G ratio of 2.00 and a beta of 1.44. Nova Ltd. has a fifty-two week low of $145.62 and a fifty-two week high of $266.13.

Wall Street Analyst Weigh In

NVMI has been the topic of a number of research analyst reports. Citigroup raised Nova from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $226.00 to $240.00 in a report on Monday, January 6th. Benchmark boosted their price target on Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Needham & Company LLC reissued a “hold” rating on shares of Nova in a report on Friday, November 8th. Finally, Cantor Fitzgerald initiated coverage on Nova in a report on Monday, January 13th. They issued an “overweight” rating and a $275.00 price target on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.33.

Nova 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.