Nova (NASDAQ:NVMI) Trading 6.2% Higher – Should You Buy?

Nova Ltd. (NASDAQ:NVMI) traded up 6.2% on Friday . The stock traded as high as $183.33 and last traded at $183.10. 21,366 shares were traded during mid-day trading, a decline of 89% from the average session volume of 190,364 shares. The stock had previously closed at $172.39.

Analyst Ratings Changes

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

Nova Trading Up 7.3 %

The company’s 50 day moving average is $192.84 and its 200-day moving average is $208.31. The stock has a market cap of $5.37 billion, a PE ratio of 34.16, a P/E/G ratio of 1.63 and a beta of 1.47.

Institutional Investors Weigh In On Nova

Hedge funds have recently bought and sold shares of the business. Evergreen Capital Management LLC grew its position in shares of Nova by 5.0% during the second quarter. Evergreen Capital Management LLC now owns 1,230 shares of the semiconductor company’s stock worth $288,000 after buying an additional 59 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Nova by 89.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 165 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 78 shares in the last quarter. Signaturefd LLC increased its position in shares of Nova by 15.9% in the 2nd quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock worth $180,000 after purchasing an additional 105 shares during the last quarter. Quarry LP raised its stake in shares of Nova by 438.5% in the 3rd quarter. Quarry LP now owns 140 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 114 shares in the last quarter. Finally, Morse Asset Management Inc lifted its position in shares of Nova by 3.2% during the third quarter. Morse Asset Management Inc now owns 4,030 shares of the semiconductor company’s stock worth $840,000 after purchasing an additional 125 shares during 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.