Nova Ltd. (NASDAQ:NVMI) Receives Average Recommendation of “Moderate Buy” from Analysts

Nova Ltd. (NASDAQ:NVMI) has been given an average recommendation of “Moderate Buy” by the six brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $227.80.

Several equities analysts have recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Nova in a report on Friday, November 8th. Citigroup cut Nova from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $273.00 to $224.00 in a report on Monday, September 16th. Finally, Benchmark lifted their target price on shares of Nova from $240.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 8th.

Hedge Funds Weigh In On Nova

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

Nova Trading Down 1.2 %

NASDAQ NVMI opened at $200.05 on Tuesday. The firm’s fifty day simple moving average is $189.09 and its two-hundred day simple moving average is $205.92. Nova has a 12-month low of $128.74 and a 12-month high of $247.21. The firm has a market capitalization of $5.81 billion, a P/E ratio of 37.32, a P/E/G ratio of 1.78 and a beta of 1.44.

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.