Nova’s (NVMI) Overweight Rating Reaffirmed at Cantor Fitzgerald

Nova (NASDAQ:NVMI)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a research note issued on Tuesday, MarketBeat.com reports. They currently have a $300.00 target price on the semiconductor company’s stock, up from their previous target price of $250.00. Cantor Fitzgerald’s price target would indicate a potential upside of 17.49% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. Wall Street Zen downgraded shares of Nova from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Bank of America lifted their price target on shares of Nova from $250.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday. Citigroup dropped their price objective on shares of Nova from $290.00 to $280.00 and set a “buy” rating for the company in a report on Friday, May 9th. Finally, Benchmark cut their price objective on Nova from $295.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Nova presently has a consensus rating of “Moderate Buy” and a consensus price target of $282.50.

Nova Stock Performance

Shares of NVMI stock opened at $255.35 on Tuesday. The stock has a fifty day simple moving average of $203.31 and a two-hundred day simple moving average of $212.58. The firm has a market capitalization of $7.51 billion, a PE ratio of 38.57, a PEG ratio of 2.18 and a beta of 1.61. Nova has a 52-week low of $154.00 and a 52-week high of $289.90.

Nova (NASDAQ:NVMI) last released its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.10. Nova had a return on equity of 23.98% and a net margin of 28.46%. The firm had revenue of $213.36 million during the quarter, compared to analyst estimates of $210.10 million. During the same quarter in the prior year, the company posted $1.39 earnings per share. The business’s quarterly revenue was up 50.5% compared to the same quarter last year. On average, sell-side analysts forecast that Nova will post 7.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Nova

Several large investors have recently bought and sold shares of the business. ASR Vermogensbeheer N.V. bought a new position in Nova during the first quarter valued at $26,000. Advisors Asset Management Inc. raised its position in shares of Nova by 51.6% during the 1st quarter. Advisors Asset Management Inc. now owns 376 shares of the semiconductor company’s stock valued at $69,000 after buying an additional 128 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Nova by 24.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 401 shares of the semiconductor company’s stock valued at $79,000 after buying an additional 78 shares in the last quarter. Quarry LP lifted its holdings in shares of Nova by 187.1% in the 4th quarter. Quarry LP now owns 402 shares of the semiconductor company’s stock valued at $79,000 after acquiring an additional 262 shares during the last quarter. Finally, Flaharty Asset Management LLC purchased a new position in Nova in the first quarter worth about $92,000. Institutional investors own 82.99% of the company’s stock.

Nova Company 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.