Deutsche Bank AG Purchases 24,771 Shares of Nova Ltd. (NASDAQ:NVMI)

Deutsche Bank AG boosted its stake in shares of Nova Ltd. (NASDAQ:NVMI) by 35.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,555 shares of the semiconductor company’s stock after acquiring an additional 24,771 shares during the quarter. Deutsche Bank AG owned 0.33% of Nova worth $17,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. ASR Vermogensbeheer N.V. purchased a new stake in Nova during the 1st quarter valued at about $26,000. Quarry LP boosted its holdings in Nova by 187.1% during 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 period. Advisory Services Network LLC boosted its holdings in Nova by 5.0% during the 4th quarter. Advisory Services Network LLC now owns 1,149 shares of the semiconductor company’s stock valued at $226,000 after acquiring an additional 55 shares during the period. Wellington Management Group LLP purchased a new stake in Nova during the 4th quarter valued at about $237,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Nova by 7.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,269 shares of the semiconductor company’s stock valued at $234,000 after acquiring an additional 87 shares during the period. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NVMI has been the subject of several analyst reports. Citigroup dropped their target price on Nova from $290.00 to $280.00 and set a “buy” rating for the company in a report on Friday, May 9th. Benchmark dropped their target price on Nova from $295.00 to $280.00 and set a “buy” rating for the company in a report on Friday, May 9th. Bank of America increased their price objective on Nova from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, June 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price objective (up previously from $250.00) on shares of Nova in a report on Tuesday, June 24th. Finally, Wall Street Zen cut Nova from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $282.50.

Nova Stock Performance

NASDAQ NVMI opened at $274.43 on Thursday. Nova Ltd. has a fifty-two week low of $153.99 and a fifty-two week high of $291.99. The stock has a 50 day simple moving average of $260.62 and a two-hundred day simple moving average of $227.48. The stock has a market cap of $8.07 billion, a P/E ratio of 37.34, a price-to-earnings-growth ratio of 2.26 and a beta of 1.67.

Nova (NASDAQ:NVMI) last announced its earnings results on Thursday, August 7th. The semiconductor company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.15. Nova had a return on equity of 24.36% and a net margin of 29.10%. The firm had revenue of $219.99 million during the quarter, compared to analyst estimates of $214.95 million. During the same quarter in the prior year, the company earned $1.61 EPS. The business’s revenue was up 40.2% compared to the same quarter last year. Sell-side analysts predict that Nova Ltd. will post 7.52 earnings per share for the current year.

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.