Nova Ltd. (NASDAQ:NVMI) Receives $226.80 Average Price Target from Brokerages

by · The Markets Daily

Shares of Nova Ltd. (NASDAQ:NVMI – Get Free Report) have been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $226.80.

Several equities research analysts recently commented on the company. Benchmark increased their price objective on Nova from $215.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Citigroup cut Nova from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $273.00 to $224.00 in a research report on Monday, September 16th.

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Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Employees Retirement System of Texas purchased a new position in Nova in the second quarter worth about $68,000. FSC Wealth Advisors LLC purchased a new position in Nova in the second quarter worth about $79,000. Signaturefd LLC boosted its position in Nova by 15.9% in the second 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. Russell Investments Group Ltd. boosted its position in Nova by 46.2% in the first quarter. Russell Investments Group Ltd. now owns 1,038 shares of the semiconductor company’s stock worth $184,000 after purchasing an additional 328 shares during the last quarter. Finally, OLD National Bancorp IN purchased a new position in Nova in the second quarter worth about $205,000. 82.99% of the stock is owned by hedge funds and other institutional investors.

Nova Trading Down 5.1 %

NASDAQ NVMI opened at $188.57 on Thursday. Nova has a 12 month low of $90.59 and a 12 month high of $247.21. The stock has a market cap of $5.48 billion, a P/E ratio of 43.45, a P/E/G ratio of 2.08 and a beta of 1.46. The stock’s fifty day moving average price is $210.97 and its 200-day moving average price is $206.27.

Nova (NASDAQ:NVMI – Get Free Report) last released its earnings results on Thursday, August 8th. The semiconductor company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.43. Nova had a return on equity of 20.76% and a net margin of 27.38%. The firm had revenue of $156.86 million for the quarter, compared to analysts’ expectations of $148.12 million. During the same period in the prior year, the firm posted $0.97 earnings per share. The company’s quarterly revenue was up 27.8% on a year-over-year basis. As a group, analysts forecast that Nova will post 5.63 earnings per share for the current fiscal year.

Nova Company Profile

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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.

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