Assenagon Asset Management S.A. Reduces Holdings in Nova Ltd. (NASDAQ:NVMI)

Assenagon Asset Management S.A. cut its stake in Nova Ltd. (NASDAQ:NVMI) by 29.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 117,845 shares of the semiconductor company’s stock after selling 49,014 shares during the period. Assenagon Asset Management S.A. owned about 0.41% of Nova worth $23,258,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in shares of Nova by 12.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 9,153 shares of the semiconductor company’s stock valued at $2,147,000 after purchasing an additional 993 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Nova by 29.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,683 shares of the semiconductor company’s stock valued at $864,000 after buying an additional 834 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Nova in the second quarter valued at approximately $316,000. Sei Investments Co. increased its holdings in shares of Nova by 10.8% in the 2nd quarter. Sei Investments Co. now owns 142,312 shares of the semiconductor company’s stock valued at $33,376,000 after acquiring an additional 13,889 shares during the period. Finally, Evergreen Capital Management LLC raised its position in Nova by 5.0% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,230 shares of the semiconductor company’s stock valued at $288,000 after purchasing an additional 59 shares during the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Nova Trading Up 1.1 %

Shares of NVMI stock opened at $244.91 on Friday. The stock has a 50 day simple moving average of $197.46 and a 200-day simple moving average of $204.28. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 45.69, a price-to-earnings-growth ratio of 1.81 and a beta of 1.42. Nova Ltd. has a 12-month low of $135.27 and a 12-month high of $249.01.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Nova in a research note on Friday, November 8th. Benchmark boosted their price target on Nova from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Citigroup raised Nova from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $226.00 to $240.00 in a research report on Monday, January 6th. Finally, Cantor Fitzgerald initiated coverage on Nova in a report on Monday, January 13th. They issued an “overweight” rating and a $275.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Nova has an average rating of “Moderate Buy” and an average target price of $238.33.

Nova 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.