ARK Investment Management LLC Has $1.90 Million Stock Position in Nova Ltd. (NASDAQ:NVMI)

ARK Investment Management LLC cut its holdings in shares of Nova Ltd. (NASDAQ:NVMI) by 1.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,626 shares of the semiconductor company’s stock after selling 165 shares during the quarter. ARK Investment Management LLC’s holdings in Nova were worth $1,896,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Meitav Investment House Ltd. raised its stake in shares of Nova by 16.3% during the third quarter. Meitav Investment House Ltd. now owns 647,722 shares of the semiconductor company’s stock worth $135,513,000 after buying an additional 90,883 shares during the last quarter. Van ECK Associates Corp grew its holdings in Nova by 3.1% during the 3rd quarter. Van ECK Associates Corp now owns 7,604 shares of the semiconductor company’s stock worth $1,584,000 after acquiring an additional 226 shares during the period. Olympiad Research LP bought a new stake in shares of Nova during the 3rd quarter valued at $617,000. TFB Advisors LLC raised its position in shares of Nova by 9.0% during the 3rd quarter. TFB Advisors LLC now owns 1,848 shares of the semiconductor company’s stock valued at $385,000 after acquiring an additional 152 shares during the last quarter. Finally, Lifestyle Asset Management Inc. acquired a new position in shares of Nova in the 3rd quarter valued at $257,000. Institutional investors own 82.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on NVMI. Citigroup raised Nova from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $226.00 to $240.00 in a research note on Monday, January 6th. Cantor Fitzgerald began coverage on Nova in a research report on Monday, January 13th. They set an “overweight” rating and a $275.00 target price for the company. Benchmark increased their price target on shares of Nova from $245.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Finally, Needham & Company LLC restated a “hold” rating on shares of Nova in a report on Friday, February 14th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Nova presently has an average rating of “Moderate Buy” and an average target price of $246.67.

Nova Price Performance

Shares of Nova stock opened at $252.65 on Thursday. The company has a market capitalization of $7.40 billion, a P/E ratio of 44.02, a price-to-earnings-growth ratio of 2.55 and a beta of 1.44. The business has a 50-day moving average of $233.41 and a two-hundred day moving average of $211.34. Nova Ltd. has a 1 year low of $158.00 and a 1 year high of $289.90.

Nova (NASDAQ:NVMI) last posted its earnings results on Thursday, February 13th. The semiconductor company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.04). Nova had a return on equity of 22.33% and a net margin of 27.33%. The business had revenue of $194.77 million for the quarter, compared to the consensus estimate of $186.50 million. On average, equities analysts anticipate that Nova Ltd. will post 7.52 EPS for the current fiscal year.

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.