Nova Ltd. (NASDAQ:NVMI) Given Average Rating of “Moderate Buy” by Brokerages

Nova Ltd. (NASDAQ:NVMI) has received an average rating of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $221.25.

NVMI has been the topic of several analyst reports. Benchmark lifted their target price on shares of Nova from $187.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Evercore ISI initiated coverage on shares of Nova in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $210.00 target price on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a research note on Friday, May 10th. Bank of America lifted their target price on shares of Nova from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, Jefferies Financial Group initiated coverage on shares of Nova in a research note on Monday, May 13th. They issued a “buy” rating and a $240.00 target price on the stock.

Nova Stock Performance

Shares of NVMI opened at $232.85 on Tuesday. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of 53.65, a PEG ratio of 3.41 and a beta of 1.47. Nova has a fifty-two week low of $90.59 and a fifty-two week high of $242.93. The firm has a 50 day moving average price of $207.71 and a 200-day moving average price of $175.29.

Nova (NASDAQ:NVMI) last announced its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.29. Nova had a net margin of 26.26% and a return on equity of 19.89%. The firm had revenue of $141.80 million during the quarter, compared to analyst estimates of $136.78 million. During the same period in the previous year, the business posted $1.12 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts predict that Nova will post 4.79 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vancity Investment Management Ltd grew its position in shares of Nova by 1.9% in the 1st quarter. Vancity Investment Management Ltd now owns 4,969 shares of the semiconductor company’s stock worth $881,000 after buying an additional 95 shares during the period. Bank Hapoalim BM grew its position in shares of Nova by 13.1% in the 4th quarter. Bank Hapoalim BM now owns 2,166 shares of the semiconductor company’s stock worth $298,000 after buying an additional 251 shares during the period. Russell Investments Group Ltd. grew its position in shares of Nova by 46.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,038 shares of the semiconductor company’s stock worth $184,000 after buying an additional 328 shares during the period. Edmond DE Rothschild Holding S.A. grew its position in shares of Nova by 6.2% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 5,622 shares of the semiconductor company’s stock worth $985,000 after buying an additional 330 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Nova by 15.1% in the 1st quarter. SG Americas Securities LLC now owns 2,661 shares of the semiconductor company’s stock worth $472,000 after buying an additional 349 shares during the period. 82.99% of the stock is owned by hedge funds and other institutional investors.

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.