Analysts Set Nova Ltd. (NASDAQ:NVMI) PT at $236.60

Shares of Nova Ltd. (NASDAQ:NVMI) have earned an average rating of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $226.80.

Several analysts recently issued reports on the stock. Benchmark boosted their target price on shares of Nova from $215.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Citigroup lowered shares of Nova from a “buy” rating to a “neutral” rating and cut their target price for the company from $273.00 to $224.00 in a research report on Monday.

Hedge Funds Weigh In On Nova

Hedge funds have recently modified their holdings of the company. Employees Retirement System of Texas bought a new position in shares of Nova during the second quarter worth $68,000. FSC Wealth Advisors LLC bought a new position in shares of Nova during the second quarter worth $79,000. Signaturefd LLC boosted its position in shares of Nova by 15.9% during the second quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock worth $180,000 after acquiring an additional 105 shares during the last quarter. OLD National Bancorp IN bought a new position in shares of Nova during the second quarter worth $205,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Nova during the second quarter worth $211,000. 82.99% of the stock is currently owned by institutional investors.

Nova Stock Up 2.9 %

Shares of NVMI stock opened at $194.71 on Friday. The firm has a market capitalization of $5.66 billion, a PE ratio of 44.86, a P/E/G ratio of 2.49 and a beta of 1.46. The company has a 50 day moving average price of $212.25 and a 200-day moving average price of $202.52. Nova has a 52 week low of $90.59 and a 52 week high of $247.21.

Nova (NASDAQ:NVMI) last announced its earnings results on Thursday, August 8th. The semiconductor company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.43. The company had revenue of $156.86 million during the quarter, compared to analyst estimates of $148.12 million. Nova had a net margin of 27.38% and a return on equity of 20.76%. The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.97 earnings per share. Analysts anticipate that Nova will post 5.63 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.