Nova Ltd. (NASDAQ:NVMI) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its stake in Nova Ltd. (NASDAQ:NVMI) by 12.2% in the 2nd quarter, Holdings Channel reports. The firm owned 9,153 shares of the semiconductor company’s stock after purchasing an additional 993 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Nova were worth $2,147,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. increased its holdings in Nova by 25.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 12,207 shares of the semiconductor company’s stock valued at $2,863,000 after buying an additional 2,482 shares in the last quarter. Y.D. More Investments Ltd increased its stake in Nova by 2,733.2% in the 2nd quarter. Y.D. More Investments Ltd now owns 288,986 shares of the semiconductor company’s stock valued at $67,510,000 after purchasing an additional 278,786 shares in the last quarter. TD Asset Management Inc raised its holdings in Nova by 3.4% during the second quarter. TD Asset Management Inc now owns 4,176 shares of the semiconductor company’s stock worth $980,000 after purchasing an additional 136 shares during the last quarter. nVerses Capital LLC purchased a new stake in Nova during the second quarter worth $235,000. Finally, Van ECK Associates Corp boosted its position in Nova by 11.6% during the second quarter. Van ECK Associates Corp now owns 7,378 shares of the semiconductor company’s stock worth $1,730,000 after purchasing an additional 764 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Nova Stock Up 1.5 %

NASDAQ NVMI opened at $202.60 on Friday. Nova Ltd. has a fifty-two week low of $90.59 and a fifty-two week high of $247.21. The business has a fifty day moving average of $208.00 and a 200-day moving average of $204.77. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of 46.68, a price-to-earnings-growth ratio of 1.99 and a beta of 1.46.

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NVMI shares. Citigroup cut Nova from a “buy” rating to a “neutral” rating and dropped their price target for the company from $273.00 to $224.00 in a research report on Monday, September 16th. Benchmark raised their target price on shares of Nova from $215.00 to $240.00 and gave the company a “buy” rating in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Nova currently has an average rating of “Moderate Buy” and an average price target of $226.80.

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.