Creative Planning Has $837,000 Stock Position in Nova Ltd. (NASDAQ:NVMI)

Creative Planning increased its stake in Nova Ltd. (NASDAQ:NVMI) by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,567 shares of the semiconductor company’s stock after acquiring an additional 155 shares during the quarter. Creative Planning’s holdings in Nova were worth $837,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVMI. Employees Retirement System of Texas acquired a new position in shares of Nova in the second quarter worth approximately $68,000. FSC Wealth Advisors LLC acquired a new position in shares of Nova in the second quarter worth approximately $79,000. Signaturefd LLC lifted its stake in shares of Nova by 15.9% in 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 period. Russell Investments Group Ltd. lifted its stake in Nova by 46.2% in the first quarter. Russell Investments Group Ltd. now owns 1,038 shares of the semiconductor company’s stock valued at $184,000 after buying an additional 328 shares during the period. Finally, OLD National Bancorp IN acquired a new position in Nova in the second quarter valued at approximately $205,000. 82.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NVMI has been the topic of several recent analyst reports. Citigroup lowered 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 note on Monday, September 16th. Benchmark upped their target price on Nova from $215.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Nova presently has an average rating of “Moderate Buy” and a consensus price target of $226.80.

Nova Trading Up 3.1 %

Shares of Nova stock opened at $216.49 on Friday. The stock has a fifty day simple moving average of $208.71 and a 200 day simple moving average of $205.31. Nova Ltd. has a 12-month low of $90.59 and a 12-month high of $247.21. The company has a market capitalization of $6.29 billion, a P/E ratio of 45.01, a price-to-earnings-growth ratio of 2.08 and a beta of 1.46.

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