Nova Ltd. (NASDAQ:NVMI) Receives $227.80 Average Price Target from Analysts

Nova Ltd. (NASDAQ:NVMI) has received an average rating of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $227.80.

A number of equities analysts recently issued reports on the stock. Citigroup downgraded shares of Nova from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $273.00 to $224.00 in a report on Monday, September 16th. Needham & Company LLC restated a “hold” rating on shares of Nova in a report on Friday, November 8th. Finally, Benchmark upped their target price on Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 8th.

Nova Stock Performance

Shares of NASDAQ NVMI opened at $183.76 on Friday. The firm’s 50 day moving average price is $192.51 and its 200-day moving average price is $208.34. Nova has a 52-week low of $124.42 and a 52-week high of $247.21. The company has a market cap of $5.34 billion, a PE ratio of 34.28, a P/E/G ratio of 1.73 and a beta of 1.47.

Institutional Investors Weigh In On Nova

Several institutional investors have recently modified their holdings of NVMI. Russell Investments Group Ltd. increased its stake in Nova by 46.2% in the 1st 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. Vanguard Group Inc. increased its position in Nova by 1.5% during the first quarter. Vanguard Group Inc. now owns 987,071 shares of the semiconductor company’s stock worth $175,087,000 after buying an additional 14,115 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Nova in the first quarter valued at approximately $2,589,000. Virtu Financial LLC purchased a new stake in shares of Nova in the first quarter valued at $536,000. Finally, Burney Co. purchased a new stake in Nova in the first quarter valued at approximately $211,000. 82.99% of the stock is owned by hedge funds and other institutional investors.

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.