JPMorgan Chase & Co. Boosts Stake in Nova Ltd. (NASDAQ:NVMI)

JPMorgan Chase & Co. boosted its stake in shares of Nova Ltd. (NASDAQ:NVMI) by 253.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 35,327 shares of the semiconductor company’s stock after buying an additional 25,345 shares during the quarter. JPMorgan Chase & Co.’s holdings in Nova were worth $7,360,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Quantbot Technologies LP increased its stake in Nova by 131.0% in the 3rd quarter. Quantbot Technologies LP now owns 13,540 shares of the semiconductor company’s stock worth $2,821,000 after buying an additional 7,678 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Nova by 74.6% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,281,869 shares of the semiconductor company’s stock worth $267,487,000 after acquiring an additional 547,833 shares during the period. Two Sigma Advisers LP grew its position in shares of Nova by 121.9% during the third quarter. Two Sigma Advisers LP now owns 145,100 shares of the semiconductor company’s stock worth $30,230,000 after purchasing an additional 79,700 shares in the last quarter. LMR Partners LLP purchased a new stake in shares of Nova during the third quarter worth about $15,669,000. Finally, Quadrature Capital Ltd purchased a new position in Nova in the 3rd quarter worth approximately $967,000. Institutional investors own 82.99% of the company’s stock.

Wall Street Analysts Forecast Growth

NVMI has been the topic of several research analyst reports. Benchmark boosted their price target on shares of Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Cantor Fitzgerald started coverage on Nova in a research report on Monday. They issued an “overweight” rating and a $275.00 target price on the stock. Needham & Company LLC restated a “hold” rating on shares of Nova in a report on Friday, November 8th. Finally, Citigroup raised Nova from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $226.00 to $240.00 in a report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $238.33.

Nova Trading Up 5.1 %

Shares of Nova stock opened at $228.92 on Wednesday. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 42.71, a PEG ratio of 1.78 and a beta of 1.42. Nova Ltd. has a 12-month low of $129.39 and a 12-month high of $247.21. The firm’s 50 day simple moving average is $194.97 and its two-hundred day simple moving average is $203.72.

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.