Nova Ltd. (NASDAQ:NVMI) Receives Consensus Rating of “Moderate Buy” from Analysts

Nova Ltd. (NASDAQ:NVMI) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $226.80.

A number of equities analysts have recently issued reports on NVMI shares. Benchmark raised their price target on Nova from $215.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Citigroup lowered shares of Nova from a “buy” rating to a “neutral” rating and reduced their price target for the company from $273.00 to $224.00 in a research report on Monday, September 16th.

Nova Trading Up 2.3 %

Shares of Nova stock opened at $221.56 on Thursday. The business’s 50-day moving average price is $210.49 and its 200-day moving average price is $206.24. The firm has a market capitalization of $6.44 billion, a PE ratio of 51.05, a price-to-earnings-growth ratio of 2.08 and a beta of 1.46. Nova has a 12 month low of $90.59 and a 12 month high of $247.21.

Nova (NASDAQ:NVMI) last issued its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.61 EPS 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 period in the prior year, the firm posted $0.97 earnings per share. The company’s quarterly revenue was up 27.8% compared to the same quarter last year. As a group, analysts predict that Nova will post 5.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nova

Hedge funds and other institutional investors have recently bought and sold shares of the business. Employees Retirement System of Texas acquired a new stake in Nova during the second quarter valued at $68,000. FSC Wealth Advisors LLC purchased a new position in shares of Nova during the 2nd quarter worth $79,000. Signaturefd LLC increased its holdings in Nova by 15.9% in the 2nd quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock valued at $180,000 after purchasing an additional 105 shares during the last quarter. OLD National Bancorp IN acquired a new stake in shares of Nova in the second quarter valued at $205,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Nova in the 2nd quarter valued at $211,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

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.