Tidal Investments LLC Raises Position in Nova Ltd. (NASDAQ:NVMI)

Tidal Investments LLC increased its position in Nova Ltd. (NASDAQ:NVMI) by 4.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,142 shares of the semiconductor company’s stock after acquiring an additional 661 shares during the quarter. Tidal Investments LLC owned about 0.05% of Nova worth $3,155,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP grew its position in shares of Nova by 438.5% in the third quarter. Quarry LP now owns 140 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 114 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Nova by 89.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 165 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 78 shares during the period. Employees Retirement System of Texas purchased a new position in Nova during the 2nd quarter valued at about $68,000. Signaturefd LLC increased its position in shares of Nova by 15.9% during the second quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock valued at $180,000 after buying an additional 105 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Nova during the second quarter valued at about $211,000. Institutional investors own 82.99% of the company’s stock.

Analysts Set New Price Targets

NVMI has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a research note on Friday, November 8th. Benchmark raised their price target on shares of Nova from $240.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Citigroup cut shares of Nova from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $273.00 to $224.00 in a report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.80.

Nova Price Performance

NVMI stock opened at $188.33 on Friday. The firm has a 50 day simple moving average of $190.01 and a two-hundred day simple moving average of $207.21. The stock has a market cap of $5.47 billion, a PE ratio of 35.14, a P/E/G ratio of 1.81 and a beta of 1.44. Nova Ltd. has a one year low of $128.74 and a one year high of $247.21.

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.