Jennison Associates LLC Purchases 719 Shares of Nova Ltd. (NASDAQ:NVMI)

Jennison Associates LLC lifted its position in shares of Nova Ltd. (NASDAQ:NVMIFree Report) by 12.7% during the first quarter, HoldingsChannel reports. The firm owned 6,395 shares of the semiconductor company’s stock after buying an additional 719 shares during the quarter. Jennison Associates LLC’s holdings in Nova were worth $1,134,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NVMI. Qube Research & Technologies Ltd grew its stake in Nova by 259.4% in the third quarter. Qube Research & Technologies Ltd now owns 17,855 shares of the semiconductor company’s stock valued at $2,008,000 after acquiring an additional 12,887 shares during the period. Schonfeld Strategic Advisors LLC grew its position in shares of Nova by 51.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 6,379 shares of the semiconductor company’s stock valued at $717,000 after purchasing an additional 2,179 shares during the period. American Century Companies Inc. increased its stake in Nova by 19.8% during the 3rd quarter. American Century Companies Inc. now owns 317,133 shares of the semiconductor company’s stock worth $35,658,000 after purchasing an additional 52,460 shares in the last quarter. Vanguard Group Inc. increased its stake in Nova by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 959,065 shares of the semiconductor company’s stock worth $107,837,000 after purchasing an additional 13,988 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Nova in the fourth quarter valued at approximately $318,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

Nova Price Performance

Shares of NASDAQ:NVMI opened at $244.49 on Wednesday. Nova Ltd. has a one year low of $90.59 and a one year high of $246.34. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 56.33, a PEG ratio of 3.49 and a beta of 1.47. The firm has a 50 day simple moving average of $214.45 and a 200 day simple moving average of $178.98.

Nova (NASDAQ:NVMIGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.29. The business had revenue of $141.80 million for the quarter, compared to analyst estimates of $136.78 million. Nova had a return on equity of 19.89% and a net margin of 26.26%. Nova’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS. As a group, analysts expect that Nova Ltd. will post 4.79 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NVMI shares. Benchmark increased their price objective on Nova from $187.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Needham & Company LLC reiterated a “hold” rating on shares of Nova in a report on Friday, May 10th. Evercore ISI started coverage on Nova in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $210.00 price target for the company. Jefferies Financial Group started coverage on Nova in a research note on Monday, May 13th. They set a “buy” rating and a $240.00 price objective on the stock. Finally, Bank of America raised their target price on shares of Nova from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $221.25.

Check Out Our Latest Report on Nova

About Nova

(Free Report)

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.

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Institutional Ownership by Quarter for Nova (NASDAQ:NVMI)

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