Nova Ltd. (NASDAQ:NVMI) Receives $264.60 Consensus Price Target from Analysts

Nova Ltd. (NASDAQ:NVMI) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $264.60.

NVMI has been the topic of a number of research reports. Cantor Fitzgerald decreased their price target on Nova from $315.00 to $300.00 and set an “overweight” rating on the stock in a research note on Friday, March 14th. 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 research report on Monday, January 6th. Benchmark upped their price objective on Nova from $245.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a research report on Friday, February 14th. Finally, Bank of America cut their price objective on Nova from $310.00 to $248.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th.

Nova Stock Performance

NVMI opened at $196.21 on Monday. Nova has a one year low of $154.00 and a one year high of $289.90. The stock has a market capitalization of $5.74 billion, a PE ratio of 34.18, a P/E/G ratio of 2.55 and a beta of 1.63. The business’s 50 day moving average price is $199.48 and its 200 day moving average price is $206.73.

Nova (NASDAQ:NVMI) last released its quarterly earnings data on Thursday, February 13th. The semiconductor company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.04). Nova had a net margin of 27.33% and a return on equity of 22.33%. The business had revenue of $194.77 million during the quarter, compared to analyst estimates of $186.50 million. As a group, equities research analysts forecast that Nova will post 7.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nova

Several institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its stake in Nova by 7.4% in the first quarter. Envestnet Asset Management Inc. now owns 7,825 shares of the semiconductor company’s stock valued at $1,442,000 after buying an additional 541 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Nova by 122.2% in the first quarter. Bank of New York Mellon Corp now owns 39,901 shares of the semiconductor company’s stock valued at $7,355,000 after buying an additional 21,941 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Nova by 3.7% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,212,485 shares of the semiconductor company’s stock valued at $223,497,000 after buying an additional 42,860 shares during the last quarter. Retirement Systems of Alabama purchased a new stake in Nova in the first quarter valued at approximately $1,957,000. Finally, Blue Trust Inc. lifted its stake in Nova by 33.3% in the first quarter. Blue Trust Inc. now owns 1,699 shares of the semiconductor company’s stock valued at $313,000 after buying an additional 424 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Nova Company 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.