Benchmark Cuts Nova (NASDAQ:NVMI) Price Target to $280.00

Nova (NASDAQ:NVMI) had its target price reduced by Benchmark from $295.00 to $280.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other research firms also recently issued reports on NVMI. Needham & Company LLC restated a “hold” rating on shares of Nova in a report on Friday, February 14th. Bank of America dropped their target price on shares of Nova from $310.00 to $248.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Finally, Cantor Fitzgerald dropped their price target on shares of Nova from $315.00 to $300.00 and set an “overweight” rating for the company in a research report on Friday, March 14th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Nova currently has an average rating of “Moderate Buy” and an average price target of $269.60.

Nova Trading Down 1.7%

Nova stock opened at $183.52 on Friday. Nova has a 52 week low of $154.00 and a 52 week high of $289.90. The stock has a fifty day moving average price of $192.81 and a 200 day moving average price of $207.13. The firm has a market capitalization of $5.37 billion, a P/E ratio of 31.97, a PEG ratio of 2.55 and a beta of 1.66.

Nova (NASDAQ:NVMI) last posted its earnings results on Thursday, May 8th. The semiconductor company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.10. The business had revenue of $213.36 million for the quarter, compared to analyst estimates of $210.10 million. Nova had a net margin of 27.33% and a return on equity of 22.33%. The business’s quarterly revenue was up 50.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.39 EPS. As a group, equities analysts predict that Nova will post 7.52 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NVMI. ASR Vermogensbeheer N.V. bought a new position in shares of Nova during the first quarter worth approximately $26,000. Steward Partners Investment Advisory LLC grew its position in shares of Nova by 24.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 401 shares of the semiconductor company’s stock valued at $79,000 after buying an additional 78 shares during the last quarter. Quarry LP boosted its stake in shares of Nova by 187.1% in the 4th quarter. Quarry LP now owns 402 shares of the semiconductor company’s stock valued at $79,000 after purchasing an additional 262 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Nova during the 4th quarter valued at about $112,000. Finally, Quadrant Capital Group LLC grew its holdings in Nova by 5.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,030 shares of the semiconductor company’s stock worth $203,000 after purchasing an additional 51 shares during the period. 82.99% of the stock is currently owned by institutional investors.

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.