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

Shares of Nova Ltd. (NASDAQ:NVMIGet Free Report) have been assigned an average rating of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $277.00.

A number of research analysts have recently issued reports on NVMI shares. Benchmark lowered their price target on Nova from $295.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Bank of America lowered their price target on Nova from $310.00 to $248.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Citigroup lowered their price target on Nova from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Cantor Fitzgerald lowered their price target on Nova from $315.00 to $300.00 and set an “overweight” rating on the stock in a report on Friday, March 14th. Finally, Wall Street Zen downgraded Nova from a “buy” rating to a “hold” rating in a report on Friday, May 30th.

Read Our Latest Stock Analysis on Nova

Nova Trading Up 3.7%

Nova stock opened at $230.44 on Tuesday. The business’s fifty day simple moving average is $196.16 and its two-hundred day simple moving average is $210.56. Nova has a 12 month low of $154.00 and a 12 month high of $289.90. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 40.15, a price-to-earnings-growth ratio of 2.55 and a beta of 1.61.

Nova (NASDAQ:NVMIGet Free Report) last released its earnings results on Thursday, May 8th. The semiconductor company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.08 by $0.10. The business had revenue of $213.36 million for the quarter, compared to the consensus estimate of $210.10 million. Nova had a return on equity of 22.33% and a net margin of 27.33%. The company’s revenue for the quarter was up 50.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.39 earnings per share. On average, equities research analysts predict that Nova will post 7.52 EPS for the current year.

Institutional Trading of Nova

Hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. boosted its stake in Nova by 0.8% during the fourth quarter. Alliancebernstein L.P. now owns 5,688 shares of the semiconductor company’s stock valued at $1,120,000 after buying an additional 44 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Nova by 3.6% in the 4th quarter. NewEdge Advisors LLC now owns 1,339 shares of the semiconductor company’s stock valued at $264,000 after purchasing an additional 47 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Nova by 5.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,030 shares of the semiconductor company’s stock valued at $203,000 after purchasing an additional 51 shares during the last quarter. Advisory Services Network LLC lifted its stake in shares of Nova by 5.0% in the 4th quarter. Advisory Services Network LLC now owns 1,149 shares of the semiconductor company’s stock valued at $226,000 after purchasing an additional 55 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. lifted its stake in shares of Nova by 1.3% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 4,742 shares of the semiconductor company’s stock valued at $935,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Nova Company Profile

(Get 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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Analyst Recommendations for Nova (NASDAQ:NVMI)

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