Nova Ltd. $NVMI Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in shares of Nova Ltd. (NASDAQ:NVMI) by 2.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 76,707 shares of the semiconductor company’s stock after selling 2,037 shares during the quarter. Principal Financial Group Inc.’s holdings in Nova were worth $24,520,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. increased its position in shares of Nova by 51.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 164 shares of the semiconductor company’s stock valued at $45,000 after acquiring an additional 56 shares during the period. Advisors Asset Management Inc. grew its stake in Nova by 51.6% during the 1st quarter. Advisors Asset Management Inc. now owns 376 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 128 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Nova by 62.5% in the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 100 shares during the period. Rexford Capital Inc. purchased a new position in shares of Nova in the second quarter worth about $138,000. Finally, Curated Wealth Partners LLC purchased a new position in shares of Nova in the second quarter worth about $208,000. 82.99% of the stock is owned by hedge funds and other institutional investors.

Nova Stock Performance

NASDAQ NVMI opened at $459.48 on Friday. The company has a current ratio of 4.58, a quick ratio of 4.00 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $13.51 billion, a price-to-earnings ratio of 60.06, a PEG ratio of 2.77 and a beta of 1.84. The stock has a 50-day moving average of $381.20 and a 200 day moving average of $325.28. Nova Ltd. has a twelve month low of $153.99 and a twelve month high of $507.27.

Analyst Upgrades and Downgrades

NVMI has been the topic of several research reports. Benchmark increased their price target on shares of Nova from $280.00 to $345.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Evercore upped their price objective on shares of Nova from $290.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Morgan Stanley initiated coverage on shares of Nova in a research note on Monday, December 1st. They issued an “equal weight” rating and a $335.00 price objective on the stock. Bank of America raised their target price on shares of Nova from $380.00 to $450.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nova in a report on Monday, December 22nd. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $348.57.

About Nova

Nova Measuring Instruments Ltd (NASDAQ: NVMI) develops and supplies advanced metrology and process control systems for the semiconductor manufacturing industry. The company’s core product line includes spectroscopic ellipsometry and scatterometry tools designed to measure film thickness, critical dimensions, overlay alignment and other key parameters that drive yield and performance in integrated circuit fabrication.

Founded in 1993 and headquartered in Rehovot, Israel, Nova Measuring Instruments has established itself as a critical partner to leading semiconductor foundries and device manufacturers.