Elevation Point Wealth Partners LLC Acquires New Position in Nova Ltd. $NVMI

Elevation Point Wealth Partners LLC acquired a new stake in Nova Ltd. (NASDAQ:NVMI) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,152 shares of the semiconductor company’s stock, valued at approximately $500,000.

Other large investors have also modified their holdings of the company. Royal Bank of Canada lifted its stake in shares of Nova by 660.4% in the first quarter. Royal Bank of Canada now owns 10,668 shares of the semiconductor company’s stock valued at $1,966,000 after purchasing an additional 9,265 shares during the period. Advisors Asset Management Inc. increased its position in shares of Nova by 51.6% in the first quarter. Advisors Asset Management Inc. now owns 376 shares of the semiconductor company’s stock valued at $69,000 after buying an additional 128 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Nova during the 2nd quarter worth $5,445,000. EverSource Wealth Advisors LLC boosted its position in shares of Nova by 62.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the semiconductor company’s stock worth $72,000 after buying an additional 100 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Nova in the 2nd quarter worth about $1,886,000. 82.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Citigroup raised their target price on shares of Nova from $520.00 to $595.00 and gave the company a “buy” rating in a report on Friday, May 15th. Barclays upped their price target on shares of Nova from $465.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Needham & Company LLC increased their price target on shares of Nova from $500.00 to $640.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Weiss Ratings cut shares of Nova from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, Morgan Stanley lifted their price objective on Nova from $494.00 to $540.00 and gave the stock an “equal weight” rating in a research report on Monday. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Nova currently has a consensus rating of “Moderate Buy” and a consensus target price of $551.25.

Insiders Place Their Bets

In other news, Director Eitan Oppenhaim sold 1,504 shares of Nova stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $519.48, for a total value of $781,297.92. Following the completion of the sale, the director owned 6,668 shares of the company’s stock, valued at $3,463,892.64. The trade was a 18.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sarit Sagiv sold 454 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $536.52, for a total value of $243,580.08. Following the completion of the transaction, the director owned 1,951 shares of the company’s stock, valued at $1,046,750.52. The trade was a 18.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 7,798 shares of company stock valued at $4,125,266. Insiders own 1.00% of the company’s stock.

Nova Price Performance

Nova stock opened at $451.99 on Thursday. The stock has a market capitalization of $14.36 billion, a P/E ratio of 56.36, a P/E/G ratio of 3.23 and a beta of 1.74. Nova Ltd. has a 12-month low of $232.73 and a 12-month high of $615.99. The firm’s 50-day moving average is $515.18 and its two-hundred day moving average is $466.75.

Nova (NASDAQ:NVMI) last posted its quarterly earnings data on Thursday, May 14th. The semiconductor company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.13. The business had revenue of $235.31 million during the quarter, compared to analyst estimates of $227.02 million. Nova had a net margin of 29.21% and a return on equity of 21.77%. The company’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.18 earnings per share. Nova has set its Q2 2026 guidance at 2.340-2.480 EPS. As a group, analysts forecast that Nova Ltd. will post 9.46 EPS for the current year.

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.