Nova (NASDAQ:NVMI) Receives New Coverage from Analysts at Evercore ISI

Evercore ISI started coverage on shares of Nova (NASDAQ:NVMI) in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The firm issued an outperform rating and a $210.00 target price on the semiconductor company’s stock.

Separately, Benchmark increased their price objective on shares of Nova from $150.00 to $187.00 and gave the company a buy rating in a research note on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Nova currently has a consensus rating of Moderate Buy and a consensus price target of $170.67.

Nova Price Performance

NASDAQ:NVMI opened at $175.99 on Tuesday. The stock has a market cap of $5.05 billion, a P/E ratio of 41.12, a PEG ratio of 6.47 and a beta of 1.41. Nova has a one year low of $87.85 and a one year high of $190.51. The company has a fifty day moving average price of $171.91 and a 200 day moving average price of $140.14.

Nova (NASDAQ:NVMI) last announced its quarterly earnings data on Thursday, February 15th. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.14. Nova had a net margin of 26.32% and a return on equity of 20.55%. The company had revenue of $134.22 million during the quarter, compared to analysts’ expectations of $128.00 million. As a group, equities research analysts anticipate that Nova will post 4.87 EPS for the current year.

Institutional Investors Weigh In On Nova

A number of hedge funds have recently made changes to their positions in NVMI. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Nova by 74.9% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 604,977 shares of the semiconductor company’s stock worth $83,202,000 after purchasing an additional 259,021 shares in the last quarter. Invesco Ltd. increased its position in shares of Nova by 118.1% during the 3rd quarter. Invesco Ltd. now owns 428,132 shares of the semiconductor company’s stock worth $48,139,000 after purchasing an additional 231,862 shares in the last quarter. Millennium Management LLC increased its position in shares of Nova by 262.1% during the 4th quarter. Millennium Management LLC now owns 230,497 shares of the semiconductor company’s stock worth $18,827,000 after purchasing an additional 166,836 shares in the last quarter. Sphera Funds Management LTD. acquired a new stake in shares of Nova during the 4th quarter worth about $18,135,000. Finally, Nuveen Asset Management LLC acquired a new stake in shares of Nova during the 4th quarter worth about $17,150,000. Institutional investors and hedge funds 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.