Swiss National Bank Cuts Stock Position in Nova Ltd. (NASDAQ:NVMI)

Swiss National Bank decreased its holdings in Nova Ltd. (NASDAQ:NVMI) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,052 shares of the semiconductor company’s stock after selling 476 shares during the quarter. Swiss National Bank owned 0.20% of Nova worth $11,975,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Employees Retirement System of Texas purchased a new position in Nova in the 2nd quarter valued at approximately $68,000. FSC Wealth Advisors LLC acquired a new position in Nova during the 2nd quarter worth $79,000. Signaturefd LLC increased its holdings in Nova by 15.9% during the 2nd quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock worth $180,000 after purchasing an additional 105 shares during the period. Russell Investments Group Ltd. raised its position in Nova by 46.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,038 shares of the semiconductor company’s stock valued at $184,000 after purchasing an additional 328 shares in the last quarter. Finally, OLD National Bancorp IN purchased a new position in shares of Nova in the 2nd quarter valued at about $205,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NVMI shares. Needham & Company LLC restated a “hold” rating on shares of Nova in a research note on Friday, November 8th. Citigroup lowered shares of Nova from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $273.00 to $224.00 in a report on Monday, September 16th. Finally, Benchmark lifted their price objective on shares of Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Nova presently has an average rating of “Moderate Buy” and an average target price of $227.80.

Nova Price Performance

Shares of NVMI opened at $179.76 on Friday. Nova Ltd. has a 1-year low of $123.44 and a 1-year high of $247.21. The stock has a market cap of $5.22 billion, a PE ratio of 33.54, a price-to-earnings-growth ratio of 1.70 and a beta of 1.47. The firm has a fifty day moving average price of $194.56 and a 200 day moving average price of $208.69.

Nova 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.