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

Nova Ltd. (NASDAQ:NVMI) has received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $238.33.

NVMI has been the subject of a number of research reports. Benchmark lifted their price objective on Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Nova in a research report on Friday, November 8th. Citigroup upgraded shares of Nova from a “neutral” rating to a “buy” rating and increased their price objective for the company from $226.00 to $240.00 in a report on Monday, January 6th. Finally, Cantor Fitzgerald started coverage on shares of Nova in a research note on Monday, January 13th. They issued an “overweight” rating and a $275.00 price objective on the stock.

Nova Stock Performance

NASDAQ NVMI opened at $244.91 on Friday. The stock has a market capitalization of $7.11 billion, a P/E ratio of 45.69, a price-to-earnings-growth ratio of 1.81 and a beta of 1.42. Nova has a 52 week low of $135.27 and a 52 week high of $249.01. The stock has a fifty day moving average of $197.46 and a 200-day moving average of $204.28.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Evergreen Capital Management LLC increased its stake in Nova by 5.0% in the second quarter. Evergreen Capital Management LLC now owns 1,230 shares of the semiconductor company’s stock valued at $288,000 after purchasing an additional 59 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Nova by 89.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 165 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 78 shares during the period. Quarry LP increased its position in shares of Nova by 438.5% in the 3rd quarter. Quarry LP now owns 140 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 114 shares in the last quarter. Morse Asset Management Inc raised its stake in Nova by 3.2% during the 3rd quarter. Morse Asset Management Inc now owns 4,030 shares of the semiconductor company’s stock worth $840,000 after buying an additional 125 shares during the period. Finally, TFB Advisors LLC lifted its holdings in Nova by 9.0% during the third quarter. TFB Advisors LLC now owns 1,848 shares of the semiconductor company’s stock worth $385,000 after acquiring an additional 152 shares in the last quarter. Institutional investors own 82.99% of the company’s stock.

About Nova

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.