Nova (NASDAQ:NVMI) Shares Gap Down to $202.15

Nova Ltd. (NASDAQ:NVMI) gapped down before the market opened on Thursday . The stock had previously closed at $202.15, but opened at $197.98. Nova shares last traded at $194.60, with a volume of 50,724 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NVMI shares. Bank of America boosted their price target on Nova from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Evercore ISI started coverage on Nova in a report on Tuesday, April 16th. They set an “outperform” rating and a $210.00 price target for the company. Jefferies Financial Group assumed coverage on shares of Nova in a research report on Monday, May 13th. They set a “buy” rating and a $240.00 price objective on the stock. Benchmark lifted their target price on shares of Nova from $187.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Nova in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $221.25.

Nova Stock Up 0.9 %

The firm’s fifty day moving average price is $177.08 and its two-hundred day moving average price is $151.23. The stock has a market capitalization of $5.70 billion, a PE ratio of 45.21, a PEG ratio of 2.60 and a beta of 1.40.

Nova (NASDAQ:NVMI) last issued its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.29. The business had revenue of $141.80 million for the quarter, compared to the consensus estimate of $136.78 million. Nova had a return on equity of 19.89% and a net margin of 26.26%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.12 earnings per share. As a group, analysts predict that Nova Ltd. will post 5.21 EPS for the current year.

Institutional Investors Weigh In On Nova

Large investors have recently modified their holdings of the business. Vancity Investment Management Ltd boosted its stake in Nova by 1.9% in the 1st quarter. Vancity Investment Management Ltd now owns 4,969 shares of the semiconductor company’s stock worth $881,000 after purchasing an additional 95 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Nova by 20.6% in the third quarter. Signaturefd LLC now owns 672 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 115 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in shares of Nova by 12.0% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 2,215 shares of the semiconductor company’s stock worth $249,000 after purchasing an additional 237 shares during the last quarter. Bank Hapoalim BM lifted its holdings in shares of Nova by 13.1% during the fourth quarter. Bank Hapoalim BM now owns 2,166 shares of the semiconductor company’s stock worth $298,000 after purchasing an additional 251 shares during the period. Finally, Asset Dedication LLC acquired a new position in Nova in the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors 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.