Quadrature Capital Ltd Sells 54,369 Shares of Nova Ltd. (NASDAQ:NVMI)

Quadrature Capital Ltd decreased its holdings in shares of Nova Ltd. (NASDAQ:NVMI) by 90.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,993 shares of the semiconductor company’s stock after selling 54,369 shares during the period. Quadrature Capital Ltd’s holdings in Nova were worth $1,062,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its stake in Nova by 46.2% during 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 during the last quarter. First Trust Direct Indexing L.P. purchased a new position in shares of Nova during the first quarter valued at approximately $252,000. Cerity Partners LLC bought a new stake in Nova during the fourth quarter worth $201,000. Duality Advisers LP purchased a new stake in Nova in the 1st quarter valued at $266,000. Finally, McLean Asset Management Corp bought a new position in Nova during the 1st quarter valued at $262,000. 82.99% of the stock is owned by institutional investors.

Nova Stock Performance

NASDAQ:NVMI traded up $1.42 during midday trading on Friday, reaching $198.60. 184,735 shares of the stock traded hands, compared to its average volume of 178,649. Nova Ltd. has a 12 month low of $90.59 and a 12 month high of $247.21. The stock has a market capitalization of $5.77 billion, a P/E ratio of 45.76, a PEG ratio of 2.89 and a beta of 1.47. The company has a fifty day moving average of $224.06 and a 200 day moving average of $187.14.

Nova (NASDAQ:NVMI) last posted its earnings results on Thursday, May 9th. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.29. The firm had revenue of $141.80 million for the quarter, compared to analysts’ expectations of $136.78 million. Nova had a return on equity of 19.89% and a net margin of 26.26%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.12 earnings per share. On average, analysts predict that Nova Ltd. will post 4.79 EPS for the current fiscal year.

Analysts Set New Price Targets

NVMI has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on shares of Nova in a report on Monday, May 13th. They issued a “buy” rating and a $240.00 target price for the company. Bank of America increased their price objective on shares of Nova from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a 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 on the stock. Finally, Citigroup upped their price objective on Nova from $223.00 to $273.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $231.60.

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.