Nova (NASDAQ:NVMI) Rating Increased to Buy at Citigroup

Citigroup upgraded shares of Nova (NASDAQ:NVMI) from a neutral rating to a buy rating in a research report report published on Monday, Marketbeat reports. Citigroup currently has $240.00 price target on the semiconductor company’s stock, up from their previous price target of $226.00.

A number of other research firms have also commented on NVMI. Benchmark raised their price target 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Nova presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.00.

Nova Price Performance

Shares of NASDAQ NVMI opened at $219.71 on Monday. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of 40.99, a P/E/G ratio of 1.78 and a beta of 1.42. The stock’s fifty day moving average price is $191.52 and its two-hundred day moving average price is $204.11. Nova has a one year low of $129.12 and a one year high of $247.21.

Institutional Investors Weigh In On Nova

Several institutional investors and hedge funds have recently bought and sold shares of NVMI. Quantbot Technologies LP raised its position in shares of Nova by 131.0% in the 3rd quarter. Quantbot Technologies LP now owns 13,540 shares of the semiconductor company’s stock valued at $2,821,000 after buying an additional 7,678 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd increased its stake in Nova by 74.6% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,281,869 shares of the semiconductor company’s stock valued at $267,487,000 after acquiring an additional 547,833 shares during the last quarter. Two Sigma Advisers LP raised its position in Nova by 121.9% during the third quarter. Two Sigma Advisers LP now owns 145,100 shares of the semiconductor company’s stock valued at $30,230,000 after purchasing an additional 79,700 shares in the last quarter. LMR Partners LLP bought a new stake in Nova during the third quarter worth $15,669,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Nova in the 3rd quarter valued at $967,000. 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.