Nova (NASDAQ:NVMI) Sets New 1-Year High – Here’s What Happened

Shares of Nova Ltd. (NASDAQ:NVMI) hit a new 52-week high during trading on Friday . The company traded as high as $249.01 and last traded at $242.33, with a volume of 196734 shares trading hands. The stock had previously closed at $232.66.

Analysts Set New Price Targets

A number of analysts recently commented on NVMI shares. Citigroup upgraded shares of Nova from a “neutral” rating to a “buy” rating and upped their price target for the company from $226.00 to $240.00 in a research note on Monday, January 6th. Cantor Fitzgerald started coverage on shares of Nova in a research note on Monday. They set an “overweight” rating and a $275.00 price target on the stock. Benchmark upped their price target on shares of Nova from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Nova in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $238.33.

Nova Stock Performance

The firm has a market capitalization of $7.04 billion, a PE ratio of 45.21, a PEG ratio of 1.81 and a beta of 1.42. The company’s 50 day simple moving average is $196.51 and its 200-day simple moving average is $204.19.

Institutional Trading of Nova

Several institutional investors and hedge funds have recently bought and sold shares of NVMI. Envestnet Asset Management Inc. lifted its stake in Nova by 12.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 9,153 shares of the semiconductor company’s stock worth $2,147,000 after purchasing an additional 993 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Nova by 45.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 645,203 shares of the semiconductor company’s stock valued at $151,319,000 after buying an additional 200,816 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Nova by 29.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,683 shares of the semiconductor company’s stock valued at $864,000 after buying an additional 834 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of Nova during the 2nd quarter valued at $316,000. Finally, Sei Investments Co. raised its position in shares of Nova by 10.8% during the 2nd quarter. Sei Investments Co. now owns 142,312 shares of the semiconductor company’s stock valued at $33,376,000 after buying an additional 13,889 shares in the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

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.