Analysts Set Nova Ltd. (NASDAQ:NVMI) Target Price at $246.67

by · The Markets Daily

Shares of Nova Ltd. (NASDAQ:NVMI – Get Free Report) have earned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $246.67.

A number of equities analysts recently commented on the company. Benchmark lifted their price target on Nova from $245.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Needham & Company LLC reiterated a “hold” rating on shares of Nova in a report on Friday, February 14th. Citigroup upgraded Nova from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $226.00 to $240.00 in a report on Monday, January 6th. Finally, Cantor Fitzgerald initiated coverage on shares of Nova in a research report on Monday, January 13th. They set an “overweight” rating and a $275.00 price objective for the company.

View Our Latest Research Report on NVMI

Institutional Investors Weigh In On Nova

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wasatch Advisors LP raised its position in shares of Nova by 49.3% in the fourth quarter. Wasatch Advisors LP now owns 2,411,677 shares of the semiconductor company’s stock valued at $474,980,000 after buying an additional 796,629 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd raised its position in Nova by 7.9% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,383,339 shares of the semiconductor company’s stock valued at $272,517,000 after purchasing an additional 101,470 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in Nova by 7.6% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,370,985 shares of the semiconductor company’s stock valued at $270,015,000 after purchasing an additional 97,000 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in Nova by 1.0% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,169,625 shares of the semiconductor company’s stock valued at $230,358,000 after purchasing an additional 11,915 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Nova by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,047,782 shares of the semiconductor company’s stock valued at $205,985,000 after purchasing an additional 14,667 shares in the last quarter. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Nova Price Performance

Shares of NASDAQ NVMI opened at $215.22 on Friday. Nova has a fifty-two week low of $158.00 and a fifty-two week high of $289.90. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 37.49, a PEG ratio of 2.55 and a beta of 1.46. The business has a 50-day moving average of $239.98 and a 200-day moving average of $211.36.

Nova (NASDAQ:NVMI – Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The semiconductor company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.04). Nova had a return on equity of 22.33% and a net margin of 27.33%. The business had revenue of $194.77 million for the quarter, compared to the consensus estimate of $186.50 million. On average, sell-side analysts expect that Nova will post 7.52 EPS for the current year.

Nova Company Profile

(Get Free Report

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.

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