Nova Ltd. (NASDAQ:NVMI) Stake Cut by Eagle Ridge Investment Management

Eagle Ridge Investment Management cut its position in shares of Nova Ltd. (NASDAQ:NVMI) by 5.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,284 shares of the semiconductor company’s stock after selling 198 shares during the quarter. Eagle Ridge Investment Management’s holdings in Nova were worth $451,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Asset Dedication LLC acquired a new stake in Nova in the third quarter worth $34,000. Signaturefd LLC increased its position in Nova by 20.6% in the third quarter. Signaturefd LLC now owns 672 shares of the semiconductor company’s stock worth $76,000 after buying an additional 115 shares during the period. Cerity Partners LLC acquired a new stake in Nova in the fourth quarter worth $201,000. TD Asset Management Inc acquired a new stake in Nova in the third quarter worth $218,000. Finally, Pinnacle Financial Partners Inc acquired a new position in shares of Nova during the fourth quarter valued at $218,000. 82.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NVMI. Benchmark raised their price target on Nova from $150.00 to $187.00 and gave the company a “buy” rating in a report on Friday, February 16th. Evercore ISI began coverage on Nova in a report on Tuesday, April 16th. They set an “outperform” rating and a $210.00 price target on the stock.

Nova Price Performance

Shares of NVMI traded down $1.03 during trading hours on Monday, reaching $173.31. 65,354 shares of the company’s stock traded hands, compared to its average volume of 164,154. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 40.53, a P/E/G ratio of 6.61 and a beta of 1.41. Nova Ltd. has a twelve month low of $87.85 and a twelve month high of $190.51. The business’s fifty day simple moving average is $173.52 and its two-hundred day simple moving average is $143.51.

Nova (NASDAQ:NVMI) last released its earnings results on Thursday, February 15th. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.14. The firm had revenue of $134.22 million for the quarter, compared to analyst estimates of $128.00 million. Nova had a return on equity of 20.55% and a net margin of 26.32%. On average, equities research analysts expect that Nova Ltd. will post 4.87 EPS for the current year.

About Nova

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.