Nova (NASDAQ:NVMI) Shares Gap Down to $202.15

Nova Ltd. (NASDAQ:NVMIGet Free Report)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $202.15, but opened at $197.98. Nova shares last traded at $194.60, with a volume of 50,724 shares changing hands.

Analyst Ratings Changes

A number of research analysts have issued reports on NVMI shares. Bank of America boosted their target price 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. Evercore ISI started coverage on Nova in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $210.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Nova in a research report on Friday, May 10th. Benchmark raised their price target on Nova from $187.00 to $215.00 and gave the company a “buy” rating in a report on Friday, May 10th. Finally, Jefferies Financial Group assumed coverage on shares of Nova in a report on Monday, May 13th. They issued a “buy” rating and a $240.00 price objective for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Nova currently has a consensus rating of “Moderate Buy” and an average target price of $221.25.

Read Our Latest Research Report on NVMI

Nova Stock Performance

The company has a market cap of $5.70 billion, a P/E ratio of 45.21, a P/E/G ratio of 2.60 and a beta of 1.40. The stock has a 50 day moving average price of $177.08 and a 200 day moving average price of $151.23.

Nova (NASDAQ:NVMIGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.10 by $0.29. Nova had a net margin of 26.26% and a return on equity of 19.89%. The firm had revenue of $141.80 million for the quarter, compared to analysts’ expectations of $136.78 million. During the same period in the previous year, the business earned $1.12 earnings per share. Nova’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities research analysts predict that Nova Ltd. will post 5.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NVMI. TimesSquare Capital Management LLC lifted its position in shares of Nova by 8.1% in the 4th quarter. TimesSquare Capital Management LLC now owns 71,770 shares of the semiconductor company’s stock valued at $9,860,000 after acquiring an additional 5,370 shares in the last quarter. UBS Group AG boosted its position in shares of Nova by 8.9% in the third quarter. UBS Group AG now owns 43,365 shares of the semiconductor company’s stock worth $4,876,000 after buying an additional 3,539 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Nova by 3.3% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,070,485 shares of the semiconductor company’s stock valued at $147,074,000 after buying an additional 33,800 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in Nova by 2.1% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,312,919 shares of the semiconductor company’s stock valued at $147,625,000 after buying an additional 27,050 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in Nova by 33.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 276,478 shares of the semiconductor company’s stock worth $31,087,000 after acquiring an additional 69,249 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

About Nova

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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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