Nova Ltd. (NASDAQ:NVMI) Receives Average Recommendation of “Moderate Buy” from Analysts

Nova Ltd. (NASDAQ:NVMIGet Free Report) has been given a consensus rating of “Moderate Buy” by the five analysts that are covering the firm, reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $221.25.

Several analysts recently weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Nova in a report on Friday, May 10th. Bank of America lifted their price objective on Nova from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Benchmark increased their target price on Nova from $187.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Evercore ISI started coverage on Nova in a research report on Tuesday, April 16th. They set an “outperform” rating and a $210.00 price target on the stock. Finally, Jefferies Financial Group started coverage on Nova in a research report on Monday, May 13th. They set a “buy” rating and a $240.00 price objective for the company.

Get Our Latest Analysis on Nova

Hedge Funds Weigh In On Nova

Several large investors have recently modified their holdings of the stock. Tidal Investments LLC bought a new stake in Nova during the 1st quarter valued at about $2,589,000. Vancity Investment Management Ltd raised its holdings in Nova by 1.9% in the 1st quarter. Vancity Investment Management Ltd now owns 4,969 shares of the semiconductor company’s stock worth $881,000 after acquiring an additional 95 shares during the last quarter. Grandeur Peak Global Advisors LLC bought a new position in Nova in the 1st quarter valued at approximately $15,195,000. Capital World Investors boosted its stake in Nova by 22.3% during the 1st quarter. Capital World Investors now owns 450,868 shares of the semiconductor company’s stock valued at $79,975,000 after purchasing an additional 82,322 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Nova by 3.0% during the first quarter. Acadian Asset Management LLC now owns 803,025 shares of the semiconductor company’s stock valued at $142,408,000 after buying an additional 23,668 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Nova Stock Up 0.9 %

NASDAQ NVMI opened at $196.23 on Monday. The company has a 50-day simple moving average of $177.50 and a two-hundred day simple moving average of $152.35. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 45.21, a PEG ratio of 2.62 and a beta of 1.40. Nova has a 12-month low of $90.59 and a 12-month high of $203.02.

Nova (NASDAQ:NVMIGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.10 by $0.29. The firm had revenue of $141.80 million during the quarter, compared to the consensus estimate of $136.78 million. Nova had a net margin of 26.26% and a return on equity of 19.89%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.12 earnings per share. Equities analysts expect that Nova will post 5.21 earnings per share for the current fiscal year.

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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Analyst Recommendations for Nova (NASDAQ:NVMI)

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