Nova Ltd. (NASDAQ:NVMI) Given Consensus Recommendation of “Moderate Buy” by Analysts

Nova Ltd. (NASDAQ:NVMI) has earned an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $322.8571.

Several research firms recently commented on NVMI. Evercore ISI raised their target price on Nova from $290.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Morgan Stanley assumed coverage on Nova in a report on Monday, December 1st. They set an “equal weight” rating and a $335.00 price objective for the company. Benchmark upped their target price on shares of Nova from $280.00 to $345.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Nova in a report on Monday. Finally, Jefferies Financial Group boosted their price target on shares of Nova from $360.00 to $390.00 and gave the company a “buy” rating in a research report on Monday.

Nova Stock Down 1.8%

Shares of NVMI opened at $318.21 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.00 and a current ratio of 4.58. The company has a 50-day simple moving average of $319.75 and a 200-day simple moving average of $286.94. Nova has a 52 week low of $153.99 and a 52 week high of $361.32. The firm has a market capitalization of $9.36 billion, a P/E ratio of 41.60, a P/E/G ratio of 2.16 and a beta of 1.84.

Institutional Investors Weigh In On Nova

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP raised its holdings in shares of Nova by 4.9% in the second quarter. Wasatch Advisors LP now owns 2,200,948 shares of the semiconductor company’s stock valued at $605,701,000 after buying an additional 102,250 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Nova by 3.9% during the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,549,154 shares of the semiconductor company’s stock valued at $428,980,000 after purchasing an additional 58,600 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in Nova by 13.1% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,437,657 shares of the semiconductor company’s stock worth $395,643,000 after purchasing an additional 166,672 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Nova by 6.4% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,428,607 shares of the semiconductor company’s stock worth $456,669,000 after buying an additional 86,438 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Nova by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,113,762 shares of the semiconductor company’s stock valued at $354,172,000 after buying an additional 10,441 shares during the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.

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.