Nova (NASDAQ:NVMI) Shares Gap Up – What’s Next?

Nova Ltd. (NASDAQ:NVMI)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $477.07, but opened at $506.35. Nova shares last traded at $480.6370, with a volume of 151,100 shares changing hands.

Analyst Ratings Changes

Several analysts recently issued reports on NVMI shares. Evercore ISI lifted their target price on Nova from $290.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nova in a research note on Monday, December 22nd. Benchmark lifted their target price on Nova from $280.00 to $345.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Bank of America raised their price target on Nova from $380.00 to $450.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Finally, Morgan Stanley initiated coverage on Nova in a report on Monday, December 1st. They set an “equal weight” rating and a $335.00 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $348.57.

Nova Stock Up 1.2%

The business’s fifty day moving average is $355.78 and its two-hundred day moving average is $315.70. 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 market cap of $14.19 billion, a P/E ratio of 62.95, a price-to-earnings-growth ratio of 2.79 and a beta of 1.84.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its position in shares of Nova by 9.6% in the 2nd quarter. American Century Companies Inc. now owns 147,657 shares of the semiconductor company’s stock worth $40,635,000 after purchasing an additional 12,957 shares in the last quarter. Congress Asset Management Co. grew its stake in shares of Nova by 2.7% during the third quarter. Congress Asset Management Co. now owns 286,076 shares of the semiconductor company’s stock worth $91,447,000 after acquiring an additional 7,438 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Nova by 33.0% during the second quarter. Cetera Investment Advisers now owns 6,662 shares of the semiconductor company’s stock valued at $1,833,000 after acquiring an additional 1,653 shares in the last quarter. Y.D. More Investments Ltd boosted its stake in Nova by 6.8% in the 2nd quarter. Y.D. More Investments Ltd now owns 318,035 shares of the semiconductor company’s stock worth $89,781,000 after purchasing an additional 20,114 shares in the last quarter. Finally, Associated Banc Corp acquired a new stake in Nova in the 2nd quarter worth approximately $248,000. Hedge funds and other institutional investors own 82.99% of the company’s stock.

About Nova

Nova Measuring Instruments Ltd (NASDAQ: NVMI) develops and supplies advanced metrology and process control systems for the semiconductor manufacturing industry. The company’s core product line includes spectroscopic ellipsometry and scatterometry tools designed to measure film thickness, critical dimensions, overlay alignment and other key parameters that drive yield and performance in integrated circuit fabrication.

Founded in 1993 and headquartered in Rehovot, Israel, Nova Measuring Instruments has established itself as a critical partner to leading semiconductor foundries and device manufacturers.