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

Shares of Nova Ltd. (NASDAQ:NVMI) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $442.25.

NVMI has been the topic of several recent analyst reports. Morgan Stanley reiterated an “outperform” rating and set a $453.00 target price on shares of Nova in a research note on Friday, February 13th. Citigroup increased their target price on Nova from $370.00 to $520.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Evercore reiterated an “outperform” rating and set a $485.00 target price on shares of Nova in a research note on Friday, February 13th. Barclays initiated coverage on Nova in a research note on Wednesday, March 11th. They set an “overweight” rating and a $465.00 target price on the stock. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $520.00 target price on shares of Nova in a research note on Thursday, February 12th.

Nova Stock Performance

Shares of NVMI opened at $532.17 on Tuesday. The business’s fifty day simple moving average is $457.06 and its two-hundred day simple moving average is $390.44. The company has a current ratio of 6.28, a quick ratio of 5.47 and a debt-to-equity ratio of 0.56. Nova has a 12 month low of $168.18 and a 12 month high of $533.70. The company has a market cap of $16.91 billion, a price-to-earnings ratio of 66.44, a P/E/G ratio of 3.87 and a beta of 1.80.

Nova (NASDAQ:NVMI) last issued its earnings results on Friday, February 13th. The semiconductor company reported $2.14 EPS for the quarter, beating the consensus estimate of $2.13 by $0.01. Nova had a return on equity of 22.90% and a net margin of 29.44%.The business had revenue of $222.62 million for the quarter, compared to the consensus estimate of $220.43 million. During the same period last year, the business posted $1.94 EPS. The company’s revenue was up 14.3% compared to the same quarter last year. Research analysts anticipate that Nova will post 9.37 earnings per share for the current fiscal year.

Institutional Trading of Nova

Several institutional investors have recently added to or reduced their stakes in NVMI. Smartleaf Asset Management LLC purchased a new position in shares of Nova in the 4th quarter worth $29,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Nova in the 3rd quarter worth $40,000. CIBC Private Wealth Group LLC boosted its stake in shares of Nova by 75.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 130 shares of the semiconductor company’s stock worth $42,000 after buying an additional 56 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Nova by 2,042.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the semiconductor company’s stock worth $48,000 after buying an additional 143 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Nova by 51.6% in the 1st quarter. Advisors Asset Management Inc. now owns 376 shares of the semiconductor company’s stock worth $69,000 after buying an additional 128 shares during the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

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.