Oppenheimer Asset Management Inc. Invests $2.85 Million in Nova Ltd. $NVMI

Oppenheimer Asset Management Inc. purchased a new position in shares of Nova Ltd. (NASDAQ:NVMI) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,242 shares of the semiconductor company’s stock, valued at approximately $2,846,000.

A number of other institutional investors have also modified their holdings of NVMI. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Nova by 7.0% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,493,657 shares of the semiconductor company’s stock worth $490,502,000 after acquiring an additional 98,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Nova by 21.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,565 shares of the semiconductor company’s stock valued at $12,664,000 after acquiring an additional 6,804 shares during the period. Phoenix Financial Ltd. grew its position in Nova by 286.3% in the 4th quarter. Phoenix Financial Ltd. now owns 508,641 shares of the semiconductor company’s stock valued at $167,115,000 after acquiring an additional 376,974 shares in the last quarter. Legal & General Group Plc grew its position in Nova by 19.1% in the 4th quarter. Legal & General Group Plc now owns 145,427 shares of the semiconductor company’s stock valued at $48,642,000 after acquiring an additional 23,280 shares in the last quarter. Finally, Mizuho Markets Americas LLC purchased a new stake in Nova during the fourth quarter worth about $14,056,000. 82.99% of the stock is owned by institutional investors and hedge funds.

Nova Price Performance

NVMI stock opened at $418.12 on Friday. The firm has a market capitalization of $13.29 billion, a P/E ratio of 51.75, a P/E/G ratio of 2.46 and a beta of 1.78. The business’s 50-day moving average is $470.27 and its two-hundred day moving average is $473.84. Nova Ltd. has a 1 year low of $232.73 and a 1 year high of $615.99.

Nova (NASDAQ:NVMI) last announced its quarterly earnings data on Friday, August 7th. The semiconductor company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.10. Nova had a return on equity of 21.41% and a net margin of 28.84%.The business had revenue of $254.96 million during the quarter, compared to analysts’ expectations of $250.33 million. During the same quarter last year, the business posted $2.20 EPS. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, analysts expect that Nova Ltd. will post 9.74 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on NVMI shares. Cantor Fitzgerald reduced their price target on shares of Nova from $600.00 to $500.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Zacks Research raised shares of Nova from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $600.00 target price on shares of Nova in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Nova from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Citigroup decreased their price target on shares of Nova from $595.00 to $550.00 and set a “buy” rating for the company in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $514.44.

Insider Activity

In other Nova news, Director Eitan Oppenhaim sold 1,290 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $581.20, for a total transaction of $749,748.00. Following the completion of the transaction, the director owned 6,421 shares in the company, valued at $3,731,885.20. The trade was a 16.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Yaniv Garty sold 366 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $581.20, for a total transaction of $212,719.20. Following the completion of the sale, the director directly owned 2,006 shares in the company, valued at approximately $1,165,887.20. This represents a 15.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 7,798 shares of company stock worth $4,125,266 in the last ninety days. 1.00% of the stock is owned by insiders.

Nova Company Profile

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.