Jupiter Topco LLC Takes Position in Nova Ltd. $NVMI

Jupiter Topco LLC acquired a new position in Nova Ltd. (NASDAQ:NVMI) during the second quarter, Holdings Channel reports. The firm acquired 57,106 shares of the semiconductor company’s stock, valued at approximately $30,979,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC bought a new position in Nova during the fourth quarter valued at about $29,000. Allworth Financial LP acquired a new position in Nova during the second quarter worth about $38,000. Measured Wealth Private Client Group LLC bought a new stake in Nova in the third quarter worth about $40,000. CIBC Private Wealth Group LLC lifted its holdings in Nova by 75.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 130 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 56 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Nova by 2,042.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 143 shares in the last quarter. Institutional investors own 82.99% of the company’s stock.

Nova Stock Down 5.9%

NASDAQ:NVMI opened at $349.06 on Friday. Nova Ltd. has a 1-year low of $232.73 and a 1-year high of $615.99. The firm has a market capitalization of $11.09 billion, a price-to-earnings ratio of 43.20, a price-to-earnings-growth ratio of 2.14 and a beta of 1.78. The stock has a fifty day simple moving average of $435.07 and a 200 day simple moving average of $468.19.

Nova (NASDAQ:NVMI) last issued its quarterly earnings results on Friday, August 7th. The semiconductor company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.10. The firm had revenue of $254.96 million for the quarter, compared to analysts’ expectations of $250.33 million. Nova had a return on equity of 21.41% and a net margin of 28.84%.Nova’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the business posted $2.20 EPS. Equities analysts predict that Nova Ltd. will post 9.89 earnings per share for the current year.

Insider Activity

In other news, CEO Gabriel Waisman sold 2,966 shares of Nova stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $501.30, for a total value of $1,486,855.80. Following the transaction, the chief executive officer directly owned 28,714 shares of the company’s stock, valued at $14,394,328.20. This trade represents a 9.36% decrease in their ownership of the stock. 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 Sarit Sagiv sold 454 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $536.52, for a total transaction of $243,580.08. Following the sale, the director owned 1,951 shares in the company, valued at $1,046,750.52. This represents a 18.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 5,442 shares of company stock valued at $2,905,622. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NVMI. Needham & Company LLC lowered their price objective on shares of Nova from $640.00 to $570.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Morgan Stanley increased their target price on shares of Nova from $494.00 to $540.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Evercore set a $475.00 target price on shares of Nova in a report on Friday, August 7th. Weiss Ratings lowered shares of Nova from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 7th. Finally, Cantor Fitzgerald dropped their price target on Nova from $600.00 to $500.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $514.44.

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.