Deutsche Bank AG Invests $48.74 Million in Nova Ltd. $NVMI

Deutsche Bank AG bought a new position in shares of Nova Ltd. (NASDAQ:NVMI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 89,769 shares of the semiconductor company’s stock, valued at approximately $48,739,000.

Other hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC purchased a new position in shares of Nova during the 4th quarter valued at about $29,000. Measured Wealth Private Client Group LLC purchased a new stake in Nova in the 3rd quarter worth approximately $40,000. CIBC Private Wealth Group LLC grew its stake in shares of Nova by 75.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 130 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 56 shares during the period. Caitong International Asset Management Co. Ltd lifted 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 valued at $48,000 after purchasing an additional 143 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in 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 purchasing an additional 128 shares during the period. 82.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wall Street Zen upgraded Nova from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Morgan Stanley increased their price objective on shares of Nova from $494.00 to $540.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Citigroup dropped their target price on shares of Nova from $595.00 to $550.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Zacks Research raised shares of Nova from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Finally, Cantor Fitzgerald cut their price objective on Nova from $600.00 to $500.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. One equities 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $514.44.

Insider Activity at Nova

In other Nova news, CEO Gabriel Waisman sold 2,966 shares of Nova stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $501.30, for a total value of $1,486,855.80. Following the completion of the transaction, the chief executive officer directly owned 28,714 shares of the company’s stock, valued at $14,394,328.20. The trade was a 9.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Yaniv Garty sold 366 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $581.20, for a total transaction of $212,719.20. Following the sale, the director owned 2,006 shares in the company, valued at $1,165,887.20. This trade represents a 15.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,946 shares of company stock valued at $3,686,920 over the last 90 days. Insiders own 1.00% of the company’s stock.

Nova Trading Down 1.8%

Nova stock opened at $376.99 on Friday. The company has a 50-day moving average price of $455.95 and a 200 day moving average price of $470.87. Nova Ltd. has a 12-month low of $232.73 and a 12-month high of $615.99. The stock has a market cap of $11.98 billion, a P/E ratio of 46.66, a PEG ratio of 2.22 and a beta of 1.78.

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

Nova 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.