Principal Financial Group Inc. Sells 19,059 Shares of Nova Ltd. (NASDAQ:NVMI)

Principal Financial Group Inc. reduced its position in shares of Nova Ltd. (NASDAQ:NVMIGet Rating) by 6.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 263,794 shares of the semiconductor company’s stock after selling 19,059 shares during the period. Principal Financial Group Inc.’s holdings in Nova were worth $23,354,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Nova by 3.6% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,251,164 shares of the semiconductor company’s stock valued at $110,766,000 after purchasing an additional 43,700 shares in the last quarter. Menora Mivtachim Holdings LTD. lifted its position in shares of Nova by 18.8% during the second quarter. Menora Mivtachim Holdings LTD. now owns 1,217,698 shares of the semiconductor company’s stock valued at $107,803,000 after purchasing an additional 193,058 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Nova by 1.4% during the first quarter. Vanguard Group Inc. now owns 839,822 shares of the semiconductor company’s stock valued at $91,439,000 after purchasing an additional 11,224 shares in the last quarter. Meitav Dash Investments Ltd. lifted its position in shares of Nova by 2.8% during the second quarter. Meitav Dash Investments Ltd. now owns 696,636 shares of the semiconductor company’s stock valued at $61,098,000 after purchasing an additional 19,155 shares in the last quarter. Finally, abrdn plc lifted its position in shares of Nova by 46.7% during the first quarter. abrdn plc now owns 489,018 shares of the semiconductor company’s stock valued at $54,208,000 after purchasing an additional 155,759 shares in the last quarter. 68.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NVMI. Citigroup decreased their price objective on shares of Nova to $123.00 in a report on Sunday, November 13th. StockNews.com began coverage on shares of Nova in a report on Wednesday, October 12th. They set a “hold” rating for the company. Benchmark decreased their price objective on shares of Nova from $146.00 to $140.00 in a report on Tuesday, August 9th. Bank of America decreased their price objective on shares of Nova from $130.00 to $107.00 and set a “buy” rating for the company in a report on Friday, October 7th. Finally, Needham & Company LLC raised their price objective on shares of Nova from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, November 4th.

Nova Price Performance

NVMI opened at $86.30 on Monday. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 4.08 and a beta of 1.18. The company has a quick ratio of 3.82, a current ratio of 4.80 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $82.94 and a 200-day moving average price of $93.67. Nova Ltd. has a twelve month low of $67.40 and a twelve month high of $149.15.

About Nova

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Nova Ltd. designs, develops, produces, and sells process control systems used in the manufacture of semiconductors in Israel, Taiwan, the United States, China, Korea, and internationally. Its product portfolio includes a set of metrology platforms for dimensional, films, and materials and chemical metrology measurements for process control for various semiconductor manufacturing process steps, including lithography, etch, chemical mechanical planarization, deposition, electrochemical plating, and advanced packaging.

See Also

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Institutional Ownership by Quarter for Nova (NASDAQ:NVMI)

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