Nova (NASDAQ:NVMI) Sets New 12-Month High at $126.60

Shares of Nova Ltd. (NASDAQ:NVMI) hit a new 52-week high on Tuesday . The company traded as high as $126.60 and last traded at $126.47, with a volume of 71344 shares traded. The stock had previously closed at $120.70.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com assumed coverage on Nova in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Benchmark lifted their price target on Nova from $106.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, Needham & Company LLC lowered Nova from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $118.00.

Nova Stock Up 2.1 %

The firm has a fifty day moving average price of $117.54 and a two-hundred day moving average price of $105.44. The stock has a market capitalization of $3.72 billion, a P/E ratio of 30.21, a P/E/G ratio of 8.27 and a beta of 1.24.

Nova (NASDAQ:NVMI) last announced its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.14. The company had revenue of $122.70 million during the quarter, compared to the consensus estimate of $121.00 million. Nova had a net margin of 24.68% and a return on equity of 23.03%. Sell-side analysts anticipate that Nova Ltd. will post 4.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NVMI. Principal Financial Group Inc. lifted its stake in Nova by 7.9% during the 4th quarter. Principal Financial Group Inc. now owns 276,981 shares of the semiconductor company’s stock valued at $22,624,000 after acquiring an additional 20,168 shares during the period. Jennison Associates LLC purchased a new stake in Nova during the 1st quarter valued at $394,000. American Century Companies Inc. boosted its stake in shares of Nova by 2.8% in the 1st quarter. American Century Companies Inc. now owns 357,201 shares of the semiconductor company’s stock worth $37,317,000 after buying an additional 9,768 shares during the last quarter. MQS Management LLC boosted its stake in shares of Nova by 5.2% in the 4th quarter. MQS Management LLC now owns 4,784 shares of the semiconductor company’s stock worth $391,000 after buying an additional 235 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of Nova in the first quarter worth $1,504,000. 76.26% of the stock is owned by institutional investors.

Nova Company Profile

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.