Evercore ISI Begins Coverage on Nova (NASDAQ:NVMI)

Research analysts at Evercore ISI assumed coverage on shares of Nova (NASDAQ:NVMI) in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $210.00 price target on the semiconductor company’s stock. Evercore ISI’s target price points to a potential upside of 23.44% from the company’s previous close.

Separately, Benchmark boosted their price target on shares of Nova from $150.00 to $187.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Nova has an average rating of “Moderate Buy” and a consensus target price of $170.67.

Nova Trading Down 3.3 %

Shares of NVMI stock opened at $170.12 on Tuesday. Nova has a 1 year low of $87.85 and a 1 year high of $190.51. The firm’s 50 day moving average is $172.35 and its 200-day moving average is $140.35. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 39.75, a PEG ratio of 6.46 and a beta of 1.41.

Nova (NASDAQ:NVMI) last posted its quarterly earnings results on Thursday, February 15th. The semiconductor company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.14. The business had revenue of $134.22 million during the quarter, compared to the consensus estimate of $128.00 million. Nova had a net margin of 26.32% and a return on equity of 20.55%. On average, equities research analysts forecast that Nova will post 4.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nova

A number of institutional investors and hedge funds have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. increased its stake in Nova by 2.1% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,312,919 shares of the semiconductor company’s stock valued at $147,625,000 after purchasing an additional 27,050 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in Nova by 3.3% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,070,485 shares of the semiconductor company’s stock valued at $147,074,000 after purchasing an additional 33,800 shares in the last quarter. Vanguard Group Inc. increased its stake in Nova by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 972,956 shares of the semiconductor company’s stock valued at $133,674,000 after purchasing an additional 13,891 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd increased its stake in Nova by 74.9% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 604,977 shares of the semiconductor company’s stock valued at $83,202,000 after purchasing an additional 259,021 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Nova by 118.1% in the third quarter. Invesco Ltd. now owns 428,132 shares of the semiconductor company’s stock valued at $48,139,000 after purchasing an additional 231,862 shares in the last quarter. 82.99% 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.