Nova Ltd. (NASDAQ:NVMI) Position Cut by HighTower Advisors LLC

HighTower Advisors LLC lowered its holdings in shares of Nova Ltd. (NASDAQ:NVMI) by 23.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,774 shares of the semiconductor company’s stock after selling 3,681 shares during the period. HighTower Advisors LLC’s holdings in Nova were worth $2,462,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its holdings in shares of Nova by 89.7% in the third quarter. Advisors Asset Management Inc. now owns 165 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 78 shares in the last quarter. Employees Retirement System of Texas bought a new position in Nova during the 2nd quarter valued at $68,000. Signaturefd LLC increased its position in shares of Nova by 15.9% during the 2nd quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock valued at $180,000 after purchasing an additional 105 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Nova during the 2nd quarter valued at $211,000. Finally, Maven Securities LTD bought a new stake in shares of Nova in the 2nd quarter worth $227,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NVMI. Citigroup lowered Nova from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $273.00 to $224.00 in a report on Monday, September 16th. Benchmark lifted their price objective on shares of Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Nova in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Nova currently has a consensus rating of “Moderate Buy” and an average target price of $227.80.

Nova Stock Down 0.6 %

NASDAQ:NVMI opened at $188.33 on Friday. The stock has a fifty day simple moving average of $190.29 and a 200 day simple moving average of $207.47. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 35.14, a price-to-earnings-growth ratio of 1.81 and a beta of 1.44. Nova Ltd. has a 1-year low of $128.74 and a 1-year high of $247.21.

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.