Analysts Set Nova Ltd. (NASDAQ:NVMI) Price Target at $238.33

Shares of Nova Ltd. (NASDAQ:NVMI) have been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $238.33.

A number of equities analysts recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Nova in a research report on Friday, November 8th. Cantor Fitzgerald assumed coverage on shares of Nova in a report on Monday, January 13th. They issued an “overweight” rating and a $275.00 price objective on the stock. Benchmark lifted their target price on Nova from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Citigroup raised Nova from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $226.00 to $240.00 in a research report on Monday, January 6th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NVMI. Evergreen Capital Management LLC boosted its stake in Nova by 5.0% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,230 shares of the semiconductor company’s stock worth $288,000 after purchasing an additional 59 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Nova by 89.7% during the third quarter. Advisors Asset Management Inc. now owns 165 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 78 shares during the period. Quarry LP increased its stake in shares of Nova by 438.5% during the third quarter. Quarry LP now owns 140 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 114 shares during the period. Morse Asset Management Inc lifted its holdings in shares of Nova by 3.2% in the 3rd quarter. Morse Asset Management Inc now owns 4,030 shares of the semiconductor company’s stock valued at $840,000 after buying an additional 125 shares during the period. Finally, TFB Advisors LLC boosted its position in shares of Nova by 9.0% during the 3rd quarter. TFB Advisors LLC now owns 1,848 shares of the semiconductor company’s stock worth $385,000 after purchasing an additional 152 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Nova Stock Up 1.1 %

NASDAQ:NVMI opened at $244.91 on Friday. The stock has a market capitalization of $7.11 billion, a PE ratio of 45.69, a price-to-earnings-growth ratio of 1.81 and a beta of 1.42. The stock’s 50-day moving average price is $198.37 and its 200-day moving average price is $203.86. Nova has a 52 week low of $135.27 and a 52 week high of $249.01.

About Nova

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.