Norges Bank Takes $11.36 Million Position in Nova Ltd. (NASDAQ:NVMI)

Norges Bank purchased a new stake in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 57,546 shares of the semiconductor company's stock, valued at approximately $11,358,000. Norges Bank owned about 0.20% of Nova as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NVMI. EFG Asset Management North America Corp. bought a new position in Nova during the 4th quarter valued at approximately $3,765,000. Congress Wealth Management LLC DE increased its stake in shares of Nova by 4.1% during the fourth quarter. Congress Wealth Management LLC DE now owns 36,974 shares of the semiconductor company's stock valued at $7,282,000 after buying an additional 1,442 shares during the period. Vanguard Group Inc. raised its holdings in shares of Nova by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,047,782 shares of the semiconductor company's stock valued at $205,985,000 after acquiring an additional 14,667 shares in the last quarter. LPL Financial LLC lifted its stake in Nova by 6.3% in the fourth quarter. LPL Financial LLC now owns 10,323 shares of the semiconductor company's stock worth $2,033,000 after acquiring an additional 608 shares during the period. Finally, Sei Investments Co. boosted its holdings in Nova by 21.5% in the fourth quarter. Sei Investments Co. now owns 145,153 shares of the semiconductor company's stock valued at $28,588,000 after acquiring an additional 25,728 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company's stock.

Nova Price Performance

NASDAQ NVMI traded up $1.80 during trading hours on Friday, reaching $179.78. 198,511 shares of the company's stock traded hands, compared to its average volume of 225,257. The firm has a market cap of $5.26 billion, a PE ratio of 31.32, a PEG ratio of 2.55 and a beta of 1.63. Nova Ltd. has a 52-week low of $154.00 and a 52-week high of $289.90. The firm has a 50-day simple moving average of $219.26 and a 200 day simple moving average of $208.66.

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Nova (NASDAQ:NVMI - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The semiconductor company reported $1.78 EPS for the quarter, missing analysts' consensus estimates of $1.82 by ($0.04). Nova had a return on equity of 22.33% and a net margin of 27.33%. The company had revenue of $194.77 million during the quarter, compared to the consensus estimate of $186.50 million. Sell-side analysts forecast that Nova Ltd. will post 7.52 EPS for the current fiscal year.

Analyst Ratings Changes

NVMI has been the subject of several research reports. Citigroup upgraded shares of 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 report on Monday, January 6th. Cantor Fitzgerald decreased their price target on shares of Nova from $315.00 to $300.00 and set an "overweight" rating for the company in a research note on Friday, March 14th. Benchmark lifted their price objective on Nova from $245.00 to $295.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Nova in a report on Friday, February 14th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $250.83.

Nova 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.