abrdn plc Sells 41,729 Shares of Nova Ltd. (NASDAQ:NVMI)

abrdn plc trimmed its holdings in Nova Ltd. (NASDAQ:NVMI - Free Report) by 24.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 131,041 shares of the semiconductor company's stock after selling 41,729 shares during the quarter. abrdn plc owned 0.45% of Nova worth $25,844,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of NVMI. Quarry LP raised its stake in shares of Nova by 438.5% in the third quarter. Quarry LP now owns 140 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 114 shares in the last quarter. Advisors Asset Management Inc. raised its stake 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 purchasing an additional 78 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Nova in the second quarter valued at $211,000. Signaturefd LLC raised its stake in shares of Nova by 31.4% in the third quarter. Signaturefd LLC now owns 1,008 shares of the semiconductor company's stock valued at $210,000 after purchasing an additional 241 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Nova by 14.6% in the third quarter. Blue Trust Inc. now owns 1,202 shares of the semiconductor company's stock valued at $250,000 after purchasing an additional 153 shares in the last quarter. 82.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NVMI has been the subject of a number of recent research reports. Benchmark upped their target price on Nova from $240.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Citigroup upgraded Nova from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $226.00 to $240.00 in a research note on Monday, January 6th. Cantor Fitzgerald began coverage on Nova in a research note on Monday, January 13th. They set an "overweight" rating and a $275.00 price objective for the company. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Nova in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $238.33.

Nova Price Performance

Shares of NASDAQ:NVMI traded up $5.16 during midday trading on Thursday, reaching $253.76. The company's stock had a trading volume of 188,970 shares, compared to its average volume of 219,761. Nova Ltd. has a fifty-two week low of $145.62 and a fifty-two week high of $266.13. The company has a market capitalization of $7.37 billion, a P/E ratio of 47.34, a P/E/G ratio of 2.00 and a beta of 1.44. The business's fifty day simple moving average is $213.37 and its 200-day simple moving average is $205.15.

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.