Arrowstreet Capital Limited Partnership trimmed its position in Nova Ltd. (NASDAQ:NVMI - Free Report) by 43.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,685 shares of the semiconductor company's stock after selling 136,132 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.60% of Nova worth $34,436,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP grew its stake in 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 acquiring an additional 114 shares during the period. Steward Partners Investment Advisory LLC grew its position in Nova by 24.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 401 shares of the semiconductor company's stock valued at $79,000 after purchasing an additional 78 shares during the period. SBI Securities Co. Ltd. bought a new stake in Nova during the 4th quarter valued at $112,000. PNC Financial Services Group Inc. increased its stake in Nova by 79.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,182 shares of the semiconductor company's stock valued at $233,000 after purchasing an additional 524 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Nova by 6.1% during the fourth quarter. Blue Trust Inc. now owns 1,275 shares of the semiconductor company's stock worth $251,000 after buying an additional 73 shares during the last quarter. 82.99% of the stock is owned by institutional investors.
Nova Trading Up 5.3 %
Shares of NVMI stock traded up $8.58 during trading on Monday, hitting $170.61. The company's stock had a trading volume of 647,883 shares, compared to its average volume of 221,701. The company has a market cap of $5.00 billion, a PE ratio of 29.72, a P/E/G ratio of 2.55 and a beta of 1.63. The business has a fifty day moving average of $226.42 and a 200-day moving average of $209.70. Nova Ltd. has a 52 week low of $154.00 and a 52 week high of $289.90.
Nova (NASDAQ:NVMI - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The semiconductor company reported $1.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.82 by ($0.04). Nova had a net margin of 27.33% and a return on equity of 22.33%. The business had revenue of $194.77 million during the quarter, compared to the consensus estimate of $186.50 million. As a group, research analysts predict that Nova Ltd. will post 7.52 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the stock. Benchmark boosted their target price on shares of Nova from $245.00 to $295.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Citigroup raised Nova from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $226.00 to $240.00 in a report on Monday, January 6th. Needham & Company LLC restated a "hold" rating on shares of Nova in a report on Friday, February 14th. Finally, Cantor Fitzgerald cut their target price on Nova from $315.00 to $300.00 and set an "overweight" rating on the stock in a research report on Friday, March 14th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Nova currently has an average rating of "Moderate Buy" and an average price target of $250.83.
Check Out Our Latest Stock Report on NVMI
About Nova
(
Free Report)
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.
Read More
Before you consider Nova, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nova wasn't on the list.
While Nova currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
