Bank of New York Mellon Corp Raises Stock Holdings in Nova Ltd. (NASDAQ:NVMI)

Bank of New York Mellon Corp raised its stake in Nova Ltd. (NASDAQ:NVMI - Free Report) by 1,016.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,960 shares of the semiconductor company's stock after acquiring an additional 16,351 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.06% of Nova worth $3,537,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of NVMI. Advisors Asset Management Inc. lifted its holdings in 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 during the period. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Nova by 74.6% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,281,869 shares of the semiconductor company's stock valued at $267,487,000 after acquiring an additional 547,833 shares during the period. Truvestments Capital LLC lifted its holdings in Nova by 17.9% in the third quarter. Truvestments Capital LLC now owns 4,948 shares of the semiconductor company's stock valued at $1,031,000 after acquiring an additional 753 shares during the period. Mirabella Financial Services LLP lifted its holdings in Nova by 39.9% in the third quarter. Mirabella Financial Services LLP now owns 4,652 shares of the semiconductor company's stock valued at $921,000 after acquiring an additional 1,326 shares during the period. Finally, Quantbot Technologies LP lifted its holdings in Nova by 131.0% in the third quarter. Quantbot Technologies LP now owns 13,540 shares of the semiconductor company's stock valued at $2,821,000 after acquiring an additional 7,678 shares during the period. 82.99% of the stock is owned by institutional investors and hedge funds.

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Nova Stock Performance

Shares of NVMI traded down $4.20 during trading hours on Friday, hitting $196.76. 174,683 shares of the stock were exchanged, compared to its average volume of 207,494. Nova Ltd. has a 12-month low of $158.00 and a 12-month high of $289.90. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 34.28, a price-to-earnings-growth ratio of 2.55 and a beta of 1.46. The stock's 50-day moving average price is $238.47 and its two-hundred day moving average price is $210.63.

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 the consensus estimate of $1.82 by ($0.04). Nova had a return on equity of 22.33% and a net margin of 27.33%. The firm had revenue of $194.77 million for the quarter, compared to analysts' expectations of $186.50 million. On average, research analysts expect that Nova Ltd. will post 7.52 earnings per share for the current year.

Analyst Ratings Changes

NVMI has been the subject of a number of analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Nova in a report on Friday, February 14th. Citigroup raised Nova from a "neutral" rating to a "buy" rating and upped their target price for the stock from $226.00 to $240.00 in a research note on Monday, January 6th. Cantor Fitzgerald reduced their target price on Nova from $315.00 to $300.00 and set an "overweight" rating for the company in a research note on Friday, March 14th. Finally, Benchmark upped their target price on Nova from $245.00 to $295.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.