Cantor Fitzgerald Issues Pessimistic Forecast for Nova (NASDAQ:NVMI) Stock Price

Nova (NASDAQ:NVMI - Free Report) had its target price lowered by Cantor Fitzgerald from $315.00 to $300.00 in a report published on Friday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the semiconductor company's stock.

Several other analysts also recently issued reports on NVMI. Citigroup raised shares of Nova from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $226.00 to $240.00 in a research note on Monday, January 6th. Needham & Company LLC reissued a "hold" rating on shares of Nova in a research note on Friday, February 14th. Finally, Benchmark raised their price objective on shares of Nova from $245.00 to $295.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $250.83.

Nova Trading Down 3.9 %

Shares of NASDAQ:NVMI traded down $8.02 during trading on Friday, reaching $198.25. The company's stock had a trading volume of 487,410 shares, compared to its average volume of 205,556. Nova has a 12 month low of $158.00 and a 12 month high of $289.90. The firm's 50 day simple moving average is $240.11 and its two-hundred day simple moving average is $211.11. The stock has a market capitalization of $5.80 billion, a PE ratio of 34.54, a price-to-earnings-growth ratio of 2.55 and a beta of 1.46.

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Nova (NASDAQ:NVMI - Get Free Report) last announced 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 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. Research analysts anticipate that Nova will post 7.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Nova

Institutional investors have recently modified their holdings of the stock. Quarry LP increased its position 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. Advisors Asset Management Inc. increased its position 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 acquiring an additional 78 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of Nova by 24.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 401 shares of the semiconductor company's stock worth $79,000 after acquiring an additional 78 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Nova during the fourth quarter worth approximately $112,000. Finally, Quadrant Capital Group LLC increased its holdings in Nova by 5.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,030 shares of the semiconductor company's stock valued at $203,000 after buying an additional 51 shares during the period. 82.99% of the stock is owned by hedge funds and other institutional investors.

Nova Company 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.