Nova (NASDAQ:NVMI) Upgraded to Buy at Citigroup

Citigroup upgraded shares of Nova (NASDAQ:NVMI - Free Report) from a neutral rating to a buy rating in a report issued on Monday, Marketbeat.com reports. The firm currently has $240.00 price objective on the semiconductor company's stock, up from their previous price objective of $226.00.

Several other research analysts have also weighed in on the company. Benchmark upped their price target on Nova from $240.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Needham & Company LLC reiterated a "hold" rating on shares of Nova in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $231.00.

Nova Price Performance

NASDAQ NVMI traded up $9.98 on Monday, hitting $214.62. 425,131 shares of the stock were exchanged, compared to its average volume of 294,209. The company's 50-day moving average price is $191.19 and its two-hundred day moving average price is $204.20. Nova has a 52-week low of $129.11 and a 52-week high of $247.21. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 40.04, a P/E/G ratio of 1.78 and a beta of 1.42.

Institutional Trading of Nova

A number of institutional investors have recently bought and sold shares of the company. TD Asset Management Inc raised its stake in shares of Nova by 3.4% during the 2nd quarter. TD Asset Management Inc now owns 4,176 shares of the semiconductor company's stock worth $980,000 after purchasing an additional 136 shares in the last quarter. Y.D. More Investments Ltd increased its holdings in Nova by 2,733.2% in the second quarter. Y.D. More Investments Ltd now owns 288,986 shares of the semiconductor company's stock worth $67,510,000 after buying an additional 278,786 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Nova by 25.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 12,207 shares of the semiconductor company's stock valued at $2,863,000 after acquiring an additional 2,482 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Nova by 12.2% in the second quarter. Envestnet Asset Management Inc. now owns 9,153 shares of the semiconductor company's stock valued at $2,147,000 after acquiring an additional 993 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Nova by 45.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 645,203 shares of the semiconductor company's stock worth $151,319,000 after acquiring an additional 200,816 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company's stock.

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.