JPMorgan Chase & Co. Buys 25,345 Shares of Nova Ltd. (NASDAQ:NVMI)

JPMorgan Chase & Co. boosted its stake in Nova Ltd. (NASDAQ:NVMI - Free Report) by 253.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,327 shares of the semiconductor company's stock after purchasing an additional 25,345 shares during the quarter. JPMorgan Chase & Co. owned about 0.12% of Nova worth $7,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Quarry LP increased its holdings in shares of Nova by 438.5% in the 3rd quarter. Quarry LP now owns 140 shares of the semiconductor company's stock worth $29,000 after buying an additional 114 shares during the last quarter. Advisors Asset Management Inc. grew its position in Nova by 89.7% in 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 in the last quarter. Employees Retirement System of Texas purchased a new position in Nova in the second quarter worth $68,000. Signaturefd LLC increased its stake in 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 acquiring an additional 241 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in Nova during the second quarter valued at about $211,000. 82.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NVMI has been the subject of a number of research reports. Cantor Fitzgerald assumed coverage on Nova in a report on Monday. They issued an "overweight" rating and a $275.00 price objective for the company. Benchmark increased their price target on shares of 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 reissued a "hold" rating on shares of Nova in a research note on Friday, November 8th. Finally, Citigroup raised shares of Nova from a "neutral" rating to a "buy" rating and upped their price objective for the company from $226.00 to $240.00 in a research note on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Nova has a consensus rating of "Moderate Buy" and a consensus target price of $238.33.

Nova Trading Up 1.6 %

Shares of NASDAQ:NVMI traded up $3.74 during trading on Wednesday, reaching $232.66. 304,829 shares of the company traded hands, compared to its average volume of 219,263. Nova Ltd. has a 52-week low of $129.39 and a 52-week high of $247.21. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 43.41, a P/E/G ratio of 1.78 and a beta of 1.42. The business's fifty day moving average is $194.97 and its 200-day moving average is $203.72.

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.