Massachusetts Financial Services Co. MA Reduces Holdings in Nova Ltd. (NASDAQ:NVMI)

Massachusetts Financial Services Co. MA cut its holdings in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 19.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 521,634 shares of the semiconductor company's stock after selling 123,569 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.80% of Nova worth $108,677,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its position in shares of Nova by 46.2% during the 1st quarter. Russell Investments Group Ltd. now owns 1,038 shares of the semiconductor company's stock valued at $184,000 after acquiring an additional 328 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Nova by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 987,071 shares of the semiconductor company's stock valued at $175,087,000 after buying an additional 14,115 shares during the period. Grandeur Peak Global Advisors LLC acquired a new position in Nova in the first quarter valued at approximately $15,195,000. Vancity Investment Management Ltd grew its position in Nova by 1.9% in the first quarter. Vancity Investment Management Ltd now owns 4,969 shares of the semiconductor company's stock worth $881,000 after acquiring an additional 95 shares during the period. Finally, Tidal Investments LLC purchased a new position in Nova in the first quarter worth approximately $2,589,000. Hedge funds and other institutional investors own 82.99% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NVMI. Needham & Company LLC restated a "hold" rating on shares of Nova in a report on Friday, November 8th. Benchmark upped their price objective on shares of Nova from $240.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Finally, Citigroup cut shares of Nova from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $273.00 to $224.00 in a research report on Monday, September 16th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $227.80.

Nova Stock Up 0.0 %

NVMI stock traded up $0.04 during midday trading on Friday, hitting $179.76. The company's stock had a trading volume of 132,956 shares, compared to its average volume of 247,258. Nova Ltd. has a 52-week low of $123.44 and a 52-week high of $247.21. The firm has a 50-day simple moving average of $194.56 and a 200-day simple moving average of $208.87. The firm has a market capitalization of $5.22 billion, a P/E ratio of 33.54, a PEG ratio of 1.70 and a beta of 1.47.

About Nova

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.