Menora Mivtachim Holdings LTD. Lowers Stock Holdings in Nova Ltd. (NASDAQ:NVMI)

Menora Mivtachim Holdings LTD. reduced its position in Nova Ltd. (NASDAQ:NVMI - Free Report) by 2.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,264,983 shares of the semiconductor company's stock after selling 26,138 shares during the period. Nova accounts for about 1.6% of Menora Mivtachim Holdings LTD.'s portfolio, making the stock its 21st largest position. Menora Mivtachim Holdings LTD. owned approximately 4.35% of Nova worth $249,138,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its stake in Nova by 24.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 401 shares of the semiconductor company's stock valued at $79,000 after acquiring an additional 78 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Nova in the 4th quarter worth $112,000. Quadrant Capital Group LLC boosted its position in shares of Nova by 5.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,030 shares of the semiconductor company's stock worth $203,000 after purchasing an additional 51 shares in the last quarter. Advisory Services Network LLC grew its stake in Nova by 5.0% during the 4th quarter. Advisory Services Network LLC now owns 1,149 shares of the semiconductor company's stock worth $226,000 after buying an additional 55 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Nova by 79.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,182 shares of the semiconductor company's stock valued at $233,000 after buying an additional 524 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company's stock.

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Nova Trading Up 1.4 %

Shares of NVMI stock traded up $2.62 during trading hours on Tuesday, hitting $186.78. The company's stock had a trading volume of 161,445 shares, compared to its average volume of 225,891. The company has a 50 day moving average of $216.64 and a 200 day moving average of $208.31. Nova Ltd. has a 12-month low of $154.00 and a 12-month high of $289.90. The stock has a market cap of $5.47 billion, a PE ratio of 32.54, a price-to-earnings-growth ratio of 2.55 and a beta of 1.63.

Nova (NASDAQ:NVMI - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The semiconductor company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.04). The company had revenue of $194.77 million for the quarter, compared to analyst estimates of $186.50 million. Nova had a return on equity of 22.33% and a net margin of 27.33%. As a group, analysts anticipate that Nova Ltd. will post 7.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

NVMI has been the subject of several recent analyst reports. Benchmark raised their price target on Nova from $245.00 to $295.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Needham & Company LLC reiterated a "hold" rating on shares of Nova in a research note on Friday, February 14th. Citigroup upgraded shares of Nova from a "neutral" rating to a "buy" rating and upped their price target for the company from $226.00 to $240.00 in a research note on Monday, January 6th. Finally, Cantor Fitzgerald cut their target price on Nova from $315.00 to $300.00 and set an "overweight" rating on the stock in a research report on Friday, March 14th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Nova has an average rating of "Moderate Buy" and an average target price of $250.83.

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.