ARK Investment Management LLC lessened its position in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 17.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,771 shares of the semiconductor company's stock after selling 2,702 shares during the quarter. ARK Investment Management LLC's holdings in Nova were worth $2,995,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the business. Perfromance Wealth Partners LLC raised its stake in shares of Nova by 48.6% in the second quarter. Perfromance Wealth Partners LLC now owns 3,715 shares of the semiconductor company's stock worth $871,000 after buying an additional 1,215 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Nova by 84.9% in the second quarter. Assenagon Asset Management S.A. now owns 128,854 shares of the semiconductor company's stock worth $30,236,000 after purchasing an additional 59,164 shares during the period. FSC Wealth Advisors LLC purchased a new position in shares of Nova during the 2nd quarter valued at $79,000. Wealth Enhancement Advisory Services LLC bought a new position in Nova in the 2nd quarter worth $232,000. Finally, OLD National Bancorp IN purchased a new stake in Nova in the 2nd quarter worth $205,000. Institutional investors own 82.99% of the company's stock.
Nova Stock Up 2.9 %
NVMI traded up $6.34 during trading hours on Tuesday, reaching $224.95. 217,888 shares of the company's stock traded hands, compared to its average volume of 183,350. The firm has a market capitalization of $6.53 billion, a PE ratio of 51.83, a PEG ratio of 2.75 and a beta of 1.47. Nova Ltd. has a 52-week low of $90.59 and a 52-week high of $247.21. The firm has a 50-day moving average price of $221.16 and a 200 day moving average price of $198.23.
Nova (NASDAQ:NVMI - Get Free Report) last issued its earnings results on Thursday, August 8th. The semiconductor company reported $1.61 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.43. Nova had a net margin of 26.26% and a return on equity of 19.89%. The business had revenue of $156.86 million for the quarter, compared to the consensus estimate of $148.12 million. During the same period in the prior year, the firm earned $0.97 EPS. The company's revenue for the quarter was up 27.8% compared to the same quarter last year. Equities analysts predict that Nova Ltd. will post 4.79 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the company. Citigroup lifted their target price on Nova from $223.00 to $273.00 and gave the company a "buy" rating in a research note on Monday, July 15th. Needham & Company LLC reiterated a "hold" rating on shares of Nova in a research note on Friday, May 10th. Bank of America raised their price objective on Nova from $190.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, May 10th. Jefferies Financial Group started coverage on Nova in a research note on Monday, May 13th. They set a "buy" rating and a $240.00 price target for the company. Finally, Benchmark lifted their price objective on Nova from $215.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Nova presently has a consensus rating of "Moderate Buy" and an average price target of $236.60.
Check Out Our Latest Analysis on Nova
Nova Company Profile
(
Free Report)
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.
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