Nova (NASDAQ:NVMI) Sees Large Volume Increase

Nova Ltd. (NASDAQ:NVMI - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 126,913 shares changed hands during trading, a decline of 30% from the previous session's volume of 182,135 shares.The stock last traded at $224.36 and had previously closed at $218.61.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Jefferies Financial Group initiated coverage on shares of Nova in a research note on Monday, May 13th. They issued a "buy" rating and a $240.00 price objective for the company. Benchmark lifted their price target on Nova from $215.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. Needham & Company LLC restated a "hold" rating on shares of Nova in a research report on Friday, May 10th. Citigroup lifted their target price on Nova from $223.00 to $273.00 and gave the stock a "buy" rating in a report on Monday, July 15th. Finally, Bank of America boosted their price objective on shares of Nova from $190.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $236.60.

Nova Trading Up 2.9 %

The firm has a market cap of $6.53 billion, a P/E ratio of 51.83, a P/E/G ratio of 2.75 and a beta of 1.47. The business 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.43. Nova had a net margin of 26.26% and a return on equity of 19.89%. The company had revenue of $156.86 million for the quarter, compared to analysts' expectations of $148.12 million. During the same period in the prior year, the business earned $0.97 EPS. The firm's quarterly revenue was up 27.8% on a year-over-year basis. On average, equities analysts anticipate that Nova Ltd. will post 4.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nova

A number of large investors have recently bought and sold shares of NVMI. Employees Retirement System of Texas purchased a new position in shares of Nova in the 2nd quarter valued at $68,000. FSC Wealth Advisors LLC purchased a new position in Nova in the second quarter valued at about $79,000. Signaturefd LLC raised its holdings in Nova by 15.9% in the second quarter. Signaturefd LLC now owns 767 shares of the semiconductor company's stock worth $180,000 after purchasing an additional 105 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Nova by 46.2% during the first quarter. Russell Investments Group Ltd. now owns 1,038 shares of the semiconductor company's stock valued at $184,000 after buying an additional 328 shares during the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of Nova in the 4th quarter valued at about $201,000. Institutional investors 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.