Nova Ltd. (NASDAQ:NVMI) Receives $250.83 Average Price Target from Analysts

Shares of Nova Ltd. (NASDAQ:NVMI - Get Free Report) have earned an average rating of "Moderate Buy" from the seven research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $250.83.

Several brokerages have recently weighed in on NVMI. Cantor Fitzgerald decreased their price objective on Nova from $315.00 to $300.00 and set an "overweight" rating on the stock in a report on Friday, March 14th. Needham & Company LLC reiterated a "hold" rating on shares of Nova in a research note on Friday, February 14th. Benchmark increased their price objective on shares of Nova from $245.00 to $295.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Finally, Citigroup upgraded shares of Nova from a "neutral" rating to a "buy" rating and lifted their target price for the company from $226.00 to $240.00 in a research report on Monday, January 6th.

Institutional Trading of Nova

Several large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its holdings in shares of Nova by 170.5% in the third quarter. BNP Paribas Financial Markets now owns 21,987 shares of the semiconductor company's stock valued at $4,581,000 after purchasing an additional 13,858 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Nova by 19.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,491 shares of the semiconductor company's stock valued at $2,616,000 after acquiring an additional 2,070 shares during the period. Morse Asset Management Inc increased its stake in Nova by 3.2% during the 3rd quarter. Morse Asset Management Inc now owns 4,030 shares of the semiconductor company's stock worth $840,000 after purchasing an additional 125 shares in the last quarter. Quarry LP raised its holdings in Nova by 438.5% during 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 period. Finally, Quadrature Capital Ltd acquired a new stake in Nova during the 3rd quarter worth approximately $967,000. Institutional investors own 82.99% of the company's stock.

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Nova Trading Up 5.3 %

NASDAQ:NVMI traded up $8.58 during trading hours on Thursday, hitting $170.61. 647,883 shares of the company traded hands, compared to its average volume of 221,701. Nova has a twelve month low of $154.00 and a twelve month high of $289.90. The firm has a 50-day moving average of $226.42 and a 200 day moving average of $209.70. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 29.72, a P/E/G ratio of 2.55 and a beta of 1.63.

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

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.