HighTower Advisors LLC cut its position in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 23.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,774 shares of the semiconductor company's stock after selling 3,681 shares during the quarter. HighTower Advisors LLC's holdings in Nova were worth $2,462,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. boosted its stake in Nova by 89.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 165 shares of the semiconductor company's stock worth $34,000 after buying an additional 78 shares during the last quarter. Employees Retirement System of Texas acquired a new stake in shares of Nova in the second quarter worth approximately $68,000. Signaturefd LLC grew its holdings in Nova by 15.9% in the second quarter. Signaturefd LLC now owns 767 shares of the semiconductor company's stock valued at $180,000 after purchasing an additional 105 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in Nova in the second quarter valued at approximately $211,000. Finally, Maven Securities LTD acquired a new position in Nova during the second quarter worth approximately $227,000. Institutional investors and hedge funds own 82.99% of the company's stock.
Nova Stock Performance
Shares of NASDAQ:NVMI traded down $1.22 during midday trading on Friday, hitting $188.33. 109,806 shares of the company's stock traded hands, compared to its average volume of 190,851. Nova Ltd. has a twelve month low of $128.74 and a twelve month high of $247.21. The company has a market cap of $5.47 billion, a PE ratio of 35.14, a P/E/G ratio of 1.81 and a beta of 1.44. The firm's fifty day moving average price is $190.01 and its two-hundred day moving average price is $207.21.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Nova in a report on Friday, November 8th. Citigroup cut Nova from a "buy" rating to a "neutral" rating and reduced their target price for the company from $273.00 to $224.00 in a report on Monday, September 16th. Finally, Benchmark boosted their price target on Nova from $240.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $227.80.
Check Out Our Latest Research Report on NVMI
Nova Company Profile
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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.
Further Reading
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