Fmr LLC Cuts Stake in Nova Ltd. (NASDAQ:NVMI)

FMR LLC decreased its holdings in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 0.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,889,354 shares of the semiconductor company's stock after selling 15,057 shares during the period. FMR LLC owned approximately 9.95% of Nova worth $601,998,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Nova by 74.6% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,281,869 shares of the semiconductor company's stock valued at $267,487,000 after purchasing an additional 547,833 shares during the period. Y.D. More Investments Ltd boosted its position in Nova by 2,733.2% in the second quarter. Y.D. More Investments Ltd now owns 288,986 shares of the semiconductor company's stock valued at $67,510,000 after buying an additional 278,786 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Nova by 45.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 645,203 shares of the semiconductor company's stock worth $151,319,000 after buying an additional 200,816 shares during the period. Meitav Investment House Ltd. raised its position in Nova by 28.1% during the 2nd quarter. Meitav Investment House Ltd. now owns 556,839 shares of the semiconductor company's stock worth $130,258,000 after buying an additional 122,218 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in Nova by 7.2% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,195,985 shares of the semiconductor company's stock valued at $280,494,000 after acquiring an additional 80,500 shares during the period. Institutional investors and hedge funds own 82.99% of the company's stock.

Wall Street Analyst Weigh In

NVMI has been the topic of a number of research reports. Citigroup lowered shares of Nova from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $273.00 to $224.00 in a research note on Monday, September 16th. Benchmark increased their price target on Nova from $240.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Nova in a 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $227.80.

Nova Price Performance

NVMI stock traded up $11.37 during midday trading on Friday, hitting $183.76. 163,108 shares of the stock traded hands, compared to its average volume of 191,017. The firm has a market cap of $5.34 billion, a P/E ratio of 34.16, a PEG ratio of 1.63 and a beta of 1.47. Nova Ltd. has a 1-year low of $124.42 and a 1-year high of $247.21. The stock's fifty day simple moving average is $192.84 and its 200-day simple moving average is $208.31.

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.