Nova Ltd. (NASDAQ:NVMI) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its stake in Nova Ltd. (NASDAQ:NVMI - Free Report) by 40.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,220 shares of the semiconductor company's stock after selling 4,987 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Nova were worth $1,504,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVMI. Migdal Insurance & Financial Holdings Ltd. increased its stake in Nova by 6.5% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,273,985 shares of the semiconductor company's stock worth $265,422,000 after purchasing an additional 78,000 shares during the period. Vanguard Group Inc. increased its stake in shares of Nova by 1.5% during the first quarter. Vanguard Group Inc. now owns 987,071 shares of the semiconductor company's stock worth $175,087,000 after buying an additional 14,115 shares during the period. Meitav Investment House Ltd. increased its stake in shares of Nova by 16.3% during the third quarter. Meitav Investment House Ltd. now owns 647,722 shares of the semiconductor company's stock worth $135,513,000 after buying an additional 90,883 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Nova by 45.2% during the second 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. Finally, Capital World Investors boosted its holdings in Nova by 22.3% in the first quarter. Capital World Investors now owns 450,868 shares of the semiconductor company's stock valued at $79,975,000 after purchasing an additional 82,322 shares in the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Nova Stock Performance

NVMI stock traded down $2.10 during trading on Monday, hitting $176.57. The stock had a trading volume of 97,790 shares, compared to its average volume of 188,858. The company's 50 day moving average price is $196.95 and its two-hundred day moving average price is $209.15. Nova Ltd. has a 1-year low of $120.67 and a 1-year high of $247.21. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 33.33, a price-to-earnings-growth ratio of 1.73 and a beta of 1.47.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NVMI. Needham & Company LLC reaffirmed a "hold" rating on shares of Nova in a report on Friday, November 8th. Citigroup downgraded Nova from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $273.00 to $224.00 in a report on Monday, September 16th. Finally, Benchmark increased their price objective on Nova from $240.00 to $245.00 and gave the company a "buy" rating 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 data from MarketBeat.com, Nova presently has a consensus rating of "Moderate Buy" and an average target price of $227.80.

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.