Renaissance Technologies LLC cut its holdings in Nova Ltd. (NASDAQ:NVMI - Free Report) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 750,786 shares of the semiconductor company's stock after selling 4,700 shares during the quarter. Renaissance Technologies LLC owned 2.58% of Nova worth $147,867,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in NVMI. Quarry LP increased its holdings in Nova by 438.5% in the 3rd quarter. Quarry LP now owns 140 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 114 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Nova by 24.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 401 shares of the semiconductor company's stock valued at $79,000 after purchasing an additional 78 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Nova during the fourth quarter worth about $112,000. Quadrant Capital Group LLC raised its position in shares of Nova by 5.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,030 shares of the semiconductor company's stock worth $203,000 after purchasing an additional 51 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Nova by 79.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,182 shares of the semiconductor company's stock worth $233,000 after purchasing an additional 524 shares during the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.
Nova Stock Performance
Shares of NASDAQ NVMI traded up $1.80 during trading on Friday, hitting $179.78. 198,511 shares of the company were exchanged, compared to its average volume of 225,680. The company has a fifty day moving average price of $219.26 and a 200-day moving average price of $208.64. The firm has a market capitalization of $5.26 billion, a PE ratio of 31.32, a P/E/G ratio of 2.55 and a beta of 1.63. Nova Ltd. has a 12-month low of $154.00 and a 12-month high of $289.90.
Nova (NASDAQ:NVMI - Get Free Report) last issued its earnings results 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 return on equity of 22.33% and a net margin of 27.33%. The firm had revenue of $194.77 million for the quarter, compared to analysts' expectations of $186.50 million. Research analysts anticipate that Nova Ltd. will post 7.52 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have commented on NVMI. Citigroup upgraded Nova from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $226.00 to $240.00 in a research note on Monday, January 6th. Cantor Fitzgerald lowered their target price on shares of Nova from $315.00 to $300.00 and set an "overweight" rating on the stock in a research note on Friday, March 14th. Needham & Company LLC reissued a "hold" rating on shares of Nova in a research note on Friday, February 14th. Finally, Benchmark upped 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. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $250.83.
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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.
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