Nova Ltd. (NASDAQ:NVMI) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its position in Nova Ltd. (NASDAQ:NVMI - Free Report) by 23.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 17,265 shares of the semiconductor company's stock after selling 5,327 shares during the period. State of New Jersey Common Pension Fund D owned about 0.06% of Nova worth $3,597,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NVMI. Vanguard Group Inc. grew its holdings in Nova by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 987,071 shares of the semiconductor company's stock worth $175,087,000 after acquiring an additional 14,115 shares during the last quarter. Tidal Investments LLC bought a new stake in Nova in the first quarter worth $2,589,000. Sei Investments Co. boosted its stake in shares of Nova by 12.7% during the 1st quarter. Sei Investments Co. now owns 128,423 shares of the semiconductor company's stock worth $22,780,000 after purchasing an additional 14,508 shares during the period. Westfield Capital Management Co. LP bought a new position in shares of Nova during the 1st quarter worth $38,661,000. Finally, Capital World Investors lifted its position in Nova by 22.3% during the first quarter. Capital World Investors now owns 450,868 shares of the semiconductor company's stock valued at $79,975,000 after acquiring an additional 82,322 shares during the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.

Nova Trading Down 7.0 %

Shares of NVMI traded down $14.36 during trading hours on Wednesday, reaching $189.47. The stock had a trading volume of 392,539 shares, compared to its average volume of 188,641. The firm has a 50-day simple moving average of $197.87 and a 200 day simple moving average of $208.82. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 35.35, a P/E/G ratio of 1.97 and a beta of 1.47. Nova Ltd. has a 12 month low of $115.19 and a 12 month high of $247.21.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Benchmark increased their target price on shares of Nova from $240.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Needham & Company LLC reiterated a "hold" rating on shares of Nova in a research report on Friday, November 8th. Finally, Citigroup lowered shares of Nova from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $273.00 to $224.00 in a report on Monday, September 16th. Two investment 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $227.80.

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.