Quantbot Technologies LP lessened its position in Nova Ltd. (NASDAQ:NVMI - Free Report) by 38.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,329 shares of the semiconductor company's stock after selling 5,211 shares during the period. Quantbot Technologies LP's holdings in Nova were worth $1,640,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in Nova by 115.1% during the third quarter. Franklin Resources Inc. now owns 661,282 shares of the semiconductor company's stock worth $146,515,000 after purchasing an additional 353,906 shares during the period. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Nova by 7.9% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,383,339 shares of the semiconductor company's stock worth $272,517,000 after acquiring an additional 101,470 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Nova by 7.6% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,370,985 shares of the semiconductor company's stock worth $270,015,000 after acquiring an additional 97,000 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Nova in the 3rd quarter valued at $19,659,000. Finally, Two Sigma Advisers LP lifted its holdings in Nova by 121.9% during the 3rd quarter. Two Sigma Advisers LP now owns 145,100 shares of the semiconductor company's stock valued at $30,230,000 after purchasing an additional 79,700 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the stock. Benchmark upped their price objective on shares of Nova from $245.00 to $295.00 and gave the company a "buy" rating in a report on Friday, February 14th. Cantor Fitzgerald reduced their price objective on Nova from $315.00 to $300.00 and set an "overweight" rating for the company in a report on Friday, March 14th. Needham & Company LLC reiterated a "hold" rating on shares of Nova in a research note on Friday, February 14th. Finally, Citigroup upgraded Nova from a "neutral" rating to a "buy" rating and boosted their price target for the company from $226.00 to $240.00 in a research note on Monday, January 6th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Nova presently has a consensus rating of "Moderate Buy" and an average price target of $250.83.
Get Our Latest Research Report on Nova
Nova Price Performance
NVMI stock traded down $6.40 during midday trading on Friday, reaching $186.43. The company had a trading volume of 170,026 shares, compared to its average volume of 217,395. Nova Ltd. has a 1-year low of $158.00 and a 1-year high of $289.90. The stock has a 50 day moving average price of $236.01 and a 200-day moving average price of $210.52. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 32.48, a price-to-earnings-growth ratio of 2.55 and a beta of 1.46.
Nova (NASDAQ:NVMI - Get Free Report) last issued its earnings results on Thursday, February 13th. The semiconductor company reported $1.78 earnings per share for the quarter, missing analysts' consensus estimates of $1.82 by ($0.04). The business had revenue of $194.77 million during the quarter, compared to analyst estimates of $186.50 million. Nova had a net margin of 27.33% and a return on equity of 22.33%. As a group, research analysts anticipate that Nova Ltd. will post 7.52 earnings per share for the current year.
Nova 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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