Nova (NASDAQ:NVMI) Now Covered by Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Nova (NASDAQ:NVMI - Get Free Report) in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage set an "overweight" rating and a $275.00 price target on the semiconductor company's stock. Cantor Fitzgerald's price target points to a potential upside of 28.88% from the stock's previous close.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC restated a "hold" rating on shares of Nova in a research report on Friday, November 8th. Citigroup upgraded shares of Nova from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $226.00 to $240.00 in a research report on Monday, January 6th. Finally, Benchmark upped their price objective on shares of Nova from $240.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $238.33.

Nova Price Performance

Shares of NVMI traded down $4.35 during midday trading on Monday, hitting $213.37. 43,196 shares of the company traded hands, compared to its average volume of 184,728. The stock has a 50-day moving average of $193.31 and a 200-day moving average of $203.89. Nova has a one year low of $129.39 and a one year high of $247.21. The firm has a market cap of $6.20 billion, a P/E ratio of 39.81, a PEG ratio of 1.78 and a beta of 1.42.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP boosted its stake in shares of Nova by 438.5% during the third quarter. Quarry LP now owns 140 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 114 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Nova by 89.7% during the third quarter. Advisors Asset Management Inc. now owns 165 shares of the semiconductor company's stock valued at $34,000 after purchasing an additional 78 shares during the period. Employees Retirement System of Texas purchased a new stake in Nova in the second quarter worth $68,000. The Manufacturers Life Insurance Company purchased a new stake in Nova in the second quarter worth $211,000. Finally, Maven Securities LTD purchased a new stake in Nova in the second quarter worth $227,000. 82.99% of the stock is currently owned by institutional investors.

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.