Nova (NASDAQ:NVMI) Reaches New 52-Week High - Should You Buy?

Shares of Nova Ltd. (NASDAQ:NVMI - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $289.90 and last traded at $275.60, with a volume of 121197 shares trading hands. The stock had previously closed at $245.43.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NVMI shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Nova in a research note on Friday. Citigroup upgraded Nova from a "neutral" rating to a "buy" rating and lifted their target price for the company from $226.00 to $240.00 in a report on Monday, January 6th. Benchmark boosted their target price on Nova from $245.00 to $295.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Cantor Fitzgerald began coverage on Nova in a research report on Monday, January 13th. They issued an "overweight" rating and a $275.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Nova presently has an average rating of "Moderate Buy" and an average price target of $246.67.

Nova Stock Performance

The company's 50-day moving average price is $223.02 and its 200-day moving average price is $207.65. The firm has a market capitalization of $7.78 billion, a PE ratio of 49.99, a PEG ratio of 2.07 and a beta of 1.44.

Nova (NASDAQ:NVMI - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The semiconductor company reported $1.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.82 by ($0.04). Nova had a return on equity of 21.35% and a net margin of 28.00%. The business had revenue of $194.77 million for the quarter, compared to analysts' expectations of $186.50 million. As a group, analysts anticipate that Nova Ltd. will post 5.78 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. boosted its position in shares of Nova by 14.6% in the 3rd quarter. Blue Trust Inc. now owns 1,202 shares of the semiconductor company's stock valued at $250,000 after purchasing an additional 153 shares during the period. Signaturefd LLC grew its stake in shares of Nova by 31.4% in the 3rd quarter. Signaturefd LLC now owns 1,008 shares of the semiconductor company's stock valued at $210,000 after purchasing an additional 241 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Nova by 29.5% during the third quarter. Assenagon Asset Management S.A. now owns 166,859 shares of the semiconductor company's stock worth $34,940,000 after purchasing an additional 38,005 shares during the last quarter. Semanteon Capital Management LP grew its position in Nova by 222.2% in the 3rd quarter. Semanteon Capital Management LP now owns 4,681 shares of the semiconductor company's stock valued at $975,000 after buying an additional 3,228 shares during the last quarter. Finally, Meitav Investment House Ltd. increased its stake in Nova by 16.3% in the 3rd quarter. Meitav Investment House Ltd. now owns 647,722 shares of the semiconductor company's stock valued at $135,513,000 after buying an additional 90,883 shares during the period. 82.99% of the stock is owned by hedge funds and other 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.