Nova (NASDAQ:NVMI) Shares Up 6.2% - What's Next?

Shares of Nova Ltd. (NASDAQ:NVMI - Get Free Report) were up 6.2% on Friday . The stock traded as high as $183.33 and last traded at $183.10. Approximately 21,366 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 190,364 shares. The stock had previously closed at $172.39.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Needham & Company LLC restated a "hold" rating on shares of Nova in a research report on Friday, November 8th. Benchmark increased their price target on Nova from $240.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Finally, Citigroup downgraded shares of Nova from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $273.00 to $224.00 in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $227.80.

Nova Price Performance

The firm has a fifty day simple moving average of $192.51 and a 200-day simple moving average of $208.30. The firm has a market cap of $5.34 billion, a P/E ratio of 34.28, a price-to-earnings-growth ratio of 1.63 and a beta of 1.47.

Hedge Funds Weigh In On Nova

A number of large investors have recently modified their holdings of the company. Quarry LP raised its holdings in Nova by 438.5% during the third quarter. Quarry LP now owns 140 shares of the semiconductor company's stock worth $29,000 after buying an additional 114 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Nova by 89.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 165 shares of the semiconductor company's stock worth $34,000 after acquiring an additional 78 shares during the last quarter. Employees Retirement System of Texas acquired a new position in Nova during the 2nd quarter valued at about $68,000. FSC Wealth Advisors LLC bought a new stake in Nova during the 2nd quarter worth approximately $79,000. Finally, Signaturefd LLC raised its stake in shares of Nova by 15.9% in the second quarter. Signaturefd LLC now owns 767 shares of the semiconductor company's stock worth $180,000 after purchasing an additional 105 shares during the last quarter. 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.