Point72 Asset Management L.P. Trims Stock Holdings in Nova Ltd. (NASDAQ:NVMI)

Point72 Asset Management L.P. lowered its position in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 67.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,284 shares of the semiconductor company's stock after selling 51,173 shares during the quarter. Point72 Asset Management L.P. owned 0.08% of Nova worth $5,059,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Evergreen Capital Management LLC boosted its stake in shares of Nova by 5.0% during the second quarter. Evergreen Capital Management LLC now owns 1,230 shares of the semiconductor company's stock valued at $288,000 after purchasing an additional 59 shares during the period. Advisors Asset Management Inc. raised its stake in Nova by 89.7% in the 3rd 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 last quarter. Signaturefd LLC boosted its position in shares of Nova by 15.9% during the 2nd quarter. Signaturefd LLC now owns 767 shares of the semiconductor company's stock valued at $180,000 after acquiring an additional 105 shares during the last quarter. Morse Asset Management Inc lifted its stake in shares of Nova by 3.2% in the 3rd quarter. Morse Asset Management Inc now owns 4,030 shares of the semiconductor company's stock valued at $840,000 after purchasing an additional 125 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Nova by 3.4% in the 2nd quarter. TD Asset Management Inc now owns 4,176 shares of the semiconductor company's stock valued at $980,000 after buying an additional 136 shares during the period. Institutional investors own 82.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NVMI shares. Needham & Company LLC reiterated a "hold" rating on shares of Nova in a research note on Friday, November 8th. Citigroup lowered Nova from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $273.00 to $224.00 in a research report on Monday, September 16th. Finally, Benchmark increased their target price on Nova from $240.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $227.80.

Nova Stock Up 2.0 %

Shares of NVMI stock traded up $3.87 on Monday, reaching $199.05. The stock had a trading volume of 287,929 shares, compared to its average volume of 191,705. The firm's 50-day moving average is $191.00 and its two-hundred day moving average is $207.95. Nova Ltd. has a 12 month low of $127.47 and a 12 month high of $247.21. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of 36.41, a P/E/G ratio of 1.84 and a beta of 1.44.

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.