Quantbot Technologies LP Boosts Stake in Nova Ltd. (NASDAQ:NVMI)

Quantbot Technologies LP raised its stake in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 131.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,540 shares of the semiconductor company's stock after purchasing an additional 7,678 shares during the quarter. Quantbot Technologies LP's holdings in Nova were worth $2,821,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Advisors Asset Management Inc. increased its position 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 buying an additional 78 shares during the period. Employees Retirement System of Texas purchased a new position in shares of Nova during the 2nd quarter worth approximately $68,000. FSC Wealth Advisors LLC bought a new position in shares of Nova in the 2nd quarter worth approximately $79,000. Signaturefd LLC lifted its stake in shares of Nova by 15.9% in the 2nd quarter. Signaturefd LLC now owns 767 shares of the semiconductor company's stock valued at $180,000 after purchasing an additional 105 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Nova by 46.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,038 shares of the semiconductor company's stock valued at $184,000 after purchasing an additional 328 shares during the period. 82.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Nova Price Performance

Nova stock traded down $2.14 during mid-day trading on Thursday, reaching $172.39. The stock had a trading volume of 292,226 shares, compared to its average volume of 191,138. Nova Ltd. has a one year low of $123.44 and a one year high of $247.21. The company has a 50-day moving average price of $192.84 and a two-hundred day moving average price of $208.31. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 1.66 and a beta of 1.47.

Nova 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.