SkyOak Wealth LLC Invests $327,000 in Nova Ltd. (NASDAQ:NVMI)

SkyOak Wealth LLC purchased a new stake in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,658 shares of the semiconductor company's stock, valued at approximately $327,000.

Other hedge funds have also added to or reduced their stakes in the company. 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 purchasing an additional 78 shares during the period. Quarry LP lifted its position in Nova by 438.5% in the 3rd 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. Morse Asset Management Inc lifted its position in Nova by 3.2% in the 3rd quarter. Morse Asset Management Inc now owns 4,030 shares of the semiconductor company's stock worth $840,000 after buying an additional 125 shares during the last quarter. TFB Advisors LLC increased its stake in Nova by 9.0% in the 3rd quarter. TFB Advisors LLC now owns 1,848 shares of the semiconductor company's stock worth $385,000 after purchasing an additional 152 shares during the period. Finally, Blue Trust Inc. increased its stake in Nova by 14.6% in the 3rd quarter. Blue Trust Inc. now owns 1,202 shares of the semiconductor company's stock worth $250,000 after purchasing an additional 153 shares during the period. Institutional investors and hedge funds own 82.99% of the company's stock.

Nova Trading Up 3.4 %

Shares of Nova stock traded up $8.18 on Wednesday, hitting $249.69. 92,620 shares of the company traded hands, compared to its average volume of 218,899. The stock's 50 day moving average price is $211.84 and its 200-day moving average price is $204.84. Nova Ltd. has a 52 week low of $144.64 and a 52 week high of $266.13. The company has a market cap of $7.25 billion, a PE ratio of 46.55, a PEG ratio of 2.00 and a beta of 1.44.

Analysts Set New Price Targets

NVMI has been the topic of several research analyst reports. Benchmark boosted their target price on Nova from $240.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Citigroup upgraded shares of Nova from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $226.00 to $240.00 in a research note on Monday, January 6th. Cantor Fitzgerald assumed coverage on shares of Nova in a research report on Monday, January 13th. They set an "overweight" rating and a $275.00 target price for the company. Finally, Needham & Company LLC reissued a "hold" rating on shares of Nova in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Nova currently has a consensus rating of "Moderate Buy" and an average target price of $238.33.

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.