Nova Ltd. (NASDAQ:NVMI) Shares Sold by Summit Partners Public Asset Management LLC

Summit Partners Public Asset Management LLC lessened its holdings in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 77.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,000 shares of the semiconductor company's stock after selling 139,281 shares during the period. Summit Partners Public Asset Management LLC owned approximately 0.14% of Nova worth $8,334,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its holdings 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 in the last quarter. Vanguard Group Inc. increased its holdings in Nova by 1.5% in the first quarter. Vanguard Group Inc. now owns 987,071 shares of the semiconductor company's stock valued at $175,087,000 after buying an additional 14,115 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Nova during the 1st quarter valued at approximately $2,589,000. Virtu Financial LLC purchased a new stake in shares of Nova during the 1st quarter worth approximately $536,000. Finally, Burney Co. acquired a new stake in shares of Nova in the 1st quarter worth approximately $211,000. Hedge funds and other institutional investors own 82.99% of the company's stock.

Analysts Set New Price Targets

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

Nova Stock Up 6.6 %

Shares of NVMI stock traded up $11.37 during mid-day trading on Friday, hitting $183.76. 163,107 shares of the company's stock were exchanged, compared to its average volume of 191,017. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 1.63 and a beta of 1.47. The stock has a 50-day simple moving average of $192.51 and a two-hundred day simple moving average of $208.24. Nova Ltd. has a fifty-two week low of $124.42 and a fifty-two week high of $247.21.

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.