Y Intercept Hong Kong Ltd lessened its stake in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) by 54.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,062 shares of the semiconductor company's stock after selling 1,292 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Nova were worth $209,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Quarry LP increased its position 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 acquiring an additional 114 shares during the period. Advisors Asset Management Inc. increased its position in Nova by 89.7% during the third 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 period. Lifestyle Asset Management Inc. bought a new position in Nova during the third quarter worth about $257,000. Blue Trust Inc. increased its position in Nova by 6.1% during the fourth quarter. Blue Trust Inc. now owns 1,275 shares of the semiconductor company's stock worth $251,000 after acquiring an additional 73 shares during the period. Finally, SkyOak Wealth LLC bought a new position in Nova during the fourth quarter worth about $327,000. Institutional investors and hedge funds own 82.99% of the company's stock.
Wall Street Analysts Forecast Growth
NVMI has been the topic of a number of recent research reports. Benchmark raised their price target on shares of Nova from $245.00 to $295.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Cantor Fitzgerald started coverage on shares of Nova in a research report on Monday, January 13th. They set an "overweight" rating and a $275.00 price target on the stock. Needham & Company LLC reissued a "hold" rating on shares of Nova in a report on Friday, February 14th. Finally, Citigroup raised shares of Nova from a "neutral" rating to a "buy" rating and raised their target price for the company from $226.00 to $240.00 in a report on Monday, January 6th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Nova presently has an average rating of "Moderate Buy" and an average target price of $246.67.
View Our Latest Stock Analysis on NVMI
Nova Stock Performance
Shares of NVMI traded up $10.40 during mid-day trading on Friday, reaching $226.02. The company had a trading volume of 313,182 shares, compared to its average volume of 200,644. The company's 50 day simple moving average is $238.58 and its 200 day simple moving average is $211.52. Nova Ltd. has a 1-year low of $158.00 and a 1-year high of $289.90. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 39.38, a P/E/G ratio of 2.55 and a beta of 1.46.
Nova (NASDAQ:NVMI - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The semiconductor company reported $1.78 earnings per share for the quarter, missing analysts' consensus estimates of $1.82 by ($0.04). Nova had a net margin of 27.33% and a return on equity of 22.33%. The company had revenue of $194.77 million during the quarter, compared to analyst estimates of $186.50 million. As a group, equities analysts forecast that Nova Ltd. will post 7.52 earnings per share for the current fiscal year.
About Nova
(
Free Report)
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.
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