Nova Ltd. (NASDAQ:NVMI – Get Rating) hit a new 52-week low on Wednesday after Bank of America lowered their price target on the stock from $140.00 to $115.00. Bank of America currently has a buy rating on the stock. Nova traded as low as $88.00 and last traded at $89.36, with a volume of 123993 shares. The stock had previously closed at $92.93.
Separately, StockNews.com assumed coverage on shares of Nova in a report on Thursday, March 31st. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Nova has a consensus rating of “Moderate Buy” and an average target price of $128.50.
A number of large investors have recently made changes to their positions in the stock. Jag Capital Management LLC purchased a new stake in Nova during the fourth quarter valued at about $261,000. Optimum Investment Advisors boosted its position in Nova by 9.1% during the first quarter. Optimum Investment Advisors now owns 6,000 shares of the semiconductor company’s stock valued at $653,000 after buying an additional 500 shares during the period. Phoenix Holdings Ltd. boosted its position in Nova by 34.6% during the first quarter. Phoenix Holdings Ltd. now owns 181,563 shares of the semiconductor company’s stock valued at $19,782,000 after buying an additional 46,686 shares during the period. Meitav Dash Investments Ltd. boosted its position in Nova by 13.3% during the first quarter. Meitav Dash Investments Ltd. now owns 677,481 shares of the semiconductor company’s stock valued at $73,858,000 after buying an additional 79,743 shares during the period. Finally, Royce & Associates LP boosted its position in Nova by 12.3% during the first quarter. Royce & Associates LP now owns 281,417 shares of the semiconductor company’s stock valued at $30,641,000 after buying an additional 30,860 shares during the period. Institutional investors own 78.65% of the company’s stock.
The firm’s 50-day simple moving average is $99.51 and its 200-day simple moving average is $111.45. The firm has a market capitalization of $2.56 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 2.46 and a beta of 1.19.
Nova (NASDAQ:NVMI – Get Rating) last posted its earnings results on Thursday, May 12th. The semiconductor company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.25. The company had revenue of $134.00 million during the quarter, compared to analyst estimates of $126.76 million. Nova had a net margin of 23.53% and a return on equity of 27.51%. Nova’s revenue for the quarter was up 59.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 earnings per share. As a group, equities analysts predict that Nova Ltd. will post 4.28 earnings per share for the current year.
Nova Company Profile (NASDAQ:NVMI)
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.
