Nova (NASDAQ:NVMI) Research Coverage Started at Evercore ISI

Evercore ISI assumed coverage on shares of Nova (NASDAQ:NVMI) in a report issued on Tuesday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $210.00 target price on the semiconductor company’s stock.

Separately, Benchmark upped their price objective on Nova from $150.00 to $187.00 and gave the company a buy rating in a research report on Friday, February 16th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $170.67.

Nova Price Performance

Shares of NASDAQ:NVMI opened at $159.92 on Tuesday. The company has a market cap of $4.59 billion, a P/E ratio of 37.36, a PEG ratio of 6.45 and a beta of 1.41. Nova has a 1 year low of $87.85 and a 1 year high of $190.51. The stock’s fifty day moving average price is $172.74 and its 200-day moving average price is $140.90.

Nova (NASDAQ:NVMI) last announced its quarterly earnings results on Thursday, February 15th. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.14. The firm had revenue of $134.22 million for the quarter, compared to the consensus estimate of $128.00 million. Nova had a return on equity of 20.55% and a net margin of 26.32%. On average, sell-side analysts anticipate that Nova will post 4.87 earnings per share for the current year.

Institutional Trading of Nova

A number of hedge funds have recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. increased its position in Nova by 2.1% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,312,919 shares of the semiconductor company’s stock valued at $147,625,000 after acquiring an additional 27,050 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in Nova by 3.3% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,070,485 shares of the semiconductor company’s stock worth $147,074,000 after buying an additional 33,800 shares in the last quarter. Vanguard Group Inc. increased its position in Nova by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 972,956 shares of the semiconductor company’s stock worth $133,674,000 after buying an additional 13,891 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd increased its position in Nova by 74.9% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 604,977 shares of the semiconductor company’s stock worth $83,202,000 after buying an additional 259,021 shares in the last quarter. Finally, Invesco Ltd. increased its position in Nova by 118.1% in the third quarter. Invesco Ltd. now owns 428,132 shares of the semiconductor company’s stock worth $48,139,000 after buying an additional 231,862 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

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.