Nova (NASDAQ:NVMI) Shares Up 3.9% – Here’s Why

Shares of Nova Ltd. (NASDAQ:NVMI) traded up 3.9% during mid-day trading on Tuesday . The stock traded as high as $207.27 and last traded at $207.06. 21,753 shares were traded during trading, a decline of 88% from the average session volume of 186,884 shares. The stock had previously closed at $199.28.

Analyst Ratings Changes

NVMI has been the topic of several research analyst reports. Benchmark lifted their price target on Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Nova in a research note on Friday. Finally, Citigroup cut Nova from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $273.00 to $224.00 in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $227.80.

Nova Trading Up 2.3 %

The firm has a market cap of $5.92 billion, a PE ratio of 37.18, a P/E/G ratio of 2.04 and a beta of 1.47. The business has a fifty day moving average price of $197.83 and a 200 day moving average price of $208.61.

Institutional Investors Weigh In On Nova

A number of institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew 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 buying an additional 78 shares in the last quarter. Employees Retirement System of Texas purchased a new stake in shares of Nova during the second quarter worth about $68,000. FSC Wealth Advisors LLC purchased a new stake in shares of Nova in the second quarter valued at approximately $79,000. Signaturefd LLC boosted its holdings in shares of Nova by 15.9% in the 2nd quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock valued at $180,000 after acquiring an additional 105 shares during the last quarter. Finally, OLD National Bancorp IN purchased a new stake in shares of Nova in the second quarter valued at about $205,000. 82.99% of the stock is owned by institutional investors and hedge funds.

Nova Company 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.