Concentric Capital Strategies LP Makes New Investment in Nova Ltd. (NASDAQ:NVMI)

Concentric Capital Strategies LP purchased a new stake in shares of Nova Ltd. (NASDAQ:NVMI) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,118 shares of the semiconductor company’s stock, valued at approximately $1,691,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd boosted its stake in Nova by 74.6% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,281,869 shares of the semiconductor company’s stock valued at $267,487,000 after purchasing an additional 547,833 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Nova by 6.5% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,273,985 shares of the semiconductor company’s stock valued at $265,422,000 after purchasing an additional 78,000 shares in the last quarter. Meitav Investment House Ltd. boosted its position in shares of Nova by 16.3% during the third quarter. Meitav Investment House Ltd. now owns 647,722 shares of the semiconductor company’s stock valued at $135,513,000 after buying an additional 90,883 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Nova by 45.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 645,203 shares of the semiconductor company’s stock worth $151,319,000 after buying an additional 200,816 shares in the last quarter. Finally, Y.D. More Investments Ltd raised its position in Nova by 2,733.2% in the 2nd quarter. Y.D. More Investments Ltd now owns 288,986 shares of the semiconductor company’s stock worth $67,510,000 after buying an additional 278,786 shares during the last quarter. Institutional investors own 82.99% of the company’s stock.

Nova Trading Up 3.7 %

NVMI opened at $190.50 on Tuesday. Nova Ltd. has a 12-month low of $124.42 and a 12-month high of $247.21. The company has a market cap of $5.53 billion, a price-to-earnings ratio of 35.54, a PEG ratio of 1.73 and a beta of 1.44. The company’s 50 day moving average is $192.29 and its 200 day moving average is $208.31.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NVMI shares. Benchmark raised 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. Citigroup downgraded shares of Nova from a “buy” rating to a “neutral” rating and cut their target price for the stock from $273.00 to $224.00 in a research report on Monday, September 16th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Nova in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $227.80.

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.