Brokerages Set Nova Ltd. (NASDAQ:NVMI) Target Price at $322.86

Nova Ltd. (NASDAQ:NVMI) has been given a consensus rating of “Moderate Buy” by the nine brokerages that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $348.5714.

Several equities analysts have issued reports on the company. Benchmark lifted their price objective on Nova from $280.00 to $345.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Evercore ISI lifted their price target on Nova from $290.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Bank of America upped their price target on shares of Nova from $380.00 to $450.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Morgan Stanley assumed coverage on shares of Nova in a research report on Monday, December 1st. They issued an “equal weight” rating and a $335.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nova in a research note on Monday, December 22nd.

Nova Price Performance

Shares of Nova stock opened at $445.70 on Friday. The stock has a market capitalization of $13.10 billion, a price-to-earnings ratio of 58.26, a P/E/G ratio of 2.69 and a beta of 1.84. The firm’s 50-day moving average price is $333.26 and its two-hundred day moving average price is $306.79. The company has a current ratio of 4.58, a quick ratio of 4.00 and a debt-to-equity ratio of 0.62. Nova has a 1-year low of $153.99 and a 1-year high of $450.93.

Institutional Investors Weigh In On Nova

Several hedge funds and other institutional investors have recently made changes to their positions in NVMI. American Century Companies Inc. grew its stake in shares of Nova by 9.6% during the second quarter. American Century Companies Inc. now owns 147,657 shares of the semiconductor company’s stock worth $40,635,000 after purchasing an additional 12,957 shares during the period. Congress Asset Management Co. lifted its stake in Nova by 2.7% in the third quarter. Congress Asset Management Co. now owns 286,076 shares of the semiconductor company’s stock valued at $91,447,000 after buying an additional 7,438 shares during the period. Cetera Investment Advisers boosted its holdings in Nova by 33.0% during the second quarter. Cetera Investment Advisers now owns 6,662 shares of the semiconductor company’s stock worth $1,833,000 after buying an additional 1,653 shares during the last quarter. Y.D. More Investments Ltd grew its position in shares of Nova by 6.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 318,035 shares of the semiconductor company’s stock worth $89,781,000 after buying an additional 20,114 shares during the period. Finally, Associated Banc Corp acquired a new position in shares of Nova during the 2nd quarter worth about $248,000. 82.99% of the stock is owned by institutional investors and hedge funds.

Nova Company Profile

Nova Measuring Instruments Ltd (NASDAQ: NVMI) develops and supplies advanced metrology and process control systems for the semiconductor manufacturing industry. The company’s core product line includes spectroscopic ellipsometry and scatterometry tools designed to measure film thickness, critical dimensions, overlay alignment and other key parameters that drive yield and performance in integrated circuit fabrication.

Founded in 1993 and headquartered in Rehovot, Israel, Nova Measuring Instruments has established itself as a critical partner to leading semiconductor foundries and device manufacturers.