Nova (NASDAQ:NVMI) Sets New 1-Year High – Here’s What Happened

Nova Ltd. (NASDAQ:NVMI) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $479.32 and last traded at $481.2950, with a volume of 63609 shares trading hands. The stock had previously closed at $462.06.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Evercore ISI upped their price target on Nova from $290.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Weiss Ratings restated a “hold (c)” rating on shares of Nova in a report on Monday, December 22nd. Morgan Stanley initiated coverage on Nova in a report on Monday, December 1st. They issued an “equal weight” rating and a $335.00 target price on the stock. Bank of America lifted their price target on shares of Nova from $380.00 to $450.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Finally, Jefferies Financial Group upped their price objective on shares of Nova from $360.00 to $390.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Nova currently has a consensus rating of “Moderate Buy” and an average price target of $348.57.

Nova Price Performance

The company has a current ratio of 4.58, a quick ratio of 4.00 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average of $359.72 and a 200 day moving average of $316.89. The firm has a market capitalization of $14.63 billion, a PE ratio of 65.05, a price-to-earnings-growth ratio of 2.88 and a beta of 1.84.

Institutional Investors Weigh In On Nova

A number of hedge funds have recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in Nova by 660.4% during the first quarter. Royal Bank of Canada now owns 10,668 shares of the semiconductor company’s stock worth $1,966,000 after buying an additional 9,265 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Nova by 51.6% during the 1st quarter. Advisors Asset Management Inc. now owns 376 shares of the semiconductor company’s stock worth $69,000 after purchasing an additional 128 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Nova by 13.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 306 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 37 shares during the last quarter. Signaturefd LLC grew its holdings in Nova by 8.3% during the second quarter. Signaturefd LLC now owns 928 shares of the semiconductor company’s stock valued at $255,000 after purchasing an additional 71 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in shares of Nova by 166.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 3,459 shares of the semiconductor company’s stock worth $952,000 after acquiring an additional 2,160 shares during the period. 82.99% of the stock is currently owned by institutional investors.

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.