Nova (NASDAQ:NVMI) Shares Gap Up – Here’s What Happened

Shares of Nova Ltd. (NASDAQ:NVMI) gapped up prior to trading on Wednesday . The stock had previously closed at $477.07, but opened at $506.35. Nova shares last traded at $480.6370, with a volume of 151,100 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group raised their price target on Nova from $360.00 to $390.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Bank of America boosted their price target on Nova from $380.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Benchmark upped their price target on shares of Nova from $280.00 to $345.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Nova in a report on Monday, December 22nd. Finally, Evercore ISI upped their target price on shares of Nova from $290.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Nova presently has an average rating of “Moderate Buy” and an average target price of $348.57.

Nova Stock 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 company has a market cap of $13.46 billion, a PE ratio of 59.85, a PEG ratio of 2.94 and a beta of 1.84. The business’s 50 day moving average is $364.16 and its two-hundred day moving average is $318.15.

Institutional Investors Weigh In On Nova

A number of hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP lifted its holdings in shares of Nova by 4.9% in the 2nd quarter. Wasatch Advisors LP now owns 2,200,948 shares of the semiconductor company’s stock valued at $605,701,000 after acquiring an additional 102,250 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd grew its position in Nova by 3.9% in the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,549,154 shares of the semiconductor company’s stock valued at $428,980,000 after acquiring an additional 58,600 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in Nova by 7.0% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,493,657 shares of the semiconductor company’s stock worth $490,502,000 after buying an additional 98,000 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Nova by 6.4% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,428,607 shares of the semiconductor company’s stock valued at $456,669,000 after acquiring an additional 86,438 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Nova by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 1,128,957 shares of the semiconductor company’s stock valued at $377,402,000 after purchasing an additional 15,195 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

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.