Nova Ltd. (NASDAQ:NVMI) Receives $442.25 Consensus Target Price from Analysts

Nova Ltd. (NASDAQ:NVMI) has earned a consensus rating of “Buy” from the ten analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $442.25.

Several equities research analysts have weighed in on NVMI shares. Barclays started coverage on Nova in a report on Wednesday, March 11th. They issued an “overweight” rating and a $465.00 target price for the company. Evercore restated an “outperform” rating and issued a $485.00 price objective on shares of Nova in a report on Friday, February 13th. Citigroup upped their price objective on shares of Nova from $370.00 to $520.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Bank of America raised their target price 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, Weiss Ratings restated a “hold (c)” rating on shares of Nova in a report on Monday, December 22nd.

Nova Price Performance

Shares of NVMI stock opened at $442.23 on Friday. The company has a market capitalization of $14.05 billion, a P/E ratio of 55.21, a P/E/G ratio of 3.26 and a beta of 1.80. The company’s 50-day simple moving average is $448.97 and its two-hundred day simple moving average is $374.23. Nova has a one year low of $153.99 and a one year high of $507.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 6.28 and a quick ratio of 5.47.

Nova (NASDAQ:NVMI) last announced its quarterly earnings results on Friday, February 13th. The semiconductor company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.01. Nova had a return on equity of 22.90% and a net margin of 29.44%.The firm had revenue of $222.62 million during the quarter, compared to analyst estimates of $220.43 million. During the same quarter in the previous year, the business earned $1.94 earnings per share. Nova’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, equities analysts anticipate that Nova will post 7.52 EPS for the current year.

Institutional Trading of Nova

Hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC purchased a new position in shares of Nova in the 4th quarter valued at $29,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Nova during the 3rd quarter worth $40,000. CIBC Private Wealth Group LLC boosted its position in Nova by 75.7% during the third quarter. CIBC Private Wealth Group LLC now owns 130 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 56 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Nova by 2,042.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 143 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in Nova by 51.6% in the first quarter. Advisors Asset Management Inc. now owns 376 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 128 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

About Nova

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.