Clal Insurance Enterprises Holdings Ltd Acquires 547,833 Shares of Nova Ltd. (NASDAQ:NVMI)

Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Nova Ltd. (NASDAQ:NVMI) by 74.6% during the 3rd quarter, Holdings Channel reports. The firm owned 1,281,869 shares of the semiconductor company’s stock after purchasing an additional 547,833 shares during the quarter. Nova comprises 2.4% of Clal Insurance Enterprises Holdings Ltd’s holdings, making the stock its 14th largest position. Clal Insurance Enterprises Holdings Ltd’s holdings in Nova were worth $267,487,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Nova by 6.5% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,273,985 shares of the semiconductor company’s stock worth $265,422,000 after buying an additional 78,000 shares in the last quarter. Vanguard Group Inc. increased its stake in Nova by 1.5% in the first quarter. Vanguard Group Inc. now owns 987,071 shares of the semiconductor company’s stock valued at $175,087,000 after purchasing an additional 14,115 shares in the last quarter. Meitav Investment House Ltd. raised its holdings 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 purchasing an additional 90,883 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Nova by 45.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 645,203 shares of the semiconductor company’s stock worth $151,319,000 after purchasing an additional 200,816 shares in the last quarter. Finally, Capital World Investors grew its position in Nova by 22.3% in the 1st quarter. Capital World Investors now owns 450,868 shares of the semiconductor company’s stock valued at $79,975,000 after purchasing an additional 82,322 shares during the period. Institutional investors and hedge funds own 82.99% of the company’s stock.

Nova Price Performance

Shares of NASDAQ NVMI opened at $179.76 on Friday. The stock has a market capitalization of $5.22 billion, a PE ratio of 33.54, a P/E/G ratio of 1.70 and a beta of 1.47. Nova Ltd. has a one year low of $123.44 and a one year high of $247.21. The business’s fifty day moving average price is $195.10 and its 200-day moving average price is $208.71.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NVMI shares. Benchmark raised their price objective on shares of Nova from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a research report on Friday, November 8th. Finally, Citigroup downgraded shares of Nova from a “buy” rating to a “neutral” rating and cut their price target for the stock from $273.00 to $224.00 in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $227.80.

Nova Profile

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.