Nova Ltd. (NASDAQ:NVMI) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC reduced its position in shares of Nova Ltd. (NASDAQ:NVMI) by 11.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,730 shares of the semiconductor company’s stock after selling 3,210 shares during the period. TimesSquare Capital Management LLC owned 0.09% of Nova worth $5,068,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NVMI. Quarry LP increased its position in shares of Nova by 438.5% during the third quarter. Quarry LP now owns 140 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 114 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Nova by 89.7% during the third quarter. Advisors Asset Management Inc. now owns 165 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 78 shares during the last quarter. Signaturefd LLC increased its position in shares of Nova by 31.4% during the third quarter. Signaturefd LLC now owns 1,008 shares of the semiconductor company’s stock valued at $210,000 after acquiring an additional 241 shares during the last quarter. Blue Trust Inc. increased its position in shares of Nova by 14.6% during the third quarter. Blue Trust Inc. now owns 1,202 shares of the semiconductor company’s stock valued at $250,000 after acquiring an additional 153 shares during the last quarter. Finally, Lifestyle Asset Management Inc. acquired a new stake in shares of Nova during the third quarter valued at about $257,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Nova Stock Performance

Shares of NVMI stock opened at $273.08 on Thursday. The stock has a market capitalization of $7.93 billion, a P/E ratio of 47.57, a price-to-earnings-growth ratio of 2.79 and a beta of 1.44. The company has a 50 day moving average price of $227.68 and a 200 day moving average price of $209.36. Nova Ltd. has a fifty-two week low of $154.54 and a fifty-two week high of $289.90.

Nova (NASDAQ:NVMI) last issued its quarterly earnings results on Thursday, February 13th. The semiconductor company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.04). Nova had a return on equity of 22.33% and a net margin of 27.33%. The firm had revenue of $194.77 million during the quarter, compared to analysts’ expectations of $186.50 million. On average, research analysts forecast that Nova Ltd. will post 6.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Benchmark lifted their price target on shares of Nova from $245.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Needham & Company LLC reiterated a “hold” rating on shares of Nova in a research report on Friday, February 14th. Citigroup upgraded shares of Nova from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $226.00 to $240.00 in a report on Monday, January 6th. Finally, Cantor Fitzgerald assumed coverage on shares of Nova in a report on Monday, January 13th. They issued an “overweight” rating and a $275.00 price objective for the company. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Nova has a consensus rating of “Moderate Buy” and an average target price of $246.67.

About Nova

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.