Nova Ltd. (NASDAQ:NVMI) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its holdings in Nova Ltd. (NASDAQ:NVMI) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 741,486 shares of the semiconductor company’s stock after selling 31,900 shares during the quarter. Renaissance Technologies LLC owned 2.55% of Nova worth $173,901,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in NVMI. FSC Wealth Advisors LLC acquired a new stake in Nova in the second quarter worth about $79,000. Signaturefd LLC increased its stake in shares of Nova by 15.9% during the second quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock valued at $180,000 after acquiring an additional 105 shares during the period. Russell Investments Group Ltd. lifted its position in Nova by 46.2% in the first quarter. Russell Investments Group Ltd. now owns 1,038 shares of the semiconductor company’s stock worth $184,000 after purchasing an additional 328 shares during the period. OLD National Bancorp IN bought a new stake in shares of Nova in the 2nd quarter worth $205,000. Finally, D.A. Davidson & CO. acquired a new stake in shares of Nova in the fourth quarter valued at $210,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Benchmark boosted their price target on shares of Nova from $215.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Citigroup lowered shares of Nova from a “buy” rating to a “neutral” rating and cut their target price for the company from $273.00 to $224.00 in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $226.80.

Nova Stock Performance

Shares of NASDAQ:NVMI opened at $206.71 on Monday. Nova Ltd. has a 52 week low of $90.59 and a 52 week high of $247.21. The company has a market cap of $6.00 billion, a PE ratio of 47.63, a price-to-earnings-growth ratio of 2.49 and a beta of 1.46. The firm has a 50 day simple moving average of $214.26 and a 200 day simple moving average of $202.33.

Nova (NASDAQ:NVMI) last issued its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.43. The business had revenue of $156.86 million for the quarter, compared to the consensus estimate of $148.12 million. Nova had a return on equity of 20.76% and a net margin of 27.38%. Nova’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 earnings per share. On average, equities analysts predict that Nova Ltd. will post 5.63 earnings per share for the current year.

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.