Nova (NASDAQ:NVMI) Stock Price Up 4.3% – What’s Next?

Nova Ltd. (NASDAQ:NVMI) was up 4.3% during mid-day trading on Tuesday . The company traded as high as $198.53 and last traded at $198.53. Approximately 90,987 shares traded hands during trading, a decline of 52% from the average daily volume of 190,127 shares. The stock had previously closed at $190.41.

Wall Street Analyst Weigh In

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

Nova Stock Up 4.0 %

The stock’s 50-day simple moving average is $189.80 and its 200 day simple moving average is $207.00. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 35.52, a PEG ratio of 1.78 and a beta of 1.44.

Institutional Investors Weigh In On Nova

Large investors have recently bought and sold shares of the stock. Quarry LP raised its holdings in shares of Nova by 438.5% in the 3rd quarter. Quarry LP now owns 140 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 114 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Nova by 89.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 165 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 78 shares in the last quarter. Employees Retirement System of Texas purchased a new stake in Nova during the second quarter worth approximately $68,000. Signaturefd LLC boosted its holdings in Nova by 15.9% in the second quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock valued at $180,000 after purchasing an additional 105 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Nova in the second quarter valued at approximately $211,000. Hedge funds and other institutional investors own 82.99% of the company’s stock.

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.