Olympiad Research LP Makes New $617,000 Investment in Nova Ltd. (NASDAQ:NVMI)

Olympiad Research LP purchased a new position in shares of Nova Ltd. (NASDAQ:NVMI) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 2,962 shares of the semiconductor company’s stock, valued at approximately $617,000.

A number of other hedge funds have also recently added to or reduced their stakes in NVMI. Y.D. More Investments Ltd increased its stake in Nova by 2,733.2% in the 2nd quarter. Y.D. More Investments Ltd now owns 288,986 shares of the semiconductor company’s stock valued at $67,510,000 after purchasing an additional 278,786 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in Nova in the 1st quarter valued at $38,661,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Nova by 45.2% during the second 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 during the last quarter. Meitav Investment House Ltd. lifted its position in Nova by 28.1% during the second quarter. Meitav Investment House Ltd. now owns 556,839 shares of the semiconductor company’s stock worth $130,258,000 after buying an additional 122,218 shares during the period. Finally, Grandeur Peak Global Advisors LLC acquired a new position in shares of Nova during the 1st quarter valued at about $15,195,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NVMI. Benchmark increased their price target on shares of Nova from $215.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Citigroup lowered Nova from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $273.00 to $224.00 in a research note on Monday, September 16th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $226.80.

Nova Trading Up 5.5 %

Shares of Nova stock opened at $191.31 on Thursday. Nova Ltd. has a twelve month low of $98.86 and a twelve month high of $247.21. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 39.77, a price-to-earnings-growth ratio of 1.89 and a beta of 1.47. The company has a fifty day moving average price of $199.11 and a 200 day moving average price of $207.60.

Nova (NASDAQ:NVMI) last issued its earnings results on Thursday, August 8th. The semiconductor company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.43. The company had revenue of $156.86 million during 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%. The company’s revenue was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 earnings per share. Analysts forecast 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.