Nova (NASDAQ:NVMI) Sets New 52-Week High – What’s Next?

Nova Ltd. (NASDAQ:NVMI)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $289.90 and last traded at $275.60, with a volume of 121197 shares. The stock had previously closed at $245.43.

Wall Street Analyst Weigh In

A number of research firms recently commented on NVMI. Benchmark lifted their price target on shares of Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Nova in a research report on Friday, November 8th. Citigroup upgraded Nova from a “neutral” rating to a “buy” rating and increased their price target for the stock from $226.00 to $240.00 in a report on Monday, January 6th. Finally, Cantor Fitzgerald began coverage on Nova in a research note on Monday, January 13th. They set an “overweight” rating and a $275.00 price target for the company. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $238.33.

Nova Stock Up 4.9 %

The firm has a 50 day moving average of $219.90 and a 200-day moving average of $206.68. The company has a market cap of $7.48 billion, a P/E ratio of 48.70, a PEG ratio of 2.07 and a beta of 1.44.

Nova (NASDAQ:NVMI) last posted 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 21.35% and a net margin of 28.00%. On average, research analysts predict that Nova Ltd. will post 5.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Nova

Large investors have recently modified their holdings of the business. Quarry LP increased its holdings in 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 buying an additional 114 shares during the period. Advisors Asset Management Inc. boosted its position in Nova by 89.7% during the 3rd 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 in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Nova by 24.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 401 shares of the semiconductor company’s stock valued at $79,000 after acquiring an additional 78 shares during the period. SBI Securities Co. Ltd. bought a new stake in Nova during the fourth quarter valued at about $112,000. Finally, Quadrant Capital Group LLC raised its holdings in Nova by 5.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,030 shares of the semiconductor company’s stock worth $203,000 after purchasing an additional 51 shares in the last quarter. Institutional investors own 82.99% of the company’s stock.

Nova Company 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.