Tower View Wealth Management LLC Trims Stake in Nova Ltd. (NASDAQ:NVMI)

Tower View Wealth Management LLC lowered its holdings in shares of Nova Ltd. (NASDAQ:NVMI) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,435 shares of the semiconductor company’s stock after selling 108 shares during the quarter. Nova accounts for 2.2% of Tower View Wealth Management LLC’s portfolio, making the stock its 19th biggest holding. Tower View Wealth Management LLC owned about 0.07% of Nova worth $4,049,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its holdings in shares of Nova by 231.2% in the 1st quarter. BNP Paribas Financial Markets now owns 31,083 shares of the semiconductor company’s stock valued at $5,514,000 after purchasing an additional 21,699 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Nova by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 987,071 shares of the semiconductor company’s stock worth $175,087,000 after purchasing an additional 14,115 shares during the last quarter. Tidal Investments LLC bought a new stake in Nova during the first quarter valued at about $2,589,000. Sei Investments Co. grew its stake in Nova by 12.7% in the first quarter. Sei Investments Co. now owns 128,423 shares of the semiconductor company’s stock valued at $22,780,000 after purchasing an additional 14,508 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Nova during the first quarter valued at about $38,661,000. 82.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Citigroup downgraded shares of 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 report on Monday, September 16th. Benchmark upped their price target on Nova from $215.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Nova currently has an average rating of “Moderate Buy” and an average target price of $226.80.

Nova Trading Up 2.1 %

Shares of Nova stock opened at $188.05 on Monday. The firm’s 50 day simple moving average is $204.97 and its two-hundred day simple moving average is $206.59. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 43.18, a PEG ratio of 1.89 and a beta of 1.46. Nova Ltd. has a 12-month low of $91.39 and a 12-month high of $247.21.

Nova (NASDAQ:NVMI) last released its earnings results on Thursday, August 8th. The semiconductor company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.43. Nova had a return on equity of 20.76% and a net margin of 27.38%. The firm had revenue of $156.86 million for the quarter, compared to the consensus estimate of $148.12 million. During the same period in the prior year, the firm earned $0.97 EPS. The firm’s revenue was up 27.8% on a year-over-year basis. On average, sell-side analysts predict that Nova Ltd. will post 5.63 EPS for the current fiscal 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.