Analysts Set Nova Ltd. (NASDAQ:NVMI) Target Price at $238.33

Nova Ltd. (NASDAQ:NVMI) has received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $238.33.

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Nova in a research report on Monday, January 13th. They issued an “overweight” rating and a $275.00 price objective for the company. Benchmark upped their price target on shares of Nova from $240.00 to $245.00 and gave the company 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 note on Friday, November 8th. Finally, Citigroup raised shares of Nova from a “neutral” rating to a “buy” rating and upped their target price for the stock from $226.00 to $240.00 in a report on Monday, January 6th.

Nova Price Performance

NASDAQ:NVMI opened at $256.88 on Friday. The firm has a 50-day moving average of $199.46 and a 200-day moving average of $204.00. The company has a market cap of $7.46 billion, a PE ratio of 47.93, a PEG ratio of 2.03 and a beta of 1.42. Nova has a one year low of $141.61 and a one year high of $266.13.

Hedge Funds Weigh In On Nova

Several institutional investors and hedge funds have recently made changes to their positions in NVMI. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Nova by 74.6% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,281,869 shares of the semiconductor company’s stock valued at $267,487,000 after purchasing an additional 547,833 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Nova by 115.1% in the 3rd quarter. Franklin Resources Inc. now owns 661,282 shares of the semiconductor company’s stock worth $146,515,000 after purchasing an additional 353,906 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Nova during the 3rd quarter valued at about $19,659,000. Meitav Investment House Ltd. lifted its position in Nova by 16.3% during the 3rd quarter. Meitav Investment House Ltd. now owns 647,722 shares of the semiconductor company’s stock valued at $135,513,000 after acquiring an additional 90,883 shares during the period. Finally, Two Sigma Advisers LP lifted its position in Nova by 121.9% during the 3rd quarter. Two Sigma Advisers LP now owns 145,100 shares of the semiconductor company’s stock valued at $30,230,000 after acquiring an additional 79,700 shares during the period. 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.