Summit Partners Public Asset Management LLC Trims Stake in Nova Ltd. (NASDAQ:NVMI)

Summit Partners Public Asset Management LLC lessened its holdings in shares of Nova Ltd. (NASDAQ:NVMI) by 77.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,000 shares of the semiconductor company’s stock after selling 139,281 shares during the period. Summit Partners Public Asset Management LLC’s holdings in Nova were worth $8,334,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Advisors Asset Management Inc. boosted its holdings 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 during the period. Employees Retirement System of Texas bought a new position in shares of Nova in the second quarter worth about $68,000. FSC Wealth Advisors LLC purchased a new position in Nova in the 2nd quarter worth about $79,000. Signaturefd LLC lifted its holdings in Nova by 15.9% during the 2nd quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock valued at $180,000 after buying an additional 105 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Nova by 46.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,038 shares of the semiconductor company’s stock valued at $184,000 after buying an additional 328 shares during the period. Institutional investors own 82.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a research note on Friday, November 8th. Benchmark lifted their target price on Nova from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Citigroup downgraded 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 report on Monday, September 16th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Nova has a consensus rating of “Moderate Buy” and a consensus target price of $227.80.

Nova Stock Down 1.2 %

Nova stock opened at $172.39 on Friday. The firm has a market cap of $5.01 billion, a P/E ratio of 32.16, a P/E/G ratio of 1.63 and a beta of 1.47. The business has a fifty day moving average of $192.84 and a two-hundred day moving average of $208.31. Nova Ltd. has a twelve month low of $123.44 and a twelve month high of $247.21.

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.