Nova (NASDAQ:NVMI) Sees Large Volume Increase

Nova Ltd. (NASDAQ:NVMI) saw an uptick in trading volume on Wednesday . 822,040 shares traded hands during trading, an increase of 398% from the previous session’s volume of 165,015 shares.The stock last traded at $168.71 and had previously closed at $168.18.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NVMI. Benchmark increased their target price on Nova from $150.00 to $187.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Evercore ISI began coverage on Nova in a research report on Tuesday, April 16th. They set an “outperform” rating and a $210.00 target price on the stock.

Nova Trading Up 2.6 %

The business has a fifty day simple moving average of $173.41 and a two-hundred day simple moving average of $142.53. The company has a market cap of $4.90 billion, a PE ratio of 39.93, a price-to-earnings-growth ratio of 6.32 and a beta of 1.41.

Nova (NASDAQ:NVMI) last announced its quarterly earnings data on Thursday, February 15th. The semiconductor company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.14. The company had revenue of $134.22 million for the quarter, compared to analyst estimates of $128.00 million. Nova had a return on equity of 20.55% and a net margin of 26.32%. Equities analysts expect that Nova Ltd. will post 4.87 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC raised its holdings in shares of Nova by 20.6% during the 3rd quarter. Signaturefd LLC now owns 672 shares of the semiconductor company’s stock worth $76,000 after acquiring an additional 115 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Nova by 12.0% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 2,215 shares of the semiconductor company’s stock worth $249,000 after acquiring an additional 237 shares during the period. Bank Hapoalim BM raised its holdings in shares of Nova by 13.1% during the 4th quarter. Bank Hapoalim BM now owns 2,166 shares of the semiconductor company’s stock worth $298,000 after acquiring an additional 251 shares during the period. Asset Dedication LLC purchased a new position in shares of Nova during the 3rd quarter worth $34,000. Finally, Van ECK Associates Corp raised its holdings in shares of Nova by 6.7% during the 3rd quarter. Van ECK Associates Corp now owns 6,223 shares of the semiconductor company’s stock worth $700,000 after acquiring an additional 389 shares during the period. Hedge funds and other 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.