Olympiad Research LP Invests $617,000 in Nova Ltd. (NASDAQ:NVMI)

Olympiad Research LP acquired a new position in shares of Nova Ltd. (NASDAQ:NVMI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,962 shares of the semiconductor company’s stock, valued at approximately $617,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Employees Retirement System of Texas acquired a new stake in Nova during the second quarter worth about $68,000. FSC Wealth Advisors LLC acquired a new stake in Nova during the second quarter worth about $79,000. Signaturefd LLC increased its position in Nova by 15.9% during the second quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock worth $180,000 after purchasing an additional 105 shares during the last quarter. OLD National Bancorp IN acquired a new stake in Nova during the second quarter worth about $205,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Nova during the second quarter worth about $211,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Nova Stock Performance

NASDAQ NVMI opened at $191.31 on Thursday. The firm has a 50 day simple moving average of $199.11 and a 200-day simple moving average of $207.60. Nova Ltd. has a one year low of $98.86 and a one year high of $247.21. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 39.77, a PEG ratio of 1.89 and a beta of 1.47.

Nova (NASDAQ:NVMI) last posted its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.18 by $0.43. Nova had a net margin of 27.38% and a return on equity of 20.76%. The business had revenue of $156.86 million during the quarter, compared to analyst estimates of $148.12 million. During the same quarter last year, the firm posted $0.97 earnings per share. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. Equities analysts predict that Nova Ltd. will post 5.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NVMI shares. Citigroup cut 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 lifted their price target on shares of Nova from $215.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Nova has a consensus rating of “Moderate Buy” and a consensus target price of $226.80.

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.