Nova (NASDAQ:NVMI) Upgraded at Citigroup

Citigroup upgraded shares of Nova (NASDAQ:NVMI) from a neutral rating to a buy rating in a research note released on Monday morning, Marketbeat reports. The brokerage currently has $240.00 target price on the semiconductor company’s stock, up from their previous target price of $226.00.

Several other brokerages have also recently commented on NVMI. Benchmark boosted their price target on shares of Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Needham & Company LLC reissued a “hold” rating on shares of Nova in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Nova presently has an average rating of “Moderate Buy” and a consensus target price of $231.00.

Nova Stock Up 1.5 %

Shares of NVMI stock opened at $219.71 on Monday. Nova has a 12 month low of $129.12 and a 12 month high of $247.21. The company’s fifty day simple moving average is $191.52 and its 200-day simple moving average is $204.11. The firm has a market cap of $6.38 billion, a PE ratio of 40.99, a P/E/G ratio of 1.78 and a beta of 1.42.

Hedge Funds Weigh In On Nova

Hedge funds and other institutional investors have recently bought and sold shares of the business. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Nova by 74.6% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,281,869 shares of the semiconductor company’s stock valued at $267,487,000 after buying an additional 547,833 shares during the last quarter. Franklin Resources Inc. raised its stake in Nova by 115.1% in the 3rd quarter. Franklin Resources Inc. now owns 661,282 shares of the semiconductor company’s stock valued at $146,515,000 after acquiring an additional 353,906 shares during the period. Y.D. More Investments Ltd boosted its position in Nova by 2,733.2% during the second quarter. Y.D. More Investments Ltd now owns 288,986 shares of the semiconductor company’s stock worth $67,510,000 after purchasing an additional 278,786 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Nova by 45.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 645,203 shares of the semiconductor company’s stock valued at $151,319,000 after purchasing an additional 200,816 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Nova in the third quarter valued at about $19,659,000. Institutional investors own 82.99% of the company’s stock.

About Nova

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.