Nova (NASDAQ:NVMI) Sets New 1-Year High – Here’s What Happened

Nova Ltd. (NASDAQ:NVMI)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $249.01 and last traded at $242.33, with a volume of 196734 shares traded. The stock had previously closed at $232.66.

Analyst Ratings Changes

NVMI has been the subject of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Nova in a research report on Friday, November 8th. Citigroup raised shares of Nova from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $226.00 to $240.00 in a research report on Monday, January 6th. Benchmark boosted their target price 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. Finally, Cantor Fitzgerald initiated coverage on shares of Nova in a research report on Monday. They set an “overweight” rating and a $275.00 target price for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $238.33.

Nova Trading Up 4.2 %

The stock’s 50-day simple moving average is $196.51 and its 200-day simple moving average is $204.19. The firm has a market capitalization of $7.04 billion, a P/E ratio of 45.21, a P/E/G ratio of 1.81 and a beta of 1.42.

Institutional Investors Weigh In On Nova

Institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP grew its position in Nova by 131.0% in the 3rd quarter. Quantbot Technologies LP now owns 13,540 shares of the semiconductor company’s stock worth $2,821,000 after purchasing an additional 7,678 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd grew its position in Nova by 74.6% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,281,869 shares of the semiconductor company’s stock worth $267,487,000 after purchasing an additional 547,833 shares in the last quarter. Two Sigma Advisers LP grew its position in Nova by 121.9% in the 3rd quarter. Two Sigma Advisers LP now owns 145,100 shares of the semiconductor company’s stock worth $30,230,000 after purchasing an additional 79,700 shares in the last quarter. LMR Partners LLP bought a new stake in Nova in the 3rd quarter worth about $15,669,000. Finally, Quadrature Capital Ltd bought a new position in shares of Nova during the 3rd quarter valued at approximately $967,000. 82.99% of the stock is owned by institutional investors.

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.