Putnam Investments LLC trimmed its position in shares of Nova Ltd. (NASDAQ:NVMI – Free Report) by 1.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 185,454 shares of the semiconductor company’s stock after selling 1,999 shares during the period. Putnam Investments LLC owned 0.65% of Nova worth $19,374,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in shares of Nova by 109.0% in the third quarter. Tower Research Capital LLC TRC now owns 788 shares of the semiconductor company’s stock valued at $67,000 after acquiring an additional 411 shares during the period. Quadrant Capital Group LLC raised its stake in Nova by 134.9% during the fourth quarter. Quadrant Capital Group LLC now owns 827 shares of the semiconductor company’s stock worth $68,000 after acquiring an additional 475 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in Nova during the first quarter worth about $203,000. Penobscot Investment Management Company Inc. acquired a new position in Nova during the first quarter worth about $209,000. Finally, D.A. Davidson & CO. acquired a new position in Nova during the first quarter worth about $222,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have commented on NVMI. Benchmark boosted their target price on Nova from $106.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. StockNews.com started coverage on Nova in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Needham & Company LLC downgraded Nova from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $118.00.
Nova Price Performance
Nova stock opened at $116.96 on Friday. The business has a 50 day moving average of $119.51 and a 200-day moving average of $107.80. Nova Ltd. has a 1 year low of $67.40 and a 1 year high of $131.51. The company has a market capitalization of $3.30 billion, a P/E ratio of 27.39, a P/E/G ratio of 8.27 and a beta of 1.23.
Nova (NASDAQ:NVMI – Get Free Report) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.83 by $0.14. Nova had a return on equity of 23.03% and a net margin of 24.68%. The business had revenue of $122.70 million for the quarter, compared to analysts’ expectations of $121.00 million. Equities analysts anticipate that Nova Ltd. will post 4.03 EPS for the current year.
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.
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