Migdal Insurance & Financial Holdings Ltd. Sells 42,000 Shares of Nova Ltd. $NVMI

Migdal Insurance & Financial Holdings Ltd. reduced its stake in shares of Nova Ltd. (NASDAQ:NVMI) by 2.9% during the third quarter, Holdings Channel.com reports. The firm owned 1,395,657 shares of the semiconductor company’s stock after selling 42,000 shares during the period. Nova accounts for about 4.8% of Migdal Insurance & Financial Holdings Ltd.’s portfolio, making the stock its 4th biggest position. Migdal Insurance & Financial Holdings Ltd.’s holdings in Nova were worth $446,136,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its position in shares of Nova by 13.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 306 shares of the semiconductor company’s stock worth $84,000 after buying an additional 37 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Nova by 3.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,200 shares of the semiconductor company’s stock valued at $375,000 after acquiring an additional 37 shares during the period. Bank Hapoalim BM raised its holdings in Nova by 5.1% during the third quarter. Bank Hapoalim BM now owns 910 shares of the semiconductor company’s stock worth $291,000 after purchasing an additional 44 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in Nova by 51.9% during the second quarter. SBI Securities Co. Ltd. now owns 164 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 56 shares in the last quarter. Finally, SkyOak Wealth LLC lifted its position in Nova by 5.2% in the third quarter. SkyOak Wealth LLC now owns 1,130 shares of the semiconductor company’s stock worth $361,000 after purchasing an additional 56 shares during the period. Institutional investors own 82.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on NVMI shares. Benchmark raised their target price on Nova from $280.00 to $345.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Weiss Ratings restated a “hold (c)” rating on shares of Nova in a research report on Monday, December 22nd. Jefferies Financial Group boosted their target price on shares of Nova from $360.00 to $390.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Morgan Stanley initiated coverage on shares of Nova in a report on Monday, December 1st. They set an “equal weight” rating and a $335.00 target price for the company. Finally, Bank of America upped their price target on Nova from $380.00 to $450.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $348.57.

Nova Stock Performance

Shares of NVMI opened at $452.09 on Wednesday. The company has a 50-day moving average of $338.68 and a two-hundred day moving average of $309.32. The stock has a market cap of $13.29 billion, a price-to-earnings ratio of 59.10, a PEG ratio of 2.69 and a beta of 1.84. The company has a debt-to-equity ratio of 0.62, a current ratio of 4.58 and a quick ratio of 4.00. Nova Ltd. has a one year low of $153.99 and a one year high of $462.90.

About Nova

Nova Measuring Instruments Ltd (NASDAQ: NVMI) develops and supplies advanced metrology and process control systems for the semiconductor manufacturing industry. The company’s core product line includes spectroscopic ellipsometry and scatterometry tools designed to measure film thickness, critical dimensions, overlay alignment and other key parameters that drive yield and performance in integrated circuit fabrication.

Founded in 1993 and headquartered in Rehovot, Israel, Nova Measuring Instruments has established itself as a critical partner to leading semiconductor foundries and device manufacturers.