Nova Ltd. (NASDAQ:NVMI) Shares Sold by Citigroup Inc.

Citigroup Inc. reduced its stake in shares of Nova Ltd. (NASDAQ:NVMI) by 55.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,144 shares of the semiconductor company’s stock after selling 107,036 shares during the period. Citigroup Inc. owned 0.30% of Nova worth $18,156,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its stake in Nova by 46.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,038 shares of the semiconductor company’s stock valued at $184,000 after purchasing an additional 328 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Nova by 1.5% in the first quarter. Vanguard Group Inc. now owns 987,071 shares of the semiconductor company’s stock valued at $175,087,000 after buying an additional 14,115 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of Nova during the first quarter valued at approximately $2,589,000. Virtu Financial LLC acquired a new stake in Nova during the first quarter worth approximately $536,000. Finally, Burney Co. purchased a new stake in Nova in the 1st quarter worth approximately $211,000. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Analysts Set New Price Targets

NVMI has been the topic of a number of recent analyst reports. Benchmark increased their price target on Nova from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Nova in a research report on Friday, November 8th. Finally, Citigroup cut Nova from a “buy” rating to a “neutral” rating and lowered their price target for the company from $273.00 to $224.00 in a report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $227.80.

Nova Price Performance

NASDAQ NVMI opened at $172.39 on Thursday. Nova Ltd. has a 1-year low of $123.44 and a 1-year high of $247.21. The firm has a market capitalization of $5.01 billion, a P/E ratio of 32.16, a P/E/G ratio of 1.66 and a beta of 1.47. The business’s 50-day simple moving average is $193.50 and its 200-day simple moving average is $208.56.

Nova 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.