Nova Ltd. (NASDAQ:NVMI) Shares Sold by Invesco Ltd.

Invesco Ltd. decreased its position in shares of Nova Ltd. (NASDAQ:NVMI) by 88.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,625 shares of the semiconductor company’s stock after selling 900,372 shares during the quarter. Invesco Ltd. owned approximately 0.40% of Nova worth $22,772,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of NVMI. Franklin Resources Inc. boosted its holdings 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 purchasing an additional 353,906 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd raised its position in shares of Nova by 7.9% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,383,339 shares of the semiconductor company’s stock valued at $272,517,000 after buying an additional 101,470 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Nova by 7.6% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,370,985 shares of the semiconductor company’s stock valued at $270,015,000 after acquiring an additional 97,000 shares during the last quarter. Y.D. More Investments Ltd grew its position in Nova by 29.6% in the fourth quarter. Y.D. More Investments Ltd now owns 296,307 shares of the semiconductor company’s stock worth $58,423,000 after acquiring an additional 67,734 shares during the period. Finally, Meitav Investment House Ltd. increased its stake in Nova by 10.1% during the fourth quarter. Meitav Investment House Ltd. now owns 713,003 shares of the semiconductor company’s stock worth $140,455,000 after acquiring an additional 65,281 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Benchmark increased their price target on Nova from $245.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Bank of America lowered their target price on shares of Nova from $310.00 to $248.00 and set a “buy” rating for the company in a research note on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Nova in a research note on Friday, February 14th. Citigroup raised shares of Nova from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $226.00 to $240.00 in a research report on Monday, January 6th. Finally, Cantor Fitzgerald dropped their target price on shares of Nova from $315.00 to $300.00 and set an “overweight” rating for the company in a report on Friday, March 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $264.60.

Nova Price Performance

NVMI opened at $175.62 on Friday. The business has a fifty day moving average price of $212.08 and a 200 day moving average price of $207.70. Nova Ltd. has a 12 month low of $154.00 and a 12 month high of $289.90. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 2.55 and a beta of 1.63.

Nova (NASDAQ:NVMI) last released its quarterly earnings data on Thursday, February 13th. The semiconductor company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.04). The firm had revenue of $194.77 million for the quarter, compared to analysts’ expectations of $186.50 million. Nova had a return on equity of 22.33% and a net margin of 27.33%. On average, research analysts anticipate that Nova Ltd. will post 7.52 earnings per share 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.