Nova (NASDAQ:NVMI) Sets New 1-Year High – Still a Buy?

Nova Ltd. (NASDAQ:NVMI) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $530.14 and last traded at $529.4250, with a volume of 13518 shares trading hands. The stock had previously closed at $528.76.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NVMI shares. Weiss Ratings reissued a “hold (c)” rating on shares of Nova in a report on Friday, April 10th. Zacks Research downgraded shares of Nova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 14th. Evercore reissued an “outperform” rating and set a $485.00 price target on shares of Nova in a report on Friday, February 13th. Citigroup boosted their price target on shares of Nova from $370.00 to $520.00 and gave the company a “buy” rating in a report on Friday, February 13th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $520.00 price target on shares of Nova in a report on Thursday, February 12th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $442.25.

Nova Stock Up 0.5%

The firm has a market cap of $16.89 billion, a price-to-earnings ratio of 66.20, a P/E/G ratio of 3.87 and a beta of 1.80. The firm’s fifty day moving average is $455.69 and its two-hundred day moving average is $389.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 6.28 and a quick ratio of 5.47.

Nova (NASDAQ:NVMI) last posted its quarterly earnings data on Friday, February 13th. The semiconductor company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.01. The business had revenue of $222.62 million during the quarter, compared to the consensus estimate of $220.43 million. Nova had a net margin of 29.44% and a return on equity of 22.90%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.94 earnings per share. On average, sell-side analysts expect that Nova Ltd. will post 7.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Nova

Several hedge funds and other institutional investors have recently bought and sold shares of NVMI. Smartleaf Asset Management LLC bought a new stake in Nova in the fourth quarter worth about $29,000. Measured Wealth Private Client Group LLC bought a new stake in Nova in the third quarter worth about $40,000. CIBC Private Wealth Group LLC raised its position in Nova by 75.7% in the third quarter. CIBC Private Wealth Group LLC now owns 130 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 56 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in Nova by 2,042.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 143 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position in Nova by 51.6% in the first quarter. Advisors Asset Management Inc. now owns 376 shares of the semiconductor company’s stock worth $69,000 after acquiring an additional 128 shares in the last quarter. 82.99% of the stock is currently owned by institutional investors.

Nova Company Profile

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.