Meitav Investment House Ltd. reduced its stake in shares of Nova Ltd. (NASDAQ:NVMI – Free Report) by 3.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 728,214 shares of the semiconductor company’s stock after selling 24,834 shares during the period. Nova makes up approximately 1.2% of Meitav Investment House Ltd.’s investment portfolio, making the stock its 24th biggest holding. Meitav Investment House Ltd. owned 2.53% of Nova worth $68,792,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in NVMI. Principal Financial Group Inc. lifted its position in Nova by 7.9% during the fourth quarter. Principal Financial Group Inc. now owns 276,981 shares of the semiconductor company’s stock valued at $22,624,000 after purchasing an additional 20,168 shares during the period. Jennison Associates LLC purchased a new stake in shares of Nova during the 1st quarter worth about $394,000. MQS Management LLC raised its position in shares of Nova by 5.2% during the 4th quarter. MQS Management LLC now owns 4,784 shares of the semiconductor company’s stock worth $391,000 after purchasing an additional 235 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of Nova during the 1st quarter worth about $1,504,000. Finally, Phoenix Holdings Ltd. raised its position in shares of Nova by 5.5% during the 4th quarter. Phoenix Holdings Ltd. now owns 211,355 shares of the semiconductor company’s stock worth $16,932,000 after purchasing an additional 10,926 shares during the last quarter. 71.39% of the stock is currently owned by institutional investors and hedge funds.
Nova Stock Down 0.7 %
NVMI stock traded down $0.87 during midday trading on Tuesday, hitting $120.26. The company’s stock had a trading volume of 45,986 shares, compared to its average volume of 119,108. Nova Ltd. has a 52-week low of $67.40 and a 52-week high of $126.48. The firm has a market capitalization of $3.46 billion, a P/E ratio of 28.37, a PEG ratio of 8.12 and a beta of 1.24. The firm has a 50-day simple moving average of $116.33 and a 200-day simple moving average of $104.07.
Wall Street Analysts Forecast Growth
NVMI has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of Nova in a report on Thursday, August 17th. They issued a “hold” rating for the company. Needham & Company LLC downgraded shares of Nova from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, Benchmark increased their price objective on shares of Nova from $106.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Nova currently has an average rating of “Moderate Buy” and an average target price of $118.00.
Nova Company 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.