Nova Ltd. (NASDAQ:NVMI – Get Rating) was the target of strong short-term interest growth during the month of May. As of May 31, there was short interest totaling 1,340,000 shares, up 45.5% from the May 15 total of 920,900 shares. Based on an average daily trading volume of 158,500 shares, the day-to-cover ratio is currently 8.5 days.
NVMI opened at $94.47 on Wednesday. The company has a 50-day moving average price of $100.74 and a 200-day moving average price of $113.92. The company has a market capitalization of $2.71 billion, a PE ratio of 26.31, a growth price-earnings ratio of 2.58 and a beta of 1.19. Nova has a 1-year minimum of $90.38 and a 1-year maximum of $149.15.
Nova (NASDAQ:NVMI – Get Rating) last released its quarterly results on Thursday, May 12. The semiconductor company reported earnings per share of $1.20 for the quarter, beating analysts’ consensus estimate of $0.95 by $0.25. Nova had a net margin of 23.53% and a return on equity of 27.51%. The company posted revenue of $134.00 million in the quarter, versus a consensus estimate of $126.76 million. In the same quarter last year, the company earned earnings per share of $0.62. The company’s quarterly revenue increased by 59.3% compared to the same quarter last year. On average, analysts expect Nova to post an EPS of 4.28 for the current year.
A number of institutional investors and hedge funds have recently changed their positions in NVMI. abrdn plc increased its stake in Nova by 46.7% during the first quarter. abrdn plc now owns 489,018 shares in the semiconductor company worth $54,208,000 after buying a further 155,759 shares in the last quarter. Morgan Stanley increased its stake in Nova by 565.1% in the second quarter. Morgan Stanley now owns 95,734 shares of the semiconductor company valued at $9,850,000 after buying an additional 81,340 shares in the last quarter. Meitav Dash Investments Ltd. increased its stake in Nova by 13.3% in the first quarter. Meitav Dash Investments Ltd. now owns 677,481 shares of the semiconductor company valued at $73,858,000 after purchasing an additional 79,743 shares in the last quarter. Menora Mivtachim Holdings LTD. increased its stake in Nova by 6.9% in the first quarter. Menora Mivtachim Holdings LTD. now owns 1,024,640 shares of the semiconductor company valued at $111,563,000 after purchasing an additional 66,171 shares in the last quarter. Finally, Phoenix Holdings Ltd. increased its stake in Nova by 34.6% in the first quarter. Phoenix Holdings Ltd. now owns 181,563 shares of the semiconductor company valued at $19,782,000 after purchasing an additional 46,686 shares in the last quarter. Hedge funds and other institutional investors own 78.65% of the company’s shares.
Several analysts have recently commented on NVMI shares. Needham & Company LLC cut its price target on Nova shares from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, February 25. Citigroup lowered its price target on Nova shares from $146.00 to $142.00 and set a “buy” rating on the stock in a research note on Friday, February 25. Finally, StockNews.com began covering Nova shares in a research note on Thursday, March 31. They set a “hold” rating on the stock. One analyst rated the stock with a hold rating and six rated the stock with a buy rating. According to MarketBeat.com, Nova has a consensus rating of “Buy” and a consensus price target of $136.00.
Nova Company Profile (Get a rating)
Nova Ltd. designs, develops, produces and sells process control systems used in semiconductor manufacturing in Israel, Taiwan, the United States, China, Korea and overseas. Its product portfolio includes a set of metrology platforms for dimensional, film and material measurements and chemical metrology for process control for various stages of the semiconductor manufacturing process, including lithography, etching, chemical mechanical planarization, deposition, electrochemical plating and advanced conditioning.
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