Nova (NASDAQ:NVMI) Price Target Cut to $280.00 by Analysts at Benchmark

Nova (NASDAQ:NVMI) had its price objective reduced by Benchmark from $295.00 to $280.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other equities research analysts also recently commented on the stock. Cantor Fitzgerald dropped their price objective on shares of Nova from $315.00 to $300.00 and set an “overweight” rating on the stock in a report on Friday, March 14th. Bank of America lowered their price target on shares of Nova from $310.00 to $248.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a report on Friday, February 14th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $269.60.

Nova Stock Down 1.7 %

Nova stock opened at $183.52 on Friday. The company has a market capitalization of $5.37 billion, a P/E ratio of 31.97, a P/E/G ratio of 2.55 and a beta of 1.66. The firm has a 50 day moving average price of $192.81 and a 200-day moving average price of $206.80. Nova has a twelve month low of $154.00 and a twelve month high of $289.90.

Nova (NASDAQ:NVMI) last released its earnings results on Thursday, May 8th. The semiconductor company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.10. Nova had a return on equity of 22.33% and a net margin of 27.33%. The business had revenue of $213.36 million during the quarter, compared to the consensus estimate of $210.10 million. During the same period last year, the business posted $1.39 earnings per share. The business’s revenue for the quarter was up 50.5% on a year-over-year basis. Equities analysts expect that Nova will post 7.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Nova

A number of institutional investors and hedge funds have recently modified their holdings of NVMI. ASR Vermogensbeheer N.V. purchased a new stake in Nova in the 1st quarter worth approximately $26,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Nova by 24.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 401 shares of the semiconductor company’s stock worth $79,000 after purchasing an additional 78 shares during the period. Quarry LP raised its position in shares of Nova by 187.1% in the fourth quarter. Quarry LP now owns 402 shares of the semiconductor company’s stock worth $79,000 after buying an additional 262 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Nova in the fourth quarter worth $112,000. Finally, Quadrant Capital Group LLC boosted its stake in Nova by 5.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,030 shares of the semiconductor company’s stock valued at $203,000 after buying an additional 51 shares during the period. 82.99% of the stock is owned by hedge funds and other institutional investors.

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.