Short Interest in Nova Ltd. (NASDAQ:NVMI) Declines By 30.0%

Nova Ltd. (NASDAQ:NVMI) was the recipient of a significant decline in short interest in October. As of October 15th, there was short interest totaling 1,420,000 shares, a decline of 30.0% from the September 30th total of 2,030,000 shares. Approximately 4.9% of the company’s stock are short sold. Based on an average trading volume of 398,200 shares, the days-to-cover ratio is currently 3.6 days. Based on an average trading volume of 398,200 shares, the days-to-cover ratio is currently 3.6 days. Approximately 4.9% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Nova in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Nova presently has an average rating of “Moderate Buy” and an average price target of $282.50.

Nova Price Performance

Nova stock traded up $3.11 during trading hours on Monday, reaching $347.75. The stock had a trading volume of 329,685 shares, compared to its average volume of 314,470. The company has a market cap of $10.22 billion, a price-to-earnings ratio of 47.31, a PEG ratio of 2.44 and a beta of 1.76. The business’s 50 day moving average price is $307.71 and its 200-day moving average price is $261.04. Nova has a 52 week low of $153.99 and a 52 week high of $361.32.

Nova (NASDAQ:NVMI) last announced its earnings results on Thursday, August 7th. The semiconductor company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.15. The business had revenue of $219.99 million during the quarter, compared to the consensus estimate of $214.95 million. Nova had a net margin of 29.10% and a return on equity of 24.36%. The firm’s revenue was up 40.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.61 earnings per share. Nova has set its Q3 2025 guidance at 2.020-2.220 EPS. On average, sell-side analysts forecast that Nova will post 7.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Nova

A number of large investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP raised its holdings in Nova by 4.9% in the second quarter. Wasatch Advisors LP now owns 2,200,948 shares of the semiconductor company’s stock worth $605,701,000 after purchasing an additional 102,250 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd raised its holdings in Nova by 3.9% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,549,154 shares of the semiconductor company’s stock worth $428,980,000 after purchasing an additional 58,600 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Nova by 13.1% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,437,657 shares of the semiconductor company’s stock worth $395,643,000 after purchasing an additional 166,672 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Nova by 6.4% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,428,607 shares of the semiconductor company’s stock valued at $456,669,000 after acquiring an additional 86,438 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Nova by 1.4% during the first quarter. Vanguard Group Inc. now owns 1,062,142 shares of the semiconductor company’s stock valued at $197,195,000 after acquiring an additional 14,360 shares in the last quarter. 82.99% of the stock is currently owned by institutional investors.

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.