TimesSquare Capital Management LLC bought a new stake in Nova Ltd. (NASDAQ:NVMI – Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 28,870 shares of the semiconductor company’s stock, valued at approximately $15,675,000. TimesSquare Capital Management LLC owned 0.09% of Nova at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Plato Investment Management Ltd bought a new stake in shares of Nova during the second quarter valued at approximately $639,000. Global Retirement Partners LLC bought a new stake in Nova during the 2nd quarter valued at $354,000. Bank of New York Mellon Corp acquired a new position in Nova during the second quarter worth $25,214,000. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management bought a new position in shares of Nova in the second quarter valued at $45,534,000. Finally, Bank Hapoalim BM acquired a new position in shares of Nova during the second quarter valued at about $476,000. Institutional investors and hedge funds own 82.99% of the company’s stock.
Insider Activity at Nova
In other Nova news, CEO Gabriel Waisman sold 2,966 shares of Nova stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $501.30, for a total value of $1,486,855.80. Following the sale, the chief executive officer owned 28,714 shares of the company’s stock, valued at approximately $14,394,328.20. The trade was a 9.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Yaniv Garty sold 366 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $581.20, for a total transaction of $212,719.20. Following the completion of the transaction, the director owned 2,006 shares in the company, valued at approximately $1,165,887.20. The trade was a 15.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 6,946 shares of company stock worth $3,686,920. 1.00% of the stock is currently owned by corporate insiders.
Nova Price Performance
Nova (NASDAQ:NVMI – Get Free Report) last announced its earnings results on Friday, August 7th. The semiconductor company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.10. The firm had revenue of $254.96 million during the quarter, compared to analyst estimates of $250.33 million. Nova had a return on equity of 21.41% and a net margin of 28.84%.The business’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $2.20 EPS. Sell-side analysts anticipate that Nova Ltd. will post 9.74 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on NVMI shares. Evercore set a $475.00 target price on shares of Nova in a report on Friday, August 7th. Wall Street Zen upgraded Nova from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research upgraded shares of Nova from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Jefferies Financial Group reissued a “buy” rating and set a $600.00 price target on shares of Nova in a research report on Thursday, August 6th. Finally, Citigroup cut their price target on shares of Nova from $595.00 to $550.00 and set a “buy” rating on the stock in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $514.44.
Get Our Latest Stock Report on Nova
Nova 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.
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