Hsbc Holdings PLC bought a new position in shares of Nova Ltd. (NASDAQ:NVMI – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 17,438 shares of the semiconductor company’s stock, valued at approximately $9,363,000.
Several other large investors have also recently made changes to their positions in NVMI. Royal Bank of Canada lifted its stake in Nova by 660.4% during the first quarter. Royal Bank of Canada now owns 10,668 shares of the semiconductor company’s stock worth $1,966,000 after purchasing an additional 9,265 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Nova by 51.6% in the first quarter. Advisors Asset Management Inc. now owns 376 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 128 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Nova in the second quarter valued at approximately $5,445,000. EverSource Wealth Advisors LLC increased its stake in Nova by 62.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the semiconductor company’s stock worth $72,000 after buying an additional 100 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Nova during the 2nd quarter worth approximately $1,886,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Nova from $494.00 to $540.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. Needham & Company LLC cut their target price on shares of Nova from $640.00 to $570.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Zacks Research raised shares of Nova from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Wall Street Zen upgraded shares of Nova from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Citigroup lowered their price target on shares of Nova from $595.00 to $550.00 and set a “buy” rating for the company in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $514.44.
Insider Activity at Nova
In other news, CEO Gabriel Waisman sold 2,966 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer owned 28,714 shares in the company, valued at approximately $14,394,328.20. This represents a 9.36% decrease in their position. The sale was disclosed in a 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 Sarit Sagiv sold 454 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $536.52, for a total transaction of $243,580.08. Following the completion of the transaction, the director directly owned 1,951 shares in the company, valued at $1,046,750.52. This trade represents a 18.88% 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. Insiders sold a total of 5,442 shares of company stock worth $2,905,622 in the last ninety days. Company insiders own 1.00% of the company’s stock.
Nova Price Performance
Shares of NASDAQ NVMI opened at $349.06 on Friday. The business has a 50-day moving average of $435.07 and a two-hundred day moving average of $468.19. The company has a market capitalization of $11.09 billion, a price-to-earnings ratio of 43.20, a price-to-earnings-growth ratio of 2.14 and a beta of 1.78. Nova Ltd. has a 1 year low of $232.73 and a 1 year high of $615.99.
Nova (NASDAQ:NVMI – Get Free Report) last issued its earnings results on Friday, August 7th. The semiconductor company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.10. The business had revenue of $254.96 million for 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 quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company earned $2.20 EPS. As a group, equities research analysts expect that Nova Ltd. will post 9.89 earnings per share for the current year.
Nova Company 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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