Needham Investment Management LLC lessened its holdings in Nova Ltd. (NASDAQ:NVMI – Free Report) by 4.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 111,750 shares of the semiconductor company’s stock after selling 5,000 shares during the quarter. Nova makes up about 2.3% of Needham Investment Management LLC’s holdings, making the stock its 9th largest holding. Needham Investment Management LLC’s holdings in Nova were worth $36,698,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of NVMI. Smartleaf Asset Management LLC purchased a new stake in shares of Nova in the 4th quarter worth approximately $29,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Nova in the 3rd quarter worth approximately $40,000. CIBC Private Wealth Group LLC lifted its position in shares of Nova by 75.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 130 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 56 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in shares of Nova by 2,042.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 143 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in shares of Nova by 51.6% in the 1st quarter. Advisors Asset Management Inc. now owns 376 shares of the semiconductor company’s stock worth $69,000 after purchasing an additional 128 shares during the period. Hedge funds and other institutional investors own 82.99% of the company’s stock.
Nova Stock Up 3.9%
NASDAQ:NVMI opened at $605.65 on Tuesday. Nova Ltd. has a 52 week low of $224.00 and a 52 week high of $615.99. The firm has a 50 day moving average of $510.74 and a 200 day moving average of $443.16. The stock has a market capitalization of $19.25 billion, a price-to-earnings ratio of 75.52, a PEG ratio of 4.23 and a beta of 1.75.
Insider Activity at Nova
In related news, Director Sarit Sagiv sold 426 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $514.49, for a total transaction of $219,172.74. Following the completion of the sale, the director owned 2,437 shares of the company’s stock, valued at $1,253,812.13. This represents a 14.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eitan Oppenhaim sold 1,504 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $519.48, for a total transaction of $781,297.92. Following the sale, the director directly owned 6,668 shares of the company’s stock, valued at $3,463,892.64. The trade was a 18.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 2,411 shares of company stock valued at $1,243,018 over the last 90 days. Insiders own 1.00% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on NVMI shares. Evercore reaffirmed an “outperform” rating and issued a $600.00 price target on shares of Nova in a research report on Friday, May 15th. Barclays upped their price target on shares of Nova from $465.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Zacks Research cut shares of Nova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 14th. Citigroup upped their price target on shares of Nova from $520.00 to $595.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Wall Street Zen raised shares of Nova from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $518.22.
View Our Latest Research Report on Nova
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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