Mackenzie Financial Corp Boosts Stake in Nova Ltd. (NASDAQ:NVMI)

Mackenzie Financial Corp raised its holdings in shares of Nova Ltd. (NASDAQ:NVMI) by 11.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,446 shares of the semiconductor company’s stock after buying an additional 1,147 shares during the quarter. Mackenzie Financial Corp’s holdings in Nova were worth $1,589,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Asset Dedication LLC purchased a new position in Nova during the third quarter worth about $34,000. Signaturefd LLC lifted its stake in Nova by 20.6% during the third quarter. Signaturefd LLC now owns 672 shares of the semiconductor company’s stock worth $76,000 after purchasing an additional 115 shares during the last quarter. Cerity Partners LLC bought a new stake in Nova during the fourth quarter worth about $201,000. TD Asset Management Inc bought a new stake in Nova during the third quarter worth about $218,000. Finally, Pinnacle Financial Partners Inc bought a new stake in Nova during the fourth quarter worth about $218,000. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Nova Trading Up 3.3 %

NASDAQ NVMI opened at $168.18 on Wednesday. Nova Ltd. has a 1-year low of $87.85 and a 1-year high of $190.51. The stock has a 50-day moving average of $173.15 and a 200-day moving average of $142.16. The firm has a market cap of $4.82 billion, a PE ratio of 39.29, a price-to-earnings-growth ratio of 6.06 and a beta of 1.41.

Nova (NASDAQ:NVMI) last released its earnings results on Thursday, February 15th. The semiconductor company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.14. Nova had a return on equity of 20.55% and a net margin of 26.32%. The company had revenue of $134.22 million during the quarter, compared to analyst estimates of $128.00 million. As a group, equities research analysts forecast that Nova Ltd. will post 4.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NVMI shares. Benchmark lifted their price target on Nova from $150.00 to $187.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Evercore ISI started coverage on Nova in a research note on Tuesday, April 16th. They set an “outperform” rating and a $210.00 price target for the company.

Nova 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.