Nova Ltd. (NASDAQ:NVMI) is Montanaro Asset Management Ltd’s 6th Largest Position

Montanaro Asset Management Ltd lowered its stake in shares of Nova Ltd. (NASDAQ:NVMI) by 17.1% in the third quarter, Holdings Channel reports. The institutional investor owned 110,358 shares of the semiconductor company’s stock after selling 22,742 shares during the quarter. Nova accounts for approximately 4.1% of Montanaro Asset Management Ltd’s portfolio, making the stock its 6th biggest position. Montanaro Asset Management Ltd’s holdings in Nova were worth $22,992,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in NVMI. Vanguard Group Inc. grew its holdings in Nova by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 987,071 shares of the semiconductor company’s stock worth $175,087,000 after acquiring an additional 14,115 shares in the last quarter. Tidal Investments LLC bought a new stake in Nova in the first quarter valued at about $2,589,000. Sei Investments Co. raised its stake in Nova by 12.7% during the first quarter. Sei Investments Co. now owns 128,423 shares of the semiconductor company’s stock valued at $22,780,000 after buying an additional 14,508 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in Nova during the 1st quarter worth approximately $38,661,000. Finally, Capital World Investors lifted its holdings in Nova by 22.3% during the 1st quarter. Capital World Investors now owns 450,868 shares of the semiconductor company’s stock worth $79,975,000 after buying an additional 82,322 shares during the last quarter. Institutional investors own 82.99% of the company’s stock.

Analysts Set New Price Targets

NVMI has been the topic of several research reports. Citigroup lowered Nova from a “buy” rating to a “neutral” rating and dropped their price target for the company from $273.00 to $224.00 in a research report on Monday, September 16th. Needham & Company LLC reissued a “hold” rating on shares of Nova in a report on Friday. Finally, Benchmark lifted their price target on shares of Nova from $240.00 to $245.00 and gave the company a “buy” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nova currently has an average rating of “Moderate Buy” and an average price target of $227.80.

Nova Price Performance

Shares of NASDAQ NVMI opened at $197.68 on Friday. The firm has a market capitalization of $5.74 billion, a PE ratio of 41.10, a P/E/G ratio of 1.98 and a beta of 1.47. Nova Ltd. has a 1-year low of $102.23 and a 1-year high of $247.21. The business’s fifty day moving average price is $198.31 and its two-hundred day moving average price is $208.12.

Nova (NASDAQ:NVMI) last released its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.18 by $0.43. The business had revenue of $156.86 million during the quarter, compared to analyst estimates of $148.12 million. Nova had a net margin of 27.38% and a return on equity of 20.76%. The company’s quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 earnings per share. Equities research analysts expect that Nova Ltd. will post 5.63 earnings per share for the current fiscal year.

Nova Company 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.