Evercore ISI Initiates Coverage on Nova (NASDAQ:NVMI)

Stock analysts at Evercore ISI started coverage on shares of Nova (NASDAQ:NVMI) in a research note issued to investors on Tuesday, Benzinga reports. The firm set an “outperform” rating and a $210.00 price target on the semiconductor company’s stock. Evercore ISI’s price objective points to a potential upside of 23.19% from the company’s current price.

Separately, Benchmark boosted their target price on Nova from $150.00 to $187.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $170.67.

Nova Stock Performance

NASDAQ NVMI opened at $170.47 on Tuesday. The company has a market cap of $4.89 billion, a P/E ratio of 39.83, a P/E/G ratio of 6.47 and a beta of 1.41. The business’s 50 day moving average price is $171.31 and its 200-day moving average price is $139.69. Nova has a fifty-two week low of $87.85 and a fifty-two week high of $190.51.

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 the consensus estimate of $1.07 by $0.14. The firm had revenue of $134.22 million for the quarter, compared to the consensus estimate of $128.00 million. Nova had a return on equity of 20.55% and a net margin of 26.32%. As a group, equities analysts predict that Nova will post 4.87 EPS for the current year.

Hedge Funds Weigh In On Nova

Hedge funds have recently bought and sold shares of the business. Asset Dedication LLC bought a new position in Nova in the 3rd quarter valued at $34,000. Tower Research Capital LLC TRC grew its position in Nova by 109.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 788 shares of the semiconductor company’s stock valued at $67,000 after acquiring an additional 411 shares during the last quarter. Ronald Blue Trust Inc. bought a new position in Nova in the 3rd quarter valued at $75,000. Russell Investments Group Ltd. purchased a new stake in shares of Nova in the 2nd quarter worth $76,000. Finally, Signaturefd LLC lifted its holdings in shares of Nova by 20.6% in the 3rd quarter. Signaturefd LLC now owns 672 shares of the semiconductor company’s stock worth $76,000 after buying an additional 115 shares during the period. Institutional investors own 82.99% of the company’s stock.

About Nova

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.